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Media Release
AWA Mutual Ltd members have voted overwhelmingly in support of a merger with Beyond Bank Australia, which will come into effect from 1 March.
98.8% of members voted in favour of the union during a Special General Meeting in Geelong, Victoria, on Monday, 29 January.
Beyond Bank Australia is one of the largest customer-owned banks in Australia, with over 300,000 customers and $9b of funds under management,
The merger will see AWA Mutual Ltd customers gain access to Beyond Bank’s extensive regional and metropolitan national network.
Jake Bromwich, CEO of Beyond Bank Australia, said the merger highlighted the alignment of shared values and common purpose.
“Both AWA Mutual Ltd and Beyond Bank are committed to supporting local communities, including those in regional Australia,” said Mr Bromwich.
“That commitment also extends to staff, and all AWA Mutual Ltd employees have been offered roles within the merged organisation. It’s an exciting time for everyone.”
AWA Mutual Ltd CEO Gavin Heathcote said the merger will greatly expand the suite of banking products and services available to members.
“Like AWA Mutual Ltd, Beyond Bank is a pioneer in customer-owned banking, well known for its healthy financial standing and extensive service presence in regional Australia.,” said Mr Heathcote.
“The merger will allow us to provide our members with an enhanced array of customer-focused and community-centric services.,” said Mr Heathcote.
System integration to ensure a smooth transition of all data has been planned for early September.
Further media information:
Georgina McGuinness
Media Relations
Beyond Bank
T: 0488 247 777
E: georgina@mcguinnessmedia.com.au
Shane Farley
Head of Community, Sustainability and Communications
Beyond Bank
T: 0430 301 133
E: sfarley@beyondbank.com.au
About Beyond Bank Australia Beyond Bank has over 295,000 customers, more than $9 billion assets under management and 56 branch and regional office locations in New South Wales, South Australia, Western Australia, ACT and Victoria. As one of Australia’s largest customer-owned banks, Beyond Bank partners with more than 4000 community organisations around the nation and was the first bank in Australia to achieve B Corp certification, a global movement of companies and organisations that use business as a force for good. For more information, please visit www.beyondbank.com.au
