Conexus Credit Union concludes merger with Cornerstone, Synergy

Conexus Credit Union had concluded its merger with Synergy and Cornerstone, creating a 57-branch network serving 50 Saskatchewan communities.

Conexus Credit Union has officially merged with Cornerstone Credit Union and Synergy Credit Union, forming a new entity with 57 locations in 50 communities across Saskatchewan.

The merged credit union keeps the Conexus name and now serves about 200,000 members, representing roughly 40 per cent of the province’s credit union assets, with $16 billion under management.

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Bringing together three credit unions and their systems is a complex process, but CEO Celina Philpot has said the transition will be smooth.

“Time is something we’re going to have to keep in mind, but not at the risk of creating an environment where it’s not smooth,” Philpot said. “We have done this before. Conexus is a culmination of many mergers from the past, so we have experience bringing systems together.”

The merger is expected to take 18 months to complete the rebranding of the new financial institution.

A full breakdown of the merger can be found here.