Skip to main content

Three Manitoba credit unions approve merger

Money
Share

The member-owners of three major Manitoba credit unions have voted in favour of a merger.

Assiniboine Credit Union, Caisse Financial Group and Westoba Credit Union announced the news in a release on Wednesday, saying the merger will create a “uniquely Manitoba credit union.”

The organizations are expected to merge effective Jan. 1, 2025. The new credit union will have 50 branches, 216,000 members, and $9.6 billion in assets.

“We believe a merged credit union will have even greater capacity to create shared value for employees, members, and communities,” said Assiniboine board chair Crystal Laborero in a news release.

The boards of directors at all three co-operatives recommended the merges as a way to make the organizations more sustainable.

Voting took place from June 6 to June 19. The resolution was passed with 89 per cent of Assiniboine members, 84 per cent of Caisse members and 88 per cent of Westoba members voting in favour.

CTVNews.ca Top Stories

Who is Usha Vance, the wife of Trump's running mate?

JD Vance has had several introductions to the American people: as the author of a memoir on what ails the White working class, as a newly elected Republican senator in his home state of Ohio and, on Monday, as his party’s nominee for vice president. His wife, Usha, has been by his side through it all.

Stay Connected