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Assiniboine, Caisse and Westoba Credit Unions Approved to Merge

June 20, 2024 8:01 AM | News


Assiniboine - Caisse - Westoba Credit Unions

(CHRISD.CA COMPOSITE)

The members of three Manitoba credit unions have voted in favour of a merger.

Assiniboine Credit Union, Caisse Financial Group and Westoba Credit Union will become one entity to create one of the largest credit unions in the province and in the top 10 in Canada.

The boards of directors for all three co-operatives had recommended the merger to make them stronger and more sustainable.

Online voting took place between June 6-19. The resolution was passed with 89% of Assiniboine members, 84% of Caisse members, and 88% of Westoba members voting in favour.

Assiniboine, Caisse and Westoba are expected to merge effective January 1, 2025, after obtaining the necessary approvals, creating Assiniboine Credit Union / Caisse Assiniboine. The new credit
union will have a combined 50 branches, 216,000 members, $9.6 billion in assets, and the widest geographic reach of any credit union in Manitoba.

“As a merged organization, we are committed to continuing our work with partners for mutual benefit and the common good, dedicated to the International Co-operative Principles and the B Corp Declaration of Interdependence,” said Crystal Laborero, board chair of Assiniboine Credit Union, in a statement.

“We believe a merged credit union will have even greater capacity to create shared value for employees, members, and communities.”


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Tags: Manitoba