Merger Announcement: Nexus Mutual Credit Union
September 2019Share This Story
We would like to advise customers of our plans in relation to a proposed merger with Nexus Mutual Credit Union.
A Memorandum of Understanding between our two organisations was signed on 17 September 2019. The merger is subject to due diligence and regulatory approval.
Nexus Mutual is a Melbourne-based credit union and has been serving members for over 50 years. They have over 6,000 members, two branches and $360m in assets.
Nexus Mutual is a dedicated credit union for the ExxonMobil community of employees, contractors and their families.
As customer-owned organisations, we are both committed to being the best for our members and the communities in which we operate. Together, we will have an even greater capacity to develop financial solutions that offer real value to members. Our people will continue to play a key role in ensuring that the combined business will grow and prosper in the years ahead.
Through this proposed merger, Beyond Bank’s strong national position as a clear alternative in the financial services market will be enhanced in both Melbourne and regional Victoria.
Both organisations also have strong relationships with local communities and we look forward to expanding and developing community programs once the merger is finalised.