Brief: Gympie Credit Union averts operating loss with sale

Gympie Credit Union averted an operating loss over the 2018 financial year, via a gain on sale from the disposal of a small shareholding in Bendigo and Adelaide Bank. This gain of A$58,000 allowed the tiny credit union to report a net profit of $20,000, half that of the 2017 financial year. Gympie, with around $12 million in assets, continues to work toward a merger with Warwick Credit Union, now scheduled to occur in February 2019.