Manitoba-based Access Credit Union has entered discussions to merge with Amaranth Credit Union.
Amaranth, the smaller of the credit unions with 1,200 members, expressed interest in merging with Access earlier this year.
“We continue to look towards building a credit union for all Manitobans. Amaranth shares that perspective and these merger discussions are focused on how to extend that vision to Amaranth and its surrounding communities,” said Kevin Beresford, board chair for Access Credit Union.
Amaranth Credit Union will continue to engage with its members and employees as its board prepares to make a recommendation on the proposed merger. Should the board choose to recommend a merger, they will seek membership approval in the fall of 2022.
Access Credit Union merged with Crosstown Civic Credit Union in 2021. Last year, Access also merged with Noventis and Sunova Credit Unions to become the largest credit union in Manitoba with more than $10.15 billion in assets and nearly 170,000 members.
Amaranth has $18 million in assets, one branch, and 10 employees in Amaranth, Manitoba.