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Community CPS Australia today announced its intention to merge with West Australian-based United Credit Union.
According to Community CPS chief executive officer Kevin Benger, the merged business would represent a combined membership of more than 175,000 people with total assets under management of $2.2 billion in addition to more than $360 million of additional funds under advice.
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Mr Benger said both credit unions are significant players in the financial services field and had identified numerous synergies between the two organisations.
“Each credit union has maintained a strong financial position over a number of years and has a loyal membership base, excellent staff and a strong product portfolio,” he said.
Members of the mutuals will be invited to vote on the merger once regulatory approval has been granted.
Published: 10-04-08
