In a landmark decision for regional banking in Australia, members of Regional Australia Bank and Summerland Bank have overwhelmingly voted in favour of a proposed merger between the two customer-owned institutions.
On November 19, 96 per cent of Summerland Bank members backed the proposal. The following day, Regional Australia Bank members voted 96.72 per cent in favour, marking a significant step forward in the integration of two of the country’s longstanding regional banks.
What the merger means for members
In a joint message to customers, the leadership of both banks emphasised continuity, community, and commitment to staff.
“The friendly faces you know, and trust, will remain here to support you. Our commitment to our team means the merger will not result in any job losses.” said David Heine, CEO, Regional Australia Bank.
The statement highlights that the merger will not impact frontline staffing, with no redundancies planned. This approach aims to maintain customer relationships and service levels, a hallmark of the mutual banking model.
Familiar names and services to stay- for now
“Both banks will continue operating under their current names for a period following the proposed merger date of 1 July 2026.” said Heine.
This transitional period is designed to minimise disruption and allow for a gradual rollout of a unified brand. Customers will retain their existing account numbers, online access, and branch services in the short term.
“There will be no immediate changes to account numbers, online access, or branch availability over the coming months.”
Both institutions have committed to clear communication and member support throughout the integration process.
What’s next?
The merger will officially take effect from 1 July 2026, at which point the combined organisation will manage over $5 billion in assets, serve more than 130,000 members, and operate 49 branches across regional New South Wales and southern Queensland.
While further details about branding and leadership structure are expected in the lead-up to the merger date, the boards of both banks have framed the move as a strategic alignment that strengthens their ability to serve regional communities amid broader sector consolidation.
Members with questions or concerns are encouraged to contact the bank directly via enquiries@regionalaustraliabank.com.au or call 132 067.
Something going on in your part of the New England people should know about? Let us know by emailing newsdesk@netimes.com.au