Aus Unity and Big Sky in merger talks
Australian Unity and Big Sky Credit Union have announced they will explore and evaluate a potential merger.
Although the discussions are currently at an early stage, both organisations believe there are “good grounds” to explore such a union.
Big Sky chief executive Tony Ryan and Australian Unity group managing director Rohan Mead agreed members of both companies could benefit from the merger.
“Australian Unity has a set of complementary products and services to Big Sky and we should consider how these may benefit our members,” Ryan said.
Mead added the services provided by Big Sky to its members appeared to fit well with the Australian Unity business approach, and that “the member-based structure and style of both organisations” was complementary.
Preliminary considerations have included Big Sky combining with the Lifeplan Australia Building Society. Lifeplan became part of Australian Unity as a result of a merger between Australian Unity and Lifeplan Australia Friendly Society in 2009.
An evaluation committee comprising senior executives and directors of both organisations has been formed to review strategic opportunities to create a strengthened mutual group.
Australian Unity has 280,000 members, while Big Sky Credit Union has a 30,000 strong membership base.
AUTHOR
Milana Pokrajac
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