Vast majority of members from 3 Sask. credit unions vote to merge

WATCH: The vast majority of members from three Saskatchewan credit unions have voted in favour of a merger.

The vast majority of members from three Saskatchewan credit unions have voted in favour of a merger.

More than 87 per cent of members of Conexus Credit Union in Regina, 86.5 per cent of Cornerstone Credit Union members in Yorkton and 88.7 per cent of Synergy Credit Union members in Lloydminster voted in favour of a merger.

A successful vote required at least 75 per cent approval from members that cast a vote from each credit union.

The three credit unions will officially merge Jan. 1, 2026, forming a new province-wide institution.

A joint news release from the three partners says the new Credit Union will be governed by an inaugural board that will include 12 directors comprised of six directors from Conexus and three each from Cornerstone and Synergy.

“The overwhelming member support confirms the shared vision and commitment to building a stronger, more resilient credit union that remains member-focused and dedicated to thriving in Saskatchewan,” the release said.

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The credit unions feel that a merger will better prepare them to meet future investment needs, access specialized expertise and navigate regulatory challenges while continuing to “offer the service, innovation and local decision-making members expect.”

Required legal and regulatory processes will be finalized in the coming months. A CEO and credit union name is also expected to be announced during that period.

“The CEO and credit union name will be selected from one of the three existing credit unions before we officially become one,” the release said.

Progress on the merger can be seen here.