Illawarra Leagues has advised members it intends to pursue the amalgamation, under which it will be dissolved, as has Collegians, which will continue.

Members of both clubs will soon be asked to approve the amalgamation.

Since February Illawarra Leagues has sought and received interest from clubs including Wests Illawarra, Steelers, the Fraternity Club, Wollongong Golf Club and Miranda RSL.

Amalgamation documents say Illawarra Leagues will be liquidated as its facilities become premises of Collegians, while the board of Collegians would become the board of the amalgamated club.

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Collies would maintain the "traditions, amenities, culture, facilities and memorabilia" of Illawarra Leagues, the Memorandum of Understanding signed between the two clubs states.

The new club would also improve and upgrade the poker machines, clubhouse and surrounds, social activities, and food and drink available at the Leagues club. It would also continue its $3000 annual payments to St Vincent de Paul and Illawarra Leagues Social Golf Club.

Last year Collegians completed another amalgamation, with the Port Kembla Leagues Club, and it is easy to see why it is one of the giants in town.

Collegians' annual report from last year showed its membership had reached 23,299, up from 19,577 the year previous. It logged a profit for the 2018 financial year of $751,000, down from $2.04 million the previous year.

Collegians has property and assets valued at more than $66 million, with sales and revenue of more than $35 million for the year.

Illawarra Leagues, on the other hand, made it into the black for 2017 because it sold some of its poker machine entitlements. Without this, the result would have been a loss of $227,000.