Three Manitoba credit unions have been approved to become one after a proposed merger was given the green light.
Members of Access Credit Union, Noventis Credit Union, and Sunova Credit Union voted to approve the merger earlier this week and the results were shared during an online meeting Thursday night. Each credit union achieved the required two-thirds majority vote for membership to accept the special resolution.
The three credit unions will become one entity on July 1, 2022, and be known as Access Credit Union.
“I am thankful to our membership for their overwhelming show of support for this merger and in the many conversations we have had over the past few months,” said Ingrid Loewen, board chair of Access Credit Union.
“We’re excited by this outcome because of the opportunities the merger will bring to our members, employees, and local communities.”
The merged credit union will have more than $9 billion in assets, over 168,000 members, nearly 800 employees, and 52 branch locations. The added scale and resources will allow the amalgamated credit union to invest more in technology, products, and services to benefit its members and local businesses.
All employees at the credit unions will continue to have a role within the new organization, including Bill, Sunova’s D.O.G. (director of greetings).