Transcomm CU merges with Catholic Super
Members of Transcomm Credit Union last week cleared a demutualisation and merger with Catholic Super Fund. The Melbourne-based mutual has A$73 million in assets.Transcomm said 99.7 per cent of voting members voted in favour at scheme meetings and general meetings last week.Catholic Super, through CSF Pty Ltd as trustee for MyLifeMyMoney Superannuation Fund, offered to acquire 100 per cent of Transcomm member shares. Each member will receive at least A$2093, an increment of $14 on the payment outlined in March.