It was a tough decision that marked the end of an era but it had to be made to ensure community banking remained in Maleny.

Maleny Credit Union Acting Chief Executive John Ford said the demands and expectations of  modern day banking left Maleny Credit Union little choice but to transfer its operation to a larger player.

But he said Queensland Country would maintain a full-service banking presence in Maple Street, renting the current premises. 

“Bunya House will remain an asset of the Maleny community as will the Maleny Charitable Trust,” he said.

Mr Ford said Queensland Country Bank had the capacity to keep pace with modern technology and complex financial regulations that were moving beyond the scope of a small town credit union.

“By retaining ownership of Bunya House and the Maleny Charitable Trust, MCU members will have access to a wider range of banking products and services while retaining the independence to fund local community projects that matter,” said Mr Ford.

Head of Digital and Strategy Matthew Dunnill said Queensland Country Bank had national reach but its roots were planted firmly in regional towns like Maleny. 

“As a member-owned bank, we aim to maintain Maleny Credit Union’s strong commitment to the needs of its customers,” he said. “We are a truly regional bank.”

He said members would have access to enhanced banking alternatives including a modern internet banking platform, a banking app and new payment methods such as ApplePay and Google Pay.

MCU members will be granted membership in the Queensland Country Bank.