Making the journey - doing our homework.
The exploration stage of the merger process is complete. All three credit union members have voted in favor to merge effective January 1, 2025.
Concept Exploration
The Board and executive teams of all three credit unions explore possibilities, challenges, what a merged credit union would look like and how it would function. This includes the development of a fair and equal governance model.
Winter 2023
Due Diligence and Business Case
Once the concept has been developed, the credit union teams along with external consultants pressure test the new ideas. We do the math, we kick the tires and we triple check the outcomes. Based on the team’s findings, we create a professional business case for the merger.
Spring 2024
Member Engagement and Feedback
The business case has been approved by each of the Boards. Conversations are taking place with members and employees through "Merger Mondays" virtual info sessions taking place August 19 and 26. This will be everyone’s opportunity to ask questions and find common ground.
Summer 2024
Member Voting
As a cooperative, all members have a say and everyone has a vote. Member voting took place September 4 to September 10. Members from Cypress, Diamond North and Prairie Centre Credit Unions voted in favor of the merger.Â
Sept 4 - Sept 10
Merger Date
January 1, 2025. All three credit unions will maintain their current operations for the remainder of 2024. Throughout 2025 and beyond, work will begin on building an integration approach that will cause the least disruption possible to everyday member banking services.
January 1st, 2025
Integration
Integration will happen over an extended period of time. This will include banking systems, products, and operations. We will design it to cause the least disruption possible to everyday member banking and services.
TBD
