Mergers

In early April 2008, members of Maritime Workers' Credit Union overwhelmingly approved the merger with Power Credit Union .

Over 97% of members who voted (1,700 in all) endorsed the Boards recommendation. To be known as the Maritime, Mining & Power Credit Union and starting operations form 1 July 2008, the credit union will focus on meeting the needs of workers in the industrially based heartland of the maritime, mining and power industries and their families. This momentous change will create a member owned financial institution with over $400 million in assets, thus enabling the Credit Union to continue to provide superior service and competitive rates.

At the same time the two MUA super funds SRF and SERF are are joining forces to become one super fund for the maritime industry.

'Maritime Super' was launched at the Patrick Dispute 10th Anniversary Dinner at the Maritime Union of Australia's National Conference by Paddy Crumlin, the MUA National Secretary and a director of both super funds.

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