MCU Vote – Statement to Members

May 8, 2019 in Latest News

Dear Members,

I am pleased to inform you that on 30 April, Maleny Credit Union’s proposed transaction with Firstmac passed another milestone with the successful completion of the Scheme Meeting and Demutualisation Meeting at Maleny Community Centre.

Members at the meetings gave final endorsement to the proposed transaction, with approximately 98% voting in favour of each of the three resolutions.

This means that the last hurdle relating to member approval of the transaction has now been cleared.

Our second Supreme Court hearing, where we will seek final Court approval of the Scheme of Arrangement, is scheduled for 10 June 2019.

The hearing had earlier been booked in for 10 May but had to be put back because the Federal Government has gone into caretaker mode during the Federal election campaign, so is not in a position to give approval until the new government is formed.

I would like to thank MCU members for your sustained support of the proposed transaction and look forward to unlocking its substantial benefits for yourselves and for the broader community.

Best regards,

Sarah Davies