The Board of Directors of both Community First Credit Union and CAPE Credit Union are very pleased to announce the proposed merger of both mutuals, which is expected to take place in mid 2018.

The proposed merger brings together two credit unions who enjoy shared values. Both organisations are firmly focused on creating and returning value to members and believe in supporting the communities in which our members live and work. As a result, Community First members can also look forward to having a store presence in the Sutherland Shire where CAPE is headquartered.

The merger will see the two credit unions working together to create efficiencies through eliminating dual costs and delivering improved services, products and technology. This will ensure that the combined membership continues to have access to a credit union that not only meets their current and future financial needs in this highly competitive environment, but is also a financially stronger and successful banking alternative for the benefit of members and the wider community.

There are a number of interim regulatory approvals and other steps required before the merger is finalised, however both entities consider this merger to be in the best interests of all members.

Last updated: 22 March 2018

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