SAULT STE. MARIE, Ontario–Two credit unions in Ontario are offering to make a donation to help fight food insecurity for every member who votes on a pending merger.
Northern Credit Union, which has locations in the Sault and Algoma areas of the province, and Copperfin Credit Union, which serves the Thunder Bay and Kenora area, said they will donate $1 to fight of food insecurity in Northern Ontario.
Voting on the merger opens June 3.
In a statement that will sound familiar to credit unions in the US., the two Canadian CUs said the merger will enhance technology, broaden the spectrum of products, bolster financial stability, and fortify commitments to members and local communities in the north.
‘Transformational Opportunity’
“The impending merger represents a transformational opportunity, driven by a shared vision to deliver superior service, comprehensive product offerings, and a dedication to community enrichment,” Richard Adam, president & CEO of Northern Credit Union, said in a statement. “This is a pivotal moment in our merger journey, where members from both credit unions have the opportunity to exercise their democratic rights and influence the course of the future of our organizations.”
If approved, the merged credit union will operate under the Northern Credit Union brand and both current CEOs will share the top job supported by a “more geographically diverse board of directors,” according to the two CUs.
‘Minimizing Impact’
“As this process unfolds, both organizations are committed to minimizing any potential impact on members, prioritizing exceptional service, and maintaining a personalized approach to member relations,” Dennis Alvestad, CEO of Copperfin Credit Union, said in a statement. “Through proactive engagement and trust-building, we will enhance the opportunities for our employees while upholding our commitment to the community and individual member needs. The success of this merger and the realization of its full potential rests in the hands of our members.”
Additional information on the merger and the donation can be found here.
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