Credit Union Merger
In a further shake up of the Credit Union industry, Enterprise, Sirocredit, and Outlook have agreed to merge, subject to member approval.
According to the credit union's boards the merged entity, to be named Members Australia, will have greater access to expensive technology, acheive economies of scale and provide opportunities for growth.
Reduced margins and greater competition have forced and will continue to force many credit unions to merge in order to remain competitive or simply survive.
The Members Australia proposal, if approved, will create a credit union with total assets of approximately $640M and be the fifth largest in Australia.