Access and Assiniboine Credit Unions merger voted down

A merger between two Manitoba credit unions has been defeated.

Members of Access Credit Union in eight southern Manitoba communities voted down the proposal on Wednesday night for the second time.

Members in Altona, Carman, Grunthal, Morden, Morris, Oak Bluff, Vita and Winkler voted and were 61.8 percent opposed to the merger.

A total of 4,496 people cast ballots.

The merger was narrowly defeated down five months ago.

More than 700 Access Credit Union members voted 63.2 percent in favour, but the proposal needed a minimum of 66.67 percent votes of support.

Access Credit Union Chair Darryl Loewen said he was disappointed by the outcome.

If the bid had been successful, it would have created the largest credit union by assets, branches and members in Manitoba.

A scheduled vote on the merger for Assiniboine Credit Union members on September 21^st is now cancelled.