Maleny Credit Union may be the next mutual to join Bendigo and Adelaide Bank's Alliance Bank partnership. Maleny held an information evening for its members earlier this month at which management and the board argued that joining Alliance Bank was the best way forward for the tiny Queensland mutual.In a note to members following the meeting, Maleny chair Sarah Davies said the board would provide further information for members about the plan, including more detailed financial modelling and more information about the proposed structure.For Maleny to proceed with its proposal it will need the approval of members and the Australian Prudential Regulation Authority.Its current plan is to present constitutional changes at the annual general meeting in November and seek the necessary approvals early next year. The transfer of the business would occur late next year.Bendigo and Adelaide Bank launched its Alliance Bank partnership in 2014, with four partners: AWA Credit Union, now AWA Alliance Bank, which has 4300 members; Berrima District Credit Union, now BDCU Alliance Bank, which has 14,000 members; Circle Credit Cooperative, now Circle Alliance Bank, which has 4000 members; and Service One Credit Union, now Service ONE Alliance Bank, which has 20,000 members.Joining the Alliance partnership means, in effect, that a mutual becomes a franchise, shifting its assets and liabilities to the Bendigo and Adelaide Bank balance sheet while remaining a mutual owned by its members.Maleny has 3800 members.Alliance membership frees a mutual of the cost and administrative burden of regulatory compliance and gives it access to a wider range of products and services, as well as IT support.