Not being a Mount Isa native, I must admit I did not know the back story behind Queensland Country Credit Union.
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The credit union was registered in 1971 as The Isa Mine Employees Credit Union Limited and as the name would suggest it was a credit union for local miners.
It name changes over the years reflect its success and its expansion across first North Queensland and then the rest of the state.
In 1984 it changed its name to North Queensland Credit Union Limited and then in 1989 Queensland Country Credit Union Limited.
Later it accepted the engagements of Independent Credit Society Limited (1993), Stafford Parish Credit Union Limited (1998) and South East Community Credit Society Limited (2005).
There was some angst a couple of years ago when the company moved its AGM from Mount Isa to Townsville and concerned voices were raised again in October 2016 when it announced a merger with ECU.
Queensland Country Credit Union chair Bruno Cullen addressed these concerns when he spoke to local members at the 46th birthday celebrations at the Mount Isa branch last week.
Mr Cullen said that the company had committed to updating Mount Isa members each year as soon as possible after the AGM.
He also said the merger was a perfect match for both businesses. Both Queensland Country Credit Union and ECU were established around the same time to support regional Queenslanders.
He said a merger aligned with the strategic aspirations of both businesses and would provide the opportunity to introduce new products and services to meet the future banking needs of members.
The merger will complete on March 31 and the new entity will operate as Queensland Country Credit Union, with the Head Office in Townsville.
The Board of the merged entity will initially comprise six Directors from Queensland Country and three Directors from ECU with Mr Cullen remaining as chair.
Importantly because they are a good fit geographical with no overlap there should be no branch closures. DB