Big Sky to vote on joining Australian Unity
Members of Big Sky Credit Union will soon cast their vote on the proposed mergers and acquisitions with Lifeplan Australia Building Society, a wholly-owned subsidiary of Australian Unity.
Under the terms of the proposal, the products and services currently offered by Big Sky would be continued by the combined entity, which would be renamed Big Sky Building Society.
The new entity would have an estimated 34,000 customers with $650 million in gross assets.
The vote will be cast at a meeting in Melbourne on 23 February, with 75 per cent of Big Sky members required to vote in favour of the proposal for it to be approved.
Chief executive officer of Big Sky Tony Ryan said information meetings have been held for Big Sky members around Australia about the proposed merger, which has the support of all its directors.
"Members would immediately have access to an Adelaide service centre and we would seek to establish further centres in Western Australia, South Australia, Queensland and Victoria over time," Ryan said.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
