Ann: Change of Director's Interest Notice, page-5

Interesting article in The Weekend Australian, 2-3 November re CUA predicting more credit union mergers as smaller operators battle low interest rates and an ageing population. Small lending institutions margins are being squeezed / impacted worse than when compared to the big 4 banks. CUA goes onto say that scale is going to have to be the evolution and it is scale that drives revenue. Advancement and take up of technology will be another driver of profit growth.

MYS share price has been very bullish in recent times touching a high of $4.85 on Friday. The company announcements / forecasts are not that bullish imo as MYS has mentioned that difficult times are ahead and they have closed some branches to help with their bottom line.

I have previously mentioned MYS maybe a take over target or as CUA say in the credit union sector, merge or disappear. One can speculate why the share price of MYS has risen in recent times against a negative outlook but a merger or takeover maybe behind the activity.

It is doubtful the banking / credit union space will look the same in 5 years time as it is today. BEN, BOQ, MYS, SUN, AMP, CUA & others may merge or be involved in a take over. MYS is small fry but all the same it would make a nice bolt onto one of the above institutions for example.

There is more to the recent share price appreciation than we know. Is someone accumulating, betting on corporate activity? Time will tell. DYOR