The Holiday Coast Credit Union has invited members to attend branch information forums about the merger with Regional Australia Bank.
The credit union has 25,000 members and 98 staff. Regional Australia Bank is customer-owned, and has 60,000 members and 200 staff. It pledges more than five per cent of its profits back into grassroots community initiatives.
It's proposed that there would be no forced redundancies among any of the staff, and that the merged organisation would continue to operate both Regional Australia Bank and Holiday Coast Credit Union brands in their respective locations.
The information forums are as follows:
- Monday, April 15 at 5:30pm at Tuncurry Beach Bowling Club Tuncurry
- Tuesday, April 16 at 5:30pm at Club Taree, Taree
Holiday Coast Credit Union CEO Neville Parsons says the merger is best for current members and their communities.
"These forums provide a presentation of the benefits of the merger for members and their communities as well as addressing what has been the most common question around transferring to a mutual bank."