Queensland Country Bank’s branch network will further expand to include the Sunshine Coast hinterland in early 2021 following the announcement that Maleny Credit Union (MCU) will transfer its banking business to our organisation. Founded in 1984, MCU has over 3,100 Members and total assets of $56 million.
Group CEO, Aaron Newman, said the transfer presents a good opportunity to continue the organisation’s strong recent growth.
“We’ve significantly increased our presence in southern Queensland in recent years through mergers with ECU Australia and Queenslanders Credit Union, so we’re excited about this opportunity to further expand into the Sunshine Coast Hinterland,” he said.
Queensland Country will retain the existing MCU branch location and any existing Members in the area will be able to conduct transactions from late February 2021 when the MCU banking system is currently scheduled to merge into Queensland Country’s.
According to MCU Chair, Sarah Davies, Queensland Country was selected as a partner to receive their banking business after a thorough process.
“Queensland Country are an ideal size to represent a sustainable partner for MCU. They are large enough to keep up to date with regulatory and technology costs, but still small enough to have a commitment to doing what is best for their members and their communities,” Ms Davies said.