Summerland No More: Members Approve Bank Merger
Summerland Bank — a proud Northern Rivers institution for more than 60 years — will disappear as a standalone brand next year after members overwhelmingly backed a merger with Regional Australia Bank.
The decision follows months of discussion and earlier scrutiny from local customers who questioned whether the bank could preserve its “local touch” — a concern sharpened by memories of CEO John Williams sandbagging outside the River Street branch during Cyclone Alfred in March, an image that became symbolic of community banking at its best.
Summerland CEO welcomes ‘shared vision’
Mr Williams said members have endorsed a merger built on shared values and a commitment to regional communities.
Mr Williams sandbagging the Ballina branch of Summerland Bank as Cyclone Alfred approached
“Summerland Bank and Regional Australia Bank share the vision and values as a community-focussed customer-owned bank. By approving the merger our members will enjoy more branches, greater support for local communities, a wider range of products and better services.”
He said building scale is essential to maintaining personalised banking in a rapidly changing industry.
“Resilience will be supported through shared infrastructure, broader geographic reach, and increased financial capacity—allowing us to continue delivering personalised service while adapting to changing market conditions.”
These comments echo those made earlier in the year by Mr Williams when he implored members to support the merger ahead of its approval by the regulator APRA, clearing the way for the members’ vote.
Members deliver their verdict
At the Annual General Meetings this week, more than 96 per cent of members from each bank voted in favour of the proposal.
Summerland members voted on November 19 in Lismore, followed a day later by Regional Australia Bank members.
With APRA’s approval already secured, the merger will now proceed to implementation. The new customer-owned bank is expected to launch on 1 July 2026, serving more than 130,000 customers, operating 49 branches across regional NSW and southern Queensland, and managing over $5 billion in assets.
Both banks have again promised:
- No branch closures
- No staff losses
- Continued service across all locations
Whether the commitment extends to senior executive positions in Lismore remains unconfirmed — an issue previously flagged by some customers.
Regional Australia Bank welcomes the vote
Regional Australia Bank CEO David Heine said the result strengthens regional banking at a time when many communities feel left behind by the big four.
“We are thrilled that our members have embraced this merger. Today’s vote reinforces our commitment to regional Australia.”
Regional Australia Chair Michael Fenech said the union of two strong mutual banks will mean improved access and better pricing.
“Together we will be able to provide members with wider access to personalised face-to-face banking, sharper pricing and new products underpinned by the same great service.”
Two banks with deep regional roots
Summerland Bank began in 1964 as Summerland Credit Union, founded by locals in the Northern Rivers and guided by strong social and environmental values. It employs more than 120 staff and recently rebuilt its Lismore headquarters after the floods.
Regional Australia Bank traces its origins to 1969 as a credit union formed in Armidale. It has since grown through mergers, most notably with Holiday Coast Credit Union in 2016, expanding across regional NSW.
Both banks are known for investing in local projects, events and jobs — a tradition they say will continue.
What comes next
Members will continue to receive updates as work begins to integrate systems, products and staff ahead of the July 2026 transition.
As Mr Williams told members:
“This partnership marks an exciting next chapter. It will allow us to keep doing what we do best — supporting regional people and communities, while giving us the strength to do even more.”
