WINNIPEG, Canada–Three credit unions in Manitoba are looking to merge and become one.
Westoba Credit Union, Caisse Financial Group and Assiniboine Credit Union have all asked their members to vote in favor of the combination, which they say will create a stronger organization. The three CUs have a combined 970 employees and 216,000 members.
A vote is scheduled for June and, if approved, the new entity would begin operating Jan. 1, 2025.
"Members can expect more information to come shortly on the opportunity to vote," Westoba Credit Union president and CEO Jim Rediger told the CBC, adding the June vote date hasn't been set yet.
To Serve Both French & English Speakers
The merger would create the only financial co-operative to serve both English and French-speaking communities across Manitoba, according to the report. The credit unions’ websites all urge members to vote “Vote Yes and Oui.”
"I think our members have come to appreciate that we're trying to create a financial co-operative that's strong, sustainable and enduring for the long term. I think they appreciate the fact it's rarely uniquely Manitoban in terms of what we're trying to accomplish," Rediger said, according to the CBC.
Additional Benefits Cited
A merged credit union, with a provincewide network of 50 locations would allow it to support rural communities, the Francophone population, values-based banking and give members digital experiences, competitive rates and cybersecurity measures, he said.
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