19/08/2026
Today marks an important milestone for TMCU and our members. Police Bank and Transport Mutual Credit Union (TMCU) have signed a Memorandum of Understanding (MoU) to explore a merger between the two member-owned banking organisations.
Our Board has considered this opportunity carefully and believes the proposed merger is in the long-term best interests of TMCU members. Police Bank shares our member-first values and strong connection to an occupational community, and joining a larger mutual would give our members access to greater continued investment in products, services and technology – while remaining within a member-owned bank.
For members, nothing changes today: accounts, products and everyday banking continue as usual, and there will be no branch closures or job losses as a result of the merger. TMCU members will have the opportunity to vote on the proposal, and we’ll share clear information about the merger and next steps as the process progresses.
