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Briefs: SCU merger with IMB to go ahead, La Trobe launches RMBS

Members of Sutherland Credit Union on Wednesday night endorsed a merger with IMB Bank, with 96 per cent of votes in favour. The merger will formally take place on 1 July 2016. La Trobe Financial has launched an issue of residential mortgage-backed securities, seeking A$250 million of funds. The securities are backed by a pool of non-conforming loans, which have an average balance of $335,923 and an average loan-to-valuation ratio of 69.9 per cent. The maximum LVR is 82.5 per cent.

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