Country First CU calls it a day
Members of Country First Credit Union this week voted in favour of the amalgamation of the Griffith-based mutual with Beyond Bank Australia. The merger is due to take effect on April 1. The combined entity, headquartered in Adelaide, will "have more than 203,000 members with assets under management of A$4.4 billion," according to Beyond. On the same day, Shell Employees Credit Union will fold into Maritime, Mining & Power Credit Union, thus bringing to an end the independence of two of Australia's ten smallest credit unions.Among the remainder are Firefighters and Affiliates, with $49 million in assets; Maleny, $43 million; Wyong Council, $39 million; Nova, $25 million, Lithuanian, $15 million, Gympie, $12 million; and Traditional, now the smallest with $11 million in assets.