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bcu invites members to learn about the proposed merger opportunity with P&N Bank

bcu members are being asked to attend information events on the proposed merger with P&N Bank from September 17, as the organisation prepares to launch a five-week vote on the merger next month.

Events will be held in five locations across bcu's network and will coincide with the release of a detailed information booklet that will be sent to all members with voting instructions and proxy forms.

The booklet will be released on September 16, with members able to vote up until a general meeting on the merger resolution on October 22.


Important dates


bcu chairman Steve Targett said staff had been working tirelessly for months with Perth-based mutual P&N Bank to finalise all the details of the proposed merger.

"I am grateful to our members and staff for their patience as we worked through a very thorough process on their behalf," he said.

"Members can now pre-register via the bcu website for information events in their local community that will coincide with the September release of the booklet.

"Every member who would like to hear about the merger or ask me or other directors any questions should register and attend one of these events."

  • Information events will be held for members across the region
  • Members are being asked to register for an information event
  • Members will be able to vote over five weeks from September 16

Mr Targett said the details of the proposed merger had been considered by an independent expert and approved by the regulator, clearing the way for bcu to release final details of the proposed merger to members next month.

From Saturday, a television advertising campaign will commence to raise awareness of the upcoming vote and information events.

The ads, featuring real store staff and members from Macksville, Coffs Harbour and Woolgoolga, will encourage members to register online, in store or by calling bcu.

bcu's Clarence Valley area manager Karen Mills, who is one of the familiar faces in the television ad, said it was vital for every eligible member to vote.

"This is a chance for members to have a say on the future of bcu," she said.

"Broadly, a minimum of 25 per cent of members need to participate in the vote and 75 per cent of those must vote yes for the merger resolution to be passed, so the decision is in members' hands.

"It is so important that our members understand the proposal and get involved in making an important choice for bcu's future."

To be eligible to vote, members must be over 18 and have been a bcu member for at least 12 months.

One vote will be allowed per eligible account. Members can register for information events here.


Karen - bcu Staff member - 20 years