Combined entity to operate under G&C before transitioning to Unity Bank in July
The merger between G&C Mutual Bank and Unity Bank has officially taken effect, following regulatory approval and a strong member vote.
The legal merger and banking system integration were completed on Friday, marking the culmination of more than 18 months of planning.
Unity Bank chief executive Danny Pavisic (pictured above left) and G&C Mutual Bank CEO Rosanna Argall (pictured above right) stated that the merger strengthens the banks’ position as one of the leading member-owned financial institutions in Australia.
“Both organisations have always prioritised the needs of our members and the communities we serve, and this merger creates an even stronger platform for us to fulfill that mission,” they said in a joint statement.
“As we move forward together, we are excited to offer even greater benefits to our members and continue our legacy of trust, service, and community engagement.”
Members of the newly combined bank will gain access to a larger branch network, a broader range of financial products, and a commitment to maintaining personalised service, they added. The merger is also expected to bring lower fees, increased investment in technology, and operational efficiencies.
The combined entity has total assets of $3.8 billion, positioning it for continued growth. Initially, the organisation will operate under the name G&C Mutual Bank Limited, transitioning to Unity Bank Limited on July 1. The G&C Mutual Bank, Unity Bank, and Reliance Bank brands will remain in use but will be unified under the Unity Bank brand over the next year.
When the merger was first announced in 2023, it was agreed that Pavisic would lead the merged entity as CEO initially, while Argall would serve as deputy CEO. Argall is set to take over as the long-term CEO after 12 months.
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