Credit unions asking members to vote on merger

Three Saskatchewan Credit Unions are recommending a merger to their members.

Conexus, Cornerstone and Synergy credit unions made a joint announcement, saying their boards’ unanimously approved the recommendation to merge.

It will now be up to the members, who will likely vote in June.

If the merger proceeds, the new credit union will be the largest in Saskatchewan and one of the largest in Canada with $15 billion in assets under management.   The three credit unions say not branches will close if the merger is approved.

Details of the proposed merger can be viewed here.