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Merger Announcement

August 2017
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MERGER ANNOUNCEMENT

We would like to advise customers of some important plans proposed in relation to a merger with My Credit Union (MYCU).

A Memorandum of Understanding between our two organisations was signed on 14 July 2017.  Due diligence has been largely completed and we will now seek regulatory approval.

MYCU is a Sydney based credit union and is the result of a merger between Industries Mutual and Resources Credit Unions.  Its membership base is built out of the health, agricultural and transport sector and has operations in Sydney (Parramatta and Chatswood), Griffith and Newcastle. 

As customer owned organisations, we are both committed to members, staff and the local community and together, we will have an even greater capacity to develop financial solutions that offer the best value to members.

Our Bank has a strong position in the national financial services market and this proposed merger will build on our commitment to regional Australia and provide a very clear alternative in the market for customers in both Sydney and regional New South Wales.

Both organisations also have strong relationships with local communities and we look forward to expanding and developing community programs once the merger is finalised.

For more information on MYCU visit www.mycu.com.au

 

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