Hunter Mutual - Merger

Merger

In July 2009, a proposed merger between Hunter Mutual and the New England Credit Union was announced.

During December 2009, each credit union held their annual general meeting, with a majority of members (96% of Hunter Mutual members, 93% of NECU members) voting to approve the merger. The merger took place on January 1, 2010, with Hunter Mutual members becoming members of New England Credit Union, with the two computer systems to be merged in March, followed by the introduction of NECU's product range and fee structure. The merged entity has retained all locations, and Hunter Mutual CEO Col Sales has joined the executive management team. The combined company is the largest inland credit union in Australia.

It is planned that the New England and Orana Credit Union arms of NECU will be re-branded as New England Mutual and Orana Mutual, mimicking the Hunter Mutual name. All three will also have the common name of the Community Mutual Group.