Environmentally friendly credit union mecu has announced it is in merger discussions with fellow Victorian based credit union RegionalOne.
In a statement released today mecu chairman Peter Crocker said discussions were underway with a formal recommendation for a merger to be presented to members before the second half of the year.
The proposed merger would cement mecu as not only Victoria’s largest credit union but also one the country’s biggest with assets exceeding $2 billion.
Mr Crocker said the merger would also assist mecu to offer a broader range of competitive products and services, greater scale and expertise and greater resources to pursue opportunities for future growth across Victoria.
Since its inception more than 50 years ago mecu has already merged with 26 other credit unions, such as Uni Credit Union in August of last year.
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