Two Large Australian CUs InMerger

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ARMIDALE, Australia - (11/11/04) The merger of Peel Valley CU and NewEngland CU will create the largest inland credit union Down Under,following a vote of NECU’s membership in favor of the merger.The union was approved with 97% of those NECU members who votedsupporting the move. Earlier, PVCU’s voting members supportedthe merger by 98%. No employees will lose their jobs due to themerger, the CUs reported. The merged credit union will beheadquartered in Armidale.

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