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Update on the proposed merger with Hume Bank
After a detailed process of due diligence, consultation and strategic assessment, the Geelong Bank Board is unanimous in recommending the merger with Hume Bank.
In Hume Bank, we have found a merger partner that shares our commitment to customer ownership, strong member relationships and community outcomes. We are delighted that the merged bank will bring all the benefits of a larger bank all while keeping its community focus and commitment to regional areas.
Merger documents lodged with APRA
In early November, we achieved a key milestone in our merger. The formal application has been lodged with the Australian Prudential Regulation Authority (APRA) and APRA is currently reviewing the merger proposal.
What are the next steps?
The length of the APRA review period is uncertain; however, we are hopeful that we will be able to send the notice of the Members' Special General Meeting in March 2026 and then hold the Meeting in April 2026.
While APRA undertakes its review and until the time when members can vote on the merger, we are preparing to integrate both banks so we can move quickly once approvals are in place.
More choice, more value - Why the merger will benefit members
One of the most immediate benefits of the proposed merger is the expanded range of products and services that will be available to Geelong Bank members once integration is complete, including:
- credit cards and digital credit cards
- loan products including bridging finance and line of credit loans
- home, car, landlord, caravan and boat cover insurance products
- business accounts and business overdrafts
- bank guarantees.
Many everyday fees will be cut or removed altogether, and members will gain the increased customer support that comes with being part of a larger organisation.
Member engagement sessions
In early December, members had the opportunity to meet Hume Bank CEO, Stephen Capello, and learn more about the values and philosophy of our merger partner. Stephen spoke of Hume Bank’s commitment to branches and relationship banking in the bank’s home markets which will include Geelong after the merger.
We are planning to hold another members’ briefing session in the new year and will also incorporate an online session for members who prefer the convenience of an online event.
Geelong Bank CEO, Graham Fryer with Hume Bank CEO, Stephen Capello, during Stephen's recent visit to Geelong to meet with Geelong Bank staff and Members.
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