The parent corporate group and financial ecosystem encompassing MyState Bank was formed through the historic merger of MyState Financial and Tasmanian Perpetual Trustees Limited in September 2009. Prior to this landmark corporate union, the banking side of the organization existed through a long line of Tasmanian credit unions and mutual building societies, including Island State Credit Union and Connect Credit Union, which consolidated to build the financial scale necessary to compete nationally. By bringing together the wealth management expertise of Tasmanian Perpetual Trustees and the retail banking services of the credit unions, the unified corporate group adopted the MyState Limited identity, operating across personal banking, home loans, and trustee services.