Members support Credit Union

CAPRICORNIA Credit Union members and staff have rallied behind the business and are determined to avoid a hostile take-over bid by Mackay Permanent Building Society.

Credit Union general manager Peter Mogg said yesterday that staff were shocked when told of the bid on Tuesday night but had adopted a business-as-usual attitude.

"They are determined to continue working.''

He said the business had been inundated with calls of support from members who did not want to see the business fall into the hands of MPBS.

"People have been calling in saying they are outraged by the takeover attempt.

"They have said they don't want anything to do with Mackay Permanent Building Society.''

However, Mackay Permanent chief executive Bob Neely said merging the two companies would benefit CCU members.

"A merger would create an organisation with sufficient scale to add further to the branch network and to develop new products to offer to customers.



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