*** N OT I C E ***

Auditor resignation and appointment

On 7 October 2021, the Company received notice that the Australian Securities & Investments Commission (“ASIC”) had consented to the resignation of BDO Audit Pty Ltd (the Company’s auditor). In accordance with requirements in the ASIC correspondence, the Company advises:

  1. The outgoing auditor is BDO Audit Pty Ltd (ACN 134 022 870, AAC 332285)(“BDO”).
  2. The incoming auditor is SAAS Audit Pty Ltd (ACN 164 950 056, AAC 458246).
  3. The reason for the proposed change in auditor is that following transfer of the banking business to Queensland Country Bank Limited, the Directors determined, in consultation with BDO, that a change in auditor would enable an auditor with a better fit for the change in the revised operations of the company and result in a more cost effective outcome for members.

We would like to take this opportunity to express our thanks to BDO for services provided to the Company since 2009 and during the transition of our banking business to Queensland Country Bank Limited.

To discuss the above matters, please contact me directly (07) 3218 3033.

By order.
MCU Limited
8 October 2021

(1 April 2021)

We hope members have had a pleasant experience banking with QCB. The transition has been very smooth from an administrative point of view.

Moving forward, you are still a member of MCU Ltd and have a $10 member share with us. MCU still owns the building, and QCB occupies the whole top floor as our tenant. We are working on plans for the use of the downstairs area.

The Board of MCU has not changed, and we are working, in a voluntary capacity, toward a new direction for MCU so that it can continue to support the community. There are some significant administrative issues that we are working through, but hope to update all members with some ideas for consideration in the next few months.