Mecu (vic) To Merge With Uni Credit Union (qld)

mecu (Vic) to merge with Uni Credit Union (QLD)

The members of Uni Credit Union Limited (UCU) have voted overwhelmingly to
merge with mecu Limited.

Uni Credit Union will transfer its business to mecu as of 1 August 2008, creating a $1.7b credit union with 18 branches and 230 staff.

The merger will result in mecu establishing a stronger presence in Queensland
delivering benefits for members, staff of both credit unions and their respective communities.

Peter Crocker, mecu's Chairman said: "The merger result is great news for mecu
members who will now benefit from access to more branches in Queensland. Uni
Credit Union members will benefit from a wider range of products and market leading interest rates"

"mecu now looks forward to building on Uni Credit Union's profile to further grow community partnerships that deliver social and environmental benefits to the Queensland community."

As a result of the merger, existing UCU Director Mr Ron Dixon will be appointed to mecu's Board. Phylip Doughty will remain as CEO of the merged entity.

ENDS

Media inquiries:
Phylip Doughty mecu 03 9854 4646 www.mecu.com.au
Justin Fennessy 03 9854 4664


SOURCE: mecu