Sunova Credit Union and Oak Bank Credit Union will become one after members of the latter voted this week to amalgamate.
“We are thrilled to welcome Oak Bank Credit Union’s staff and members to the Sunova family,” said Sunova president and CEO Ed Bergen.
The amalgamation will take effect on July 1, 2018. All current Oak Bank Credit Union staff will have positions with Sunova and a branch will remain open in all three communities where Oak Bank Credit Union currently has branches: Oakbank, Dugald, and Bird’s Hill.
Office administration staff from Oak Bank Credit Union will transition to Sunova’s corporate office in Selkirk, while front-end customer service staff in Oakbank will transfer to Sunova’s Oakbank branch.
All existing mortgage, loan, and term deposit contracts members have with Oak Bank Credit Union will be honoured during the transition. Upon renewal, all conditions will be reviewed and re-negotiated as usual.