Merger Approved

We are very pleased to announce that the merger between G&C Mutual Bank and Quay Credit Union has been approved by our members. Our members voted unanimously in favour of the merger at our Special General Meeting on 16 August 2016, and combined with 89% of Quay Credit Union’s members supporting the merger at their Special General Meeting on 3 August 2016, we are well on the way to combining both organisations in this invaluable partnership.

Our Board and Executive Team were gratified by the support received from our members and staff. Quay Credit Union’s Chairman Peter Clarke was also very pleased with the strong support Quay members had towards the merger.

This merger between G&C Mutual Bank and Quay Credit Union is built on strength and includes a post-merger balance sheet of around $1.1 billion. Together we will continue to grow progressively and remain one of Australia’s strongest member-owned financial institutions. Our excellence in service combined with the great variety of multi-award winning products, competitive rates and improved technological services will continue.
The merger is expected to formally take place on 1 September 2016 subject to receiving final approval from APRA. There will be no changes affecting existing G&C Mutual Bank members. We will continue to keep you informed on the integration of our two organisations.

We thank all our members who voted during the Special General Meeting.