Acquirer: Scallop Credit Union Co-operative Limited; Target: Advance Credit Union Limited

Acquirer(s)

  • Scallop Credit Union Co-operative Limited

Target(s)

  • Advance Credit Union Limited

Summary

On 6 August 2003, the Australian Prudential Regulation Authority informed the Commission of the transfer of business of the Scallop Credit Union Co-operative Limited to Advance Credit Union Limited.

Market definition

Credit unions offer a broad range of financial services similar to that offered by banks and building societies.

The relevant market is considered to be the market for the provision of financial services in Victoria

Competition analysis

The proposed merger will not cross the Commission's concentration thresholds for either the exercise of unilateral market power or combined market power for the provision of financial services, and therefore a substantial lessening of competition is unlikely to occur.

Merger type

Horizontal

Guidelines thresholds

Below

Imports above 10%

Unknown

Initiation

Other

ANZSIC code

7323