ADELAIDE, Australia — Members of two large credit unions here have agreed to a mega-merger that when complete will create a (A)$7-billion institution and serve more than 350,000 members.
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The two credit unions, Savings & Loans Credit Union and Australian Central, will have more than 1,000 employees and 60 branches; 85% of those employees have been guaranteed employment in the merged institution.
The merger will take place quickly and is scheduled for Dec. 1; a new name has yet to be settled upon.
