A credit union in difficulty is counting on the votes of 4 more mutual ADIs to save its skin.Members of five credit unions are meeting to vote on what's effectively a takeover by Credit Union Baywide of four New Zealand credit unions, with members voting at special meetings each day this week.interest.co.nz backgrounded this five-way merger in a recent feature. A week before Christmas, Credit Union South, Credit Union Central, Steelsands Credit Union and Baywide all pledged to jointly merge with Aotearoa - a credit union that pinned its IT upgrade hopes on Oracle and then many things went sour.In November Banking Day reported on "the aftermath of a problematic core banking upgrade by Aotearoa Credit Union [that] threatens to drag down the profitability of most of the country's mutual sector - potentially affecting 200,000 customers."All the five boards are recommending a transfer of engagements under the NZ Friendly Societies and Credit Unions Act into Credit Union Baywide. "The proposed merger comes with Aotearoa continuing to lose money, having been forced to either transfer its members and business to another credit union or raise about NZ$2 million of capital to survive after losses caused by switching to a new Oracle core banking system," interest.co.nz explained.It said the four credit unions proposing to merge with Aotearoa, which INZ reported is in breach of its minimum capital ratio, are loaning it NZ$1.25 million to cover the period until the proposed merger is expected to be completed.If members agree to the deal all assets, liabilities and undertakings will be transferred from the other four credit unions to Baywide. The effective date of the transfer is expected to be May 1.Aotearoa members voted yesterday, Monday March 11, with the result unknown as yet. The next vote, today, is at the meeting of Credit Union Central in Kawerau. Credit Union South meets on Wednesday in Dunedin and then Steelsands on Thursday in Waiuku.Credit Union Baywide wraps up this festival of inclusion in Hastings at the Havelock North Function Centre on Friday evening. interest.co.nz quoted the Aotearoa board, pre Christmas:"After becoming aware of Aotearoa Credit Union's financial difficulties, the five credit unions recommended discussions on how we can collectively ensure a strong stable credit union for all New Zealanders into the future."The merged credit union will become the largest New Zealand credit union and approximately the eighth largest non-bank deposit taker in New Zealand."Baywide said the merged entity would have around 68,000 members and total assets of about NZ$592 million. The business plan calls for "a reduction in staff numbers due to duplication of roles".Combined the five have about 300 staff and 35 branches.