The transfer, announced in November 2024, included all banking customers and their loans, credit cards and deposit accounts - representing 29,000 customers, $1.5 billion in loans and credit, and $1.6 billion in deposits.

Group Managing Director, Rohan Mead, said “We’re proud to connect our members with fellow mutual, Bank Australia, offering a larger customer service footprint, greater digital capability and long-term sustainability.”

“We thank our members for their loyalty and trust, and we’re pleased to see them join a bank that shares our commitment to member ownership and mutual values.”

Bank Australia Managing Director, Damien Walsh added, “We’re excited to welcome Australian Unity Bank customers to Bank Australia. This acquisition expands our scale and capabilities so that we can offer customers even greater digital services, impact and community investment.”

Australian Unity Bank Chief Executive Officer, Matthew Ricker said, “This milestone reflects the tremendous effort and collaboration between Australian Unity and Bank Australia. Both teams have worked tirelessly to ensure every detail was managed with care, so that the transition for our customers is seamless and sets them up for a positive banking experience going forward.”

Australian Unity was advised by Flagstaff (corporate) and King & Wood Mallesons (legal).

Ends

Media contact

T: 1300408776
E: media@australianunity.com.au

About Australian Unity

Established in 1840, Australian Unity is a member-owned wellbeing company with more than 370,000 members and more than 700,000 customers. 
Our range of health, wealth and care products and services provides member, customer and community value that is supportive of personal and community wellbeing.