Auswide Bank is gunning for a hefty boost to its profit from its planned takeover of Queensland Profession Credit Union.QPCU this week finalised the scheme booklet for members in connection with the merger and the associated demutualisation of a single branch ADI in Brisbane now trading as Your Credit Union.That shows Auswide expects to yield annual pre-tax cost synergies of A$2 million over the 2016/17 financial year, with "savings generated mainly through the consolidation of technology platforms and back office functions."This is in excess of 50 per cent of the historic operating cost base of QPCU of less than $4 million.Auswide expects a profit kick of more than this, advising in an investor presentation yesterday that is expects a "greater than $3 million in pre-tax profit, an increase of 16 per cent."There are 4,094 members of QPCU who will receive $4055 in cash plus 696 Auswide Bank shares if the mutual's members give the merger and demutualisation the all clear at a meeting on 18 April. QPCU members will collectively own around seven per cent of Auswide after the merger, doubling the shareholder register of the Bundaberg-based bank.Corporate adviser Lonergan Edwards, in an expert's report prepared for credit union members, found the offer to be "fair and reasonable and in the best interests of members."No better offer, and maybe no alternative offer at all, has emerged since Queensland Profession Credit Union and Auswide announced the plan a few days before Christmas.Demutualisations of credit unions are rare in Australia, with public sector-aligned ADIs featuring. There are a few precedents: Postal Technicians (QLD) Credit Union, by then trading as Sunstate Credit Union (in 1997). The Teachers, Police and Nurses Credit Union and Savings & Loans Credit Union, which by 2007 was trading as Connect Financial and Island State Credit Union and is now branded as MyState. Goldfields Credit Union in 2012, now Goldfields Money.MyState and Goldfields are ASX listed, with A$362 million of market capitalisation between them. Auswide's market cap is half that of its adjacent minnows.