New Zealand’s largest credit union NZCU Baywide plans to unite with credit unions across New Zealand in a move that will pool a whopping $600 million in assets.
A total of five New Zealand credit unions have signed a conditional Heads of Agreement to merge, after their boards recommended a transfer of engagements into one single credit union.
NZCU Baywide chief executive Gavin Earle said the merger of NZCU South, NZCU Central, NZCU Steelsands, Aotearoa Credit Union and Hawke’s Bay-based NZCU Baywide, all under one brand provided “significant opportunities” for all parties.
“We have about 28,000 members in Hawke’s Bay in our credit union and the benefits of us coming together is significant in terms of scale and efficiency.”
Photo: NZCU Baywide Hastings branch office on Karamu Rd.
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Posted: 22 December 2018