The merger was approved by ECU at its annual general meeting last Friday (December 2).

Members approved the recommendation of the Board to merge with the Queensland Country Credit Union and form a combined credit union with assets of over $1.7 billion, 29 branches, four agencies and 70,000 members.

Queensland Country chair and former Mount Isan Bruno Cullen said all current members of the combined credit union would see immediate benefits and should feel confident in the organisation’s future.

“We’re excited to be able to offer our members of the combined credit union the best products from both organisations and a better branch network,” Mr Cullen said.

“Members can also expect the same great customer service, community support and fairer banking that both organisations are recognised for. 

“The merger will enhance our organisations for members and allow for a stronger future together.”

ECU Chair Greg Nucifora congratulated the members on their decision and said the merger would benefit members of both organisations and be attractive to new members.

“In its more than four-decade history the Board and staff of ECU have worked tirelessly to deliver the best and fairest banking needs our members deserve,” Mr Nucifora said.

“The Board believes this merger will honour that commitment and continue to deliver an organisation that its founding and current members can continue to be proud of and benefit from

“We also believe we will appeal to new customers who have wanted to deal with a locally owned alternative to the profit and shareholder driven model of the big banks.”

Queensland Country Credit Union began life as the Isa Mine Employees’ Credit Union Limited in 1971.