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Australian Credit Union Votes to Keep Investors Out

The members of the Police and Nurses Credit Society, an Australian credit union, have voted to prevent people from joining the credit union solely to benefit from any possible demutualization in the future. Rumors about possible demutualization have swirled around PNCS lately.

By Staff Writer | Updated on August 29, 2006

PERTH, Australia — The members of the Police and Nurses Credit Society, an Australian credit union, have voted to prevent people from joining the credit union solely to benefit from any possible demutualization in the future. Rumors about possible demutualization have swirled around PNCS lately.

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