Clear and Present Danger

According to the NSW Bureau of Crime Statistics and Research (BOSCAR) the rate of robbery with a firearm in NSW was 12.59 per 100,000 people in 1995 and in 2024 it was 1.10 per 100,000 people. Meanwhile, according to BOSCAR incidences of cybercrime in NSW rose by 42% in the period 2019-2022.

In 2025 cybercrime is right at the top of COBA’s agenda. In 1995 cybercrime was just becoming an issue but armed bank robbery was a real worry. For example, former Australian Mutuals Archives Chair and credit union CEO, Kaye Wetzler, was on the premises when her credit union was robbed by armed assailants.

To combat this, as a risk management tool and public service, in 1985 Credit Union Insurance Consultants, a division of the Association of NSW Credit Unions (ANSWCU), began producing a Credit Union Security Kit.

Housed in a red plastic folder, the 1989 kit came with a cover letter, a checklist of ‘Duties after a hold-up’, a ‘Credit Union Bandit Identification Form’ and brochures titled ‘Hold-up procedures for management’ and ‘Loss prevention is your responsibility – for Board and Management’.

While we in customer owned banking lament the rise of cybercrime we can at least be thankful that for numerous reasons the threat of armed robbery, with the real possibility of physical arm to staff and public, has lessened.