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The merger between Conexus, Cornerstone and Synergy credit unions has been approved following a member voting period earlier this month.
The resolution needed a 75 per cent approval rating from members in each credit union to pass, and it was announced this morning that 87.5 per cent of Conexus members voted in favour of the merger, with a further 86.5 per cent from Cornerstone and 88.7 per cent from Synergy.
"We are incredibly grateful to our members for their strong support and shared vision for the future. 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. 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," said Heidi Schofer, Board Chair of Cornerstone Credit Union in the official announcement.
The newly merged credit union will serve over 200,000 members across 57 branches across Saskatchewan, managing a combined $15 billion in assets.
“We want to thank all our members for their participation and support through the consultation and voting process. 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," said Celina Philpot, CEO of Conexus Credit Union.
The merger will officially be complete by January 1, 2026, once the remaining legal and regulatory processes as well as the CEO and new credit union name are finalized. The new credit union will be governed by an inaugural board of 12 directors, six from Conexus and three from both Cornerstone and Synergy Credit unions. It was noted in the announcement that the CEO and credit union name will be selected from one of the existing credit unions.
Conexus Credit Union is the largest of the three credit unions, with 145,000 members, 900 employees spread across 30 locations and over $10 billion in assets under their management.
Cornerstone Credit Union serves 30,000 members in east-central Saskatchewan, managing over $2.7 billion in assets across 15 branches.
Synergy Credit Union is the fifth largest in the province, with 12 branches in west-central Saskatchewan. It has 27,000 members and 238 employees, managing approximately $2.8 billion in assets.