Message from our Chair
This message is to inform Members of significant changes to the QBANK Board of Directors. Over the last 10 years, QBANK has benefited greatly from the stability of a Board that was clear in its direction and unwavering in its Member focus.
During that time, QBANK’s headline achievements include:
- Nearly doubling in asset size, from $680 million to almost $1.2 billion, a critical growth performance in the scale game of retail banking
- Rapidly advancing our technological capability through a multi-year strategic investment program that step-changed efficiency, security and Member experience
- Maintaining a high-performance, Australia-based call centre while most banks offshored their contact centres and constructively made it almost impossible to speak to a real person
- Investing in a Relationship Manager capability that took QBANK out of the South-East corner and made us truly state-wide, while delivering financial literacy programs to thousands of members every single year
- Systematically increasing our bond engagement from our Queensland Police origins to the wider First Responder, Health, Justice, Corrections and Queensland Government services
- Seamlessly modernizing our brand from the 20th century Queensland Police Credit Union to the 21st century QBANK
- As a summary of performance, driving Member satisfaction (measured by Net Promoter Score) from +14 (slightly ahead of the majors) to a world class score of +55, ranking QBANK in the top echelons of customer satisfaction in Australia
These achievements are just the highlights. And all were achieved through the tenure of three separate CEO’s and disruptions as seismic as COVID and runaway cost-of-everything
As proud as we are of these achievements, we all know the time for change has come, the time for a renewed Board to steward QBANK through the next stage in its distinguished history. As several Director retirements loom, your Board is undertaking a process to ensure the good work continues and QBANK will remain strong and relevant for future generations of Members
The Make-Up of the QBANK Board
At the 2023 AGM, Members approved a change to QBANK’s Constitution. The maximum number of Board-appointed Directors was increased from two to three and the number of Member-elected Directors was correspondingly reduced from five to four. The change allowed the Board to more directly address skill gaps and deliver a collective Board capability that is more consistent with the demands and complexities of modern bank governance. This 2023 change came into effect with the passing of Ian Leavers APM in November 2025
New Director
Derek Weatherley was appointed as a Director on 14 April 2026. Derek brings significant senior executive and Board experience relevant to governing a mutual bank, and most recently served as CEO of Indue Ltd. We warmly welcome Derek to the Board
While all decisions will be with the Board of the day, Derek possesses the skills and experience to be considered as a future Chair of the Board
Future Director Changes and Opportunities
2026 AGM
In November 2026, having served 12 years, Directors Andy Henderson and Dan Keating will retire from the Board, creating two vacancies. The Board welcomes nominations from suitably qualified Members committed to the purpose and future of QBANK
2027 AGM
In November 2027, having served 14 years, Directors Ray Brownhill and Paul Wilson will retire, creating two casual vacancies. Per the Constitution, these two casual vacancies will be filled by two Board appointments, serving the balance of those Director terms, expiring at the 2028 AGM
It is also planned that, having served 11 years as Chair, Daryll Morton will vacate the role ahead of retirement from the Board in 2028. Daryll Morton will be succeeded by a Board appointment
2028 AGM
In November 2028, the two Director positions vacated by Ray Brownhill and Paul Wilson in November 2027 will be open for nominations from suitably qualified Members committed to the purpose and future of QBANK
How to become a Director
The composition of the Board and the process for becoming a Director are governed by QBANK’s Constitution, and legal and regulatory requirements, including APRA Prudential Standards, Board-level selection processes and, for elected Directors, a Member voting process. Detailed information about eligibility, time commitments, fit and proper requirements, Directors’ duties and how to nominate as a candidate for election can be found on QBANK’s website here.
