Members give their seal of approval to merger
bcu members have voted strongly in favour of the organisation's merger with P&N Bank, with the result announced at a general meeting in Coffs Harbour today.
To achieve this milestone, 12,658 bcu members voted, representing 28.9% of eligible voting members, with 86.9% voting in favour of the merger resolution.
"On behalf of the board I would like to thank our members and staff for their involvement in the merger process, and their participation and engagement," bcu chairman, Steve Targett said.
"The strong member endorsement of the merger opportunity, demonstrated by the voting outcome, has been great to receive."
P&N Bank will hold a general meeting with its members tomorrow to seek their support for the merger.
Pending a favourable outcome, the regulator will conduct a final review before the merger can take place, which is indicatively planned for November 1.