BY DAKOTA TAIT
The boards of Newcastle Permanent and the Greater Bank have both endorsed the proposal to merge the Hunter mutuals.
They've signed a Merger Implementation Agreement, meaning its now up to the Australian Prudential Regulation Authority to review the decision.
Together, the mutuals would have a combined customer base of almost 600,000 people.
Members will have the opportunity to have their say at meetings later this year.
Both brands are expected to be retained as part of the merger, and there won't be any branch closures or forced redundancies for at least two years.
