Members Approve Merger
 Members of Austral Credit Union approved a merger with Savings and Loans at a Special General Meeting held on 8 September 2008 with 93% of votes cast in favour of the move.
Savings & Loans’ Chief Executive Officer, Greg Connor, said the merger would bring benefits to members of both credit unions.
“It will make us a much stronger credit union, which has obvious benefits in terms of economies of scale, while current members of Austral will have access to a wider range of products and services.
“Once this merger takes effect on 1 November, we’ll have more than 190,000 members, $3.5 billion in assets under management and 39 branches, including six at workplace sites.
David Edwards, Austral’s Chief Executive Officer, said the merger will have significant benefits for the credit union’s members.
“Our members will now have a broader range of services, including in-house financial planning and access to over 1,300 ATMs through Savings & Loans’ affiliation with the Rediteller network,” he said.
“Members have had the final decision in the merger, which is a great example of the principles of mutuality in action. “There was overwhelming support for the merger and I look forward to the transfer of business in November.”
Austral members will have their accounts and membership transferred to Savings & Loans on 1 November 2008.
If you have any questions about the merger, please contact our CEO, David Edwards, or Deputy CEO, Bob Malcolm on 1300 365 775 or send us an email.
Congratulations CGU Promotion Winners!
Congratulations to Mr Colin Taylor of Mount Clear, Victoria who was the lucky winner of the major prize during our CGU Insurance "Get a Quick Quote and Win" promotion.
Mr Taylor, pictured with Joan Jayne (left) from Austral CU and Melissa Figg from CGU won a fantastic prize including a 106cm LG LCD TV and Philips DVD Home Theatre System valued at $2,998.
All members who obtained a general insurance quote or policy through CGU during the promotion also went into the draw to win one of three $100 fuel cards.
Congratulations to our monthly fuel card winners: Mr J Avice - Endeavour Hills VIC, Mr A Brady - Traralgon VIC and Mr P Emmanouil - Hughesdale VIC.
The “must have” protection for online banking and shopping.
Special $25 off for Austral members!
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The software referred to on this page is not provided by Austral Credit Union Limited ABN 89 087 651 518 and is independently provided by the vendor. Please download the full disclaimer from here (23kb).
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At the recent Consumer Affairs Victoria Awards Ceremony, Abacus, the industry body for credit unions, was recognised for the industry’s Financial Literacy Initiative, a set of youth-targeted financial literacy tools provided as a free resource on credit union websites.
Details of the interest earned on your savings and investments for the year ended 30 June 2008 are indicated on your June statements. 
