Three Manitoba credit unions have begun merger discussions, potentially creating a single organization to serve its combined members.
Access Credit Union, Noventis Credit Union and Sunova Credit Union began talks in January after recognizing that ongoing change was necessary for continued growth and to ensure value for their members in an increasingly competitive environment.
Teams from each credit union have completed initial reviews and evaluation that has revealed a potential partnership is worth exploring for the benefit of their members, employees, and communities.
“We are very excited about the potential of this partnership and therefore, decided to share this exciting news with our employees, members and our communities at this early stage in the process,” said Ingrid Loewen, board chair for Access Credit Union.
“All three credit unions have a strong commitment to putting the needs of our members first and to maintain value for our memberships.”
A final recommendation to members could come later this year if ongoing discussions prove to be beneficial. If a merger is recommended, an approval process and vote could take place in the winter of 2022.
Further updates on merger discussions will be provided at cusuccess.ca.
In late August, two other Manitoba credit unions approved a merger among its members. Assiniboine Credit Union and Entegra Credit Union will become one entity on January 1, 2022. Assiniboine Credit Union will retain its operating name once the merger is complete.