News Merger Update
Members will be aware of our announcement in June 2009 of a proposed merger with IMB Ltd. After considerable due diligence by both organisations we decided to cease merger negotiations in December 2009 due to some major operational issues. The primary difficulty was the substantial investment by both parties in information technology systems and the contractual arrangements around these systems which would have been costly to break.
With the Global Financial Crisis now behind us and profitability restored to sound levels your board is confident that we can continue to grow and provide our members with great value financial products and excellent service.