The APS Benefits Group was formed when a small group of postal workers decided to put in sixpence from their pay each week to form a funeral fund for the widows when any of the society members died.
The postal network spread the word. Starting as the Victorian and Tasmanian Public Service Provident Fund (commonly known as 'Vic & Tas') we became one of the larger of many 'funeral funds' in the 1920s and 1930s in Australia. It later became the Australian Public Service Benevolent Society but is now known as the APS Benefits Group.
In 1938, the Government perceived a need to assist Public Servants to obtain financial help as they usually received a slightly smaller salary, but greater security, than workers in the private sector. This lack of cash often drove public servants into the hands of backyard financiers and pawn brokers who charged exorbitant interest.
The Government asked Societies such as 'Vic & Tas' to provide loans of up to 100 pounds at a reasonable interest rate in return for the rare privilege of salary deductions. 'Vic & Tas' then started the 'Members Loans' service which is a feature of the Society today.
In 2005, the APS Benefits Group celebrated its centenary.
The Australian Public Service Benevolent Society Ltd did on the twenty-fourth day of October 2016 change its name to APS Benefits Group Ltd.
The Board reviewed our business name, branding and our company name to ensure that they are still relevant and enable us to attract the next generation of members and clients.
The current name was long and, as such we have for over 15 years been trading as APS Benefits which is a registered business name. With the growth of the service offering in recent years we have been marketing ourselves as the APS Benefits Group.
Hence, the reason for the change.
Today, the APS Benefits Group offers a wide range of not-for-profit personal and financial services and is open to everyone.