Today marks an important milestone as the merger-of-equals between G&C Mutual Bank and Unity Bank takes effect, with the legal merge and banking system integration taking place on 7 March 2025. This follows the earlier regulatory approval and overwhelmingly positive member vote and is the culmination of over 18 months of planning and collaboration by staff across both organisations.
Unity Bank CEO Danny Pavisic and G&C Mutual Bank CEO Rosanna Argall noted that the successful completion of the merger helps secure a strong future as one of Australia’s leading mutually owned banks.
"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. 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.”
Member benefits of the merger include access to an expanded branch network, continuity of access to exceptional staff and face-to-face service, improved product range with fewer and lower fees, increased ability for technological investment, scale efficiencies and a continued commitment to member first principles of mutuality.
At a combined $3.8b in assets, the merger provides even greater opportunity to continue the strong growth of the organisations, with both having tracked well above system growth in recent years.
The merged entity will be G&C Mutual Bank Limited immediately following the merger, changing to Unity Bank Limited from 1 July 2025. The G&C Mutual Bank, Unity Bank and Reliance Bank brands will be retained and consolidated into a single Unity Bank brand over the next 12 months.
