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Three Saskatchewan credit unions – Conexus, Cornerstone, and Synergy – will be merging after they said their members voted with “clear support” for the move.
According to a news release from the companies, voting happened online and in person at branches in early June, with more than 86 per cent of the voters at each credit union in favour of the merger.
“This strong vote of confidence from members confirms the shared vision and commitment to building a stronger, more resilient credit union that remains member-focused and dedicated to a thriving Saskatchewan,” the three credit unites noted in the release.
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They’ll merge into one credit union on January 1, which is to be governed by a board of twelve directors – six from Conexus and three each from Cornerstone and Synergy.
The new, single credit union will serve 200,000 members, with 57 branches, in 50 communities and 1,400 employees.
“This successful vote confirms what we’ve always believed: by coming together, we can build a provincial credit union that’s more member-focused, sustainable, and competitive,” said Heidi Schofer, board chair of Cornerstone Credit Union, in the news release.
“In the face of rising costs, economic uncertainty, and evolving expectations, we are choosing strength through partnership—so we can serve our members better today and for generations to come.”
The new credit union will adopt the name of one of the three existing unions following the merger.
