Mortgage Business
Bank completes merger with credit union By Annie Kane 04 May 2021
A mutual bank has welcomed 3,000 new members after completing its merger with a credit co-operative.
Firefighters Mutual Bank, a division of Teachers Mutual Bank Ltd, has welcomed the new members after finalising the data transfer to formalise its merger with Firefighters Credit Co-operative Ltd.
All of the former Firefighters Credit Co-operative members are therefore now part of Firefighters Mutual Bank and have access to its range of products and services.
This includes a wider range than was available under the co-operative, including the ability to apply for fixed rate loans and credit cards, access to a mobile banking app, free and unlimited ATM withdrawals, and access to its new payments platform (NPP).
A credit union and a bank have signed a Memorandum of Understanding to enter merger discussions. Victorian-based Pulse Credit Union Limited and Teachers Mutual Bank Limited (TMBL) have announced the