Camera courtesy of Voth's Countrywide Panasonic Lumix DMC-TS1
A major Credit Union merger is in the works, and it involves Innovation Credit Union.
Innovation has announced, in a press release issued Wednesday night, a proposed merger with Conexus and Synergy Credit Unions. The merger needs to be approved by the Credit Union membership before it can go ahead.
The three Credit Unions say the newly-formed entity will have more than $6 billion in assets, and will serve 194,000 members from 85 branches. It will also have 11 insurance offices, 6 real estate offices, and 6 mortgage brokerage offices across the province.
The merger will be evaluated by those involved before it is voted on by the membership. There's no information on when the merger will take effect, if it is approved.
Conexus Credit Union is based in Regina, and is the province's largest Credit Union, while Synergy Credit Union is based in Lloydminster and serves west central Saskatchewan.
Innovation Credit Union was the product of a merger between Swift Current-based Southwest Credit Union and BCU Financial in North Battleford in 2007.