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Briefs: Sherry to join ING Group board, QPCU to demutualize, zipMoney signs retail finance agreement

11 March 2016 4:30PM
Global bank ING Group, the parent of ING Direct Australia, has proposed that Ann Sherry, a director of the local bank since 2012, be appointed to its supervisory board. Sherry is also executive chair of Carnival Australia, the largest cruise ship operator in Australia. ING Group shareholders will meet on April 25. Auswide Bank's merger target Queensland Professional Credit Union may be clear to release a scheme booklet to members in coming days. QPCU, which trades as Your Credit Union, plans to demutualise and, in the process, sell its business to Auswide. The demutualisation will release around A$8000 per member, some of its paid in Auswide shares. Consumer finance company zipMoney has entered into a distribution agreement with Total Face Group, a chain of cosmetic surgeries, and will offer interest-free payment plans to patients. zipMoney has targeted the healthcare sector, along with the education and travel markets, as areas that are not well serviced by point of sale finance providers. The company processed 8695 transactions worth A$9.9 million during the December half, up from 5464 transactions worth $3.5 million in the previous corresponding period.

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