After several months of detailed assessments on the operational challenges that would arise from merging our two organisations next year, the Boards of G&C Mutual Bank and Unity Bank have resolved that it would not be in the best interests of our members to proceed with the merger at this point in time. The Boards determined that it would be more beneficial for each Bank to remain independent and focus on executing their individual strategic plans over the coming year.
In reaching this decision, both Boards acknowledge the goodwill, openness and respect that was evident during the discussions and are confident that each of our Banks will continue to provide competitive and highly valued services to their members. Our two Banks will continue working cooperatively and constructively with each other (including by sharing branches) to ensure that Australian consumers have access to a strong, viable and ethical mutual banking alternative.
Board Chair – G&C Mutual Bank
Board Chair - Unity Bank