Combination follows Qudos integration as COB combinations show no signs of slowing down
Bank Australia has officially welcomed 29,000 new customers following the acquisition of Australian Unity’s banking operations.
The latest in a long line of mutual banking mergers sees Australian Unity’s customers join Bank Australia’s client base of over 320,000 people.
Bank Australia managing director Damien Walsh (pictured) said this acquisition represents a significant milestone in the bank’s strategy to grow its impact and deliver long-term value to customers.
Bank Australia just recently completed its merger with Qudos Bank in July, amid a continuing groundswell of mergers in the customer-owned banking sector.
Just this weekend, members of Regional Australia Bank and Summerland Bank endorsed a planned merger scheduled to take effect in July 2026.
“We’re excited to welcome Australian Unity’s banking customers to Bank Australia,” Walsh said. “This acquisition is about creating the scale and capability to deliver an even greater customer experience for our customers into the future.”
Australian Unity chief executive and group managing director Rohan Mead said the transition reflects Australian Unity’s long-standing focus on supporting the wellbeing of Australians.
“Bank Australia’s values and customer-owned model align closely with our own, and we’re confident this move will deliver strong outcomes for our banking members,” Mead said. “We thank our members for their loyalty and trust, and we’re pleased to see them join a bank that shares our commitment to member ownership and mutual values.”
Australian Unity’s customers have already been migrated to Bank Australia’s systems, giving them access to new digital banking tools and customer service channels.
