Members of Manly Warringah Credit Union in Sydney have voted down a plan to merge with Sutherland Credit Union.Last week, members "voted not to proceed with the proposed business partnership… but to retain the existing operating model, maintaining a focus on our core northern beaches community," says a statement on the credit union's website in the name of Gary Thomson, chair of the credit union.MWCU has assets of A$118 million and made a net profit of $25,000 in the year to June 2012.Meanwhile, Service One Members Banking, in Canberra, is scouting for a partner.In its latest newsletter, the chief executive, Peter Carlin, wrote: "With the view of improving how we do business, we have been working closely with several other like-minded credit unions to look at alternative business approaches to help us operate more effectively in what looks like continuing to be a difficult landscape. "That work is coming to a close and I'm hopeful we'll be able to make some exciting announcements over the coming months."To cut costs, SOMB, with $290 million in assets, recently closed three branches.