Beyond Bank will merge with First Choice Credit Union, deepening SA-based Beyond’s expansion into NSW.
The 4000 members of First Choice will vote on the merger by the end of the year.
First Choice, based in Orange, has around A$100 million in assets and made a profit of $297,000 in FY2022.
Proceeds from the sale of its shares in Cuscal were $256,000, implying the credit union did little better than break even in 2022.
Beyond Bank has more more than 290,000 members and more than $8 billion in assets.
All staff at First Choice will be offered roles at Beyond.
Founded in 1970, the credit union served staff from shire councils in the NSW Central West. It has branches and agencies in five locations.