A small Western Australian credit union, Collie Miners Credit Union, will merge with Sydney-based Maritime Mining and Power Credit Union.Collie has 2500 members, A$40 million of assets and a single branch in Collie, WA. MMPCU has more than $700 million of assets. It made a profit of $4.1 million in the 2012/13 financial year.The Collie board said in a statement that small financial institutions faced increasing cost pressures related to regulatory change and a more competitive market."The board of CCMU has been monitoring the situation and has determined that the best way forward to address these challenges and continue to provide a benefit to members is to merge with MMPCU," the board said.The two credit unions have entered into a memorandum of understanding and will work towards a merger that they expect to complete in the first half of next year. MMPCU members will not need to vote on the proposal. One of the current CCMU directors will join the MMPCU board.The merged entity will operate under the CCMU brand in the Collie region and will operate as a division of MMPCU.Following the merger, Western Australia will have just two credit unions left - P&N Bank and University Credit Society.