Access, Assiniboine credit unions eye merger
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Hey there, time traveller!
This article was published 25/02/2015 (3958 days ago), so information in it may no longer be current.
Access and Assiniboine credit unions are proposing to merge their operations to create the province’s largest credit union
The merger is subject to approval by the members of both institutions, who will cast their votes on April 22. If approved, the merger will take effect on Oct. 1.
Although Assiniboine is the larger of the two — it’s the second-biggest in the province while Access is the fifth — the new entity will be called Access Credit Union.
The new entity will boast 38 branches, more than 154,800 members, and $5.7 billion in assets.
Because there is no geographical overlap between the two operations, no existing branches will be closing and no employees will lose their jobs, officials said.
In addition to being the largest credit union in Manitoba, the new entity would also the sixth-largest in Canada.
History
Updated on Wednesday, February 25, 2015 11:53 AM CST: Adds photo