Catalyst Credit Union andVanguard Credit Union are seeking approval from their members to approve a merger of their businesses.
The vote will take place on November 21st with hopes of making the merger complete by the 1st of April next year.
Chair of the Vanguard Credit Union Board of Directors Guy Huberdeau says “Credit unions aren’t immune to the realities of the environment in which all financial institutions operate. Change is being driven by technology, the economy, regulation and competition – and we need to change to continue to meet the evolving needs of our members.”
The amalgamated credit union would have 29,000 members, over $1-billion in assets under administration, 180 employees, and 18 branches serving over 40 communities throughout Western Manitoba.
