Members of Family First Bank have voted in favour of merging with Beyond Bank, with the merger expected to take effect from 1 March.
On Thursday evening (29 January), members of Family First Bank members voted in favour of merging with Beyond Bank Australia, a move first proposed in August last year.
The vote, held at a Special General Meeting in Lithgow, New South Wales on Thursday evening, saw Family First Bank members vote 89.6 per cent in favour.
Final approval documentation has now been lodged with the prudential regulator, with the merger to take effect from 1 March.
Once merged, the group would have a combined 340,000 members and would manage more than $11.3 billion in assets.
It would also extend Beyond Bank’s operations into the Blue Mountains, Lithgow, Bathurst, Blackheath and Mudgee, complementing the bank’s existing presence in South Australia, the ACT, Victoria, and other parts of NSW.
The merger will also see Family First Bank members gain access to Beyond Bank’s broader range of products, services, and digital capabilities.
However, it expected that the technology and banking systems that Family First Bank members use will move across in early June to ensure “a smooth transition”.
All employees of Family First Bank have ben offered roles within the merged organisation.
David Marshall, CEO of Beyond Bank Australia, commented: “Beyond Bank and Family First Bank have a long history of supporting the communities we serve.
“This merger strengthens that commitment and positions us to deliver even greater benefits to members across regional New South Wales.”
He added: “Importantly too, all Family First Bank employees have been offered roles within the merged organisation, and we’re excited to welcome them into the Beyond Bank team.”
Family First Bank CEO Adam Marshall said the merger represents a major step forward for members and communities. “Family First Bank has always been dedicated to providing ethical, community‑focused banking,” said Mr Marshall. “Joining with Beyond Bank allows us to expand our offering while staying true to the values our members trust.
“This partnership ensures our members will continue to receive the personalised service they value, supported by the strength and scale of a leading customer‑owned bank.”
This is the second merger that Beyond Bank has pursued in recent years, after having considered merging with Police & Nurses Limited (P&N) in 2024.
That deal that would have created an entity with around $20 billion in assets.
However, that proposal collapsed in September 2024 after P&N concluded that proceeding was “not in the best interests” of its members. Following a detailed due diligence process, P&N said undisclosed issues had been raised that prevented the deal from progressing.
Beyond Bank stressed at the time it was committed to remain strong and community-focused despite the setback, and hinted it would continue to explore strategic growth opportunities. The Family First Bank deal now appears to represent the next step in that strategy.
Merger momentum builds
P&N has also been in other merger talks, but confirmed on Thursday that its exploratory merger discussions with Great Southern Bank (GSB) had concluded and that the merger will not proceed.
Both the P&N and GSB boards found that “progressing the merger would not be in the best interests of its customers”.
The moves come amid a string of mergers across the mutual banking sector.
Last year, Bank Australia completed two acquisitions – it completed its acquisition of Australian Unity Bank in November and Qudos Bank in July, taking Bank Australia’s customer base to more than 320,000 people.
Meanwhile, Summerland Bank and Regional Australia Bank moved one step closer to merging after members approved the deal, clearing the path for the 1 July 2026 implementation.
Earlier in 2025, Auswide Bank became a wholly owned subsidiary of MyState Limited, while G&C Mutual Bank and Unity Bank finalised their merger to form Unity Bank Limited from July 2025.
Other notable deals in recent years include the creation of People First Bank following the merger of Heritage Bank and People’s Choice and the consolidation of Greater Bank and Newcastle Permanent.
[Related: Beyond Bank explores new merger opportunity]
