Dear Valued Members,
We would like to update you on the proposed merger of Macquarie Credit Union and Regional Australia Bank.
As you may be aware, we have been in discussions with Regional Australia Bank regarding a transfer of business between our two organisations.
Our unity with Regional Australia Bank aims to continue the valuable work both organisations have started in cementing our commitment to this region, and ultimately ensuring regional communities continue to be empowered through our customer owned banking services.
We are pleased to advise that approval from the Australian Prudential Regulatory Authority (APRA), our Banking Regulator, has been obtained and we are now required to obtain approval from Macquarie Credit Union members at a Special General Meeting to be held on 8 March 2024.
Attached below is the relevant information pertaining to benefits of the proposed transfer of business for members. This information was supplied to the Australian Prudential Regulatory Authority (APRA) as part of the application to obtain their approval to the merger.
We invite all members to participate in the Special General Meeting (SGM) on 8 March 2024, where you will be able to vote on the resolution. You will find further details of the SGM outlined and attached. If you cannot personally attend the SGM you are encouraged to vote by completing and returning the proxy form below.
The transfer of business has the unanimous support of the Board of Directors of Macquarie Credit Union who recommend that you vote in favour of the resolution relating to the proposed merger with Regional Australia Bank.
We are genuinely excited about the potential value that this transfer of business will bring to our members. It will ensure the long-term sustainability of customer-owned banking in our regions. We strongly urge you to exercise your rights as a Macquarie Credit Union shareholder and cast your vote either by attending the SGM in person or by returning a completed proxy form.
Thank you for your continued support and participation. We look forward to your presence at the Special General Meeting.
|Important Member Information for the Special General Meeting to be held on 8 March 2024
|Member Information Document
|Notice of Special General Meeting
|Appointment of Proxy
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