Text text size decrease text size increase

Media Release - Gosford City

Attention: open in a new window. Print

Maritime, Mining & Power Credit Union and Gosford City Credit Union join forces

The Boards of Maritime Mining & Power Credit Union (MMPCU) and Gosford City Credit Union have entered into a Memorandum of Understanding to merge the two organisations.

The chairmen of the two credit unions, MMPCU’s John Coombs and GCCU’s Marc Worner are confident that the proposed merger will receive the support of members due to the substantial benefits that will flow from combining the strengths of the two successful organisations.

Under the agreed terms of the merger the Gosford office will remain and the “Gosford City Credit Union” name and existing employees will be retained. There is also a commitment to provide a greater level of community support through the establishment of a “Community Support Fund”.

Mr. Marc Worner, Gosford City Credit Union’s Chairman said that “The Board was committed to joining forces with a credit union that had a vision and plan to look after the interests of members, staff and the communities that Gosford has served over the past 45 years. In MMPCU we have found that partner and the merger will provide members with additional products, greater branch access and extremely competitive pricing”.

MMPCU Chairman, Mr. John Coombs said “Following our recent merger with Power Credit Union we have been expanding our services into the Central Coast which is a region where many of our existing members reside. Our operations in Budgewoi and surrounding communities have confirmed the tremendous opportunities that exist in the Central Coast and we are extremely confident that this merger will provide significant benefits for the region”

Whilst both Credit Unions are in a strong financial position, the Boards are mindful of the importance of planning for the future to ensure the organisation’s longevity and successful delivery of members’ needs is sustained for many generations to come.

Contacts:

Mark Genovese
Chief Executive Officer
Maritime, Mining & Power Credit Union
Ph 02 8263 3228
Mobile 0400 240125
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Kim Cook
Chief Executive Officer
Gosford City Credit Union
Mobile 040932-0240
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

MMPCU was formed in 1970 to cater for workers employed within the maritime industry and their families. Over recent times their bond has been expanded to cater for mining and energy communities in regional Australia. It has branches in all of the mainland capital cities as well as Lithgow, Cessnock, Muswellbrook, Port Kembla, Newcastle, Port Botany, Warners Bay, and Moranbah. MMPCU has 21,000 members and assets of $460 million

Gosford City Credit Union was formed in 1965 and has sustained continual growth over the past 45 years to build its asset base to over $15 million. Its 1,500 members are largely concentrated on the Central Coast of NSW centred around Gosford and surrounding communities.

  • Security Awareness
    The Internet is an incredibly useful tool for many businesses, and ours is no exception. In this ...
  • Winsurance Winner
    Congratulations to Joanne from Budgewoi for winning the Winsurance Promotion. Joanne won a Home E...
  • Removal of $3 card fee
    From the 1st of July 2010, all members will no longer pay the $3 card fee for Redicards and Visa ...
  • CUtips Login link has moved
    Our CUtips login has now moved to the Quick links section (above the interest rates) on the homep...