DEBDEN, Saskatchewan–Two credit unions in Northern Saskatchewan have announced plans to merge by 2019. The boards of both Debden Credit Union and Diamond North Credit Union said they have agreed to combine, with Diamond North merging into Debden CU.
The two CUs have been talking about a merger since March of 2017, following discussions by Debden CU with other credit unions, as well. to merge the credit unions began in March 2017.
“Our clients will have a lot larger lending capacity and increased products and services such as wealth management and electronic services,” Diamond North CU told northeastNOW.
A vote by members of both CU is scheduled for the spring. If approved, the merged CU would have more than $600 million in assets.
Debden CU said “every effort” will be made to ensure as many jobs can be preserved as possible.