Credit Union

• Ian Rogers

The net profit of Great Southern Bank has dived, to $37.3 million over the year to June 2024, from $44.5 million in FY2023. read more

• Ian Rogers

Cost discipline is a characteristic too few mutual banks are known for, and nigh on impossible to deliver when boards are balancing pursuit of the greater goal of merging in the name of survival, with.. read more

• Ian Rogers

Any merger of Beyond Bank and Police & Nurses would create a mutual with close to $20 billion in assets, making it the fourth largest. The enlarged mutual bank will have around 450,000 members, wh.. read more

• Ian Rogers

Community First Bank and Illawarra Credit Union are planning to merge, the boards of both ADIs informed their members yesterday. read more

• Ian Rogers

Cuscal has reported a December 2023 half year net profit of A$13.7 million, up five per cent from the prior period, and is distributing $6.1 million to shareholders as an interim dividend. read more

• Ian Rogers

Lithuanian Co-Operative Credit Society ‘Talka’ Limited, one of the most feeble credit unions in the country, will merge with Bank Australia. read more

• Ian Rogers

This year’s sale of its health fund to HBF has delivered to Queensland Country Bank one of the largest ever profits for a mutual bank. read more

Transport Mutual Credit Union has announced its decision not to participate in the proposed voluntary sale of 50 per cent of its shares in Cuscal.   read more

• John Kavanagh

Great Southern Bank grew its mortgage book by 6.6 per cent in the year to June, with this above system growth largely due to its penetration of the first home buyer market. read more

• Ian Rogers

AWA Alliance Bank, a Geelong-based former credit union, is seeking to disassociate from the Alliance Bank network of Bendigo and Adelaide Bank, and amalgamate with Beyond Bank. read more

• Ian Rogers

Receivables went backwards but profit went up at Illawarra Credit Union. read more

• Ian Rogers

The Commonwealth Director of Public Prosecutions has withdrawn charges against Peter Challis, the former CEO of WAW Credit Union, based in Albury. read more

• Ian Rogers

Beyond Bank will merge with First Choice Credit Union, deepening Beyond’s expansion into NSW. read more

• Ian Rogers

Macquarie Credit Union is in merger discussions with Regional Australia Bank. read more

• John Kavanagh

Queensland Country Bank has completed the sale of its health fund to HBF – the second sale of a health fund to HBF by a Queensland-based mutual bank in the past couple of years. read more

• Ian Rogers

Australian Mutual Bank and Community First Bank have cancelled a mooted merger. read more

The merged Heritage Bank and People’s Choice Credit Union will build a new head office in Toowoomba on the site of a former Catholic church.  read more

• John Kavanagh

When Credit Union Australia changed its name to Great Southern Bank in 2021, the biggest influence on its decision was research showing nearly half of Australians had no idea what a credit union was. read more

• John Kavanagh

Two new mutual banks, each with assets of more than A$20 billion, start trading today, with the official completion of the mergers of Newcastle Permanent Building Society and Greater Bank, and Heritag.. read more

• Ian Rogers

Lakeba never got a chance to show its mettle via a takeover of Maleny Credit Union. More’s the shame. read more