Three Saskatchewan Credit Unions have agreed to merge, creating a new chapter of financial opportunity in the province.
The membership votes are in on the Conexus, Cornerstone and Synergy Credit Union merger, showing a solid core of support from each of the three systems.
The resolution was passed with 87.5 percent of Conexus members voting in favour, 86.5 percent in favour from Cornerstone and 88.7 percent from Synergy giving the OK.
Voting took place in branches of each of the three credit unions and online from June 3 – 13. The vote needed to pass with at least 75 percent approval from voting members for the merger to proceed.
The new credit union will have a combined $15 billion in assets under management, along with a membership of over 200,000 with 57 branches in 50 communities and1400 employees.
"On behalf of the Board of Directors, I want to thank our members for their overwhelming support and confidence in this decision,” said Ken Kosolofski, Board Chair of Conexus Credit Union in a joint release. “This merger reflects our long-standing commitment to doing what’s best for our membership, now and in the years to come. Together, we’re creating a foundation for continued strength, stability, and growth."
Official steps toward finalizing the merger have begun, which will execute the legal and regulatory processes and announce the name and CEO of the new financial entity. The CEO and credit union name will be selected from one of the three existing credit unions before the merger becomes official on January 1, 2026.
“We want to thank all our members for their participation and support through the consultation and voting process,” said Conexus Credit Union CEO, Celina Philpot in the same release. “Our members are the reason we exist, and it is their voice and their vote that enables us to proceed to build a stronger credit union. This merger presents a significant opportunity for the future of our credit union.”
Steps to integrate the operations of the credit unions will be under way shortly. More information and specifics are available at local branches and the shared website thrivingtogethersk.ca.