Merger Would Create Uniquely Manitoban Credit Union
Winnipeg MB (April 19, 2024) — On Wednesday, the boards of directors of Assiniboine Credit Union, Westoba Credit Union and Caisse Financial Group announced that they will be asking their members to vote on a proposal to merge the three organizations.
Assiniboine Credit Union (ACU) is the parent company of Outlook Financial.
The boards based their decision on a comprehensive business case, which was put together over months of consultation and due diligence. The boards and management of all three organizations are confident not only that this merger is a good idea, but that it is filled with possibilities.
“To continue meeting the needs and wants of our members, we should merge now,” says ACU Board Chair Laborero. “If we wait, mergers will continue to happen all around us. With the landscape changing so quickly and dramatically, it’s imperative to merge now as strong partners.”
Members want more options to bank when and where they need to, and the right tools to succeed financially. This merger would enhance our ability to offer new products and services with competitive rates and fees, continue to focus on cybersecurity, increase access to specialized expertise, and better position us to invest in the digital banking experiences members expect.
Deposits in the merged credit union would continue to be 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.
If the proposed merger is approved by members in a June vote, the new credit union would be the only purpose-driven financial co-operative in the province to carry both a French and an English name. Assiniboine Credit Union / Caisse Assiniboine would have wider geographic reach, offer French language services, and serve both urban and rural members through a values-based approach to banking.
As co-operatives, every member has a vote on whether to proceed with this merger. “You are the ones who decide where we go next,” Laborero says. The future of our organizations is in your good hands. We are asking you to support this merger for our members, employees, and communities. Vote YES and OUI. It’s imperative.
Details on the voting date and process, as well as additional informational opportunities, will be released in the near future.
Media Contact:
Dean Beleyowski
dbeleyowski@acu.ca
204-290-2899