Geelong Bank is on the verge of merging with Hume Bank.
The two banks signing a Memorandum of Understanding to look at a merger between the two to create one of the biggest regional banks in the country.
The two institutions have more than 60,000 combined customers.
Geelong Bank Chair Allison Batten said it was an exciting prospect.
“The proposed merger presents an exciting opportunity to combine two banks with a rich history of helping regional people reach their financial goals and grow their livelihoods,” she said.
“The dedication and deep community knowledge displayed by our team members is what makes both banks special.
We are committed to retaining every team member, because they are the ones who deliver the personal, trusted service our members expect.
“Under the proposed merger, Geelong Bank and its customers will form a meaningful part of the future organisation and our brand will continue to be visible in the community.
“A key priority is preserving, branch and community relationships, ensuring that the strong focus in the region remains, while providing access to a broader product suite, enhanced digital services and expanded banking support.”
The statement from the two banks said Geelong Bank customers will have access to a broader and more contemporary range of products to support the needs of the fast-growing Geelong region.
