AcceleRate Financial owner Crosstown Civic Credit Union talking amalgamation of relative equals with Access Credit Union | AcceleRate Financial | Discussion forum

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AcceleRate Financial owner Crosstown Civic Credit Union talking amalgamation of relative equals with Access Credit Union
November 28, 2019
2:31 pm
Doug
British Columbia, Canada
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Story link: https://pembinavalleyonline.com/local/new-merger-talks-announced-at-access-credit-union

Second story link with commentary: https://pembinavalleyonline.com/local/acu-merger-would-meld-credit-unions-with-common-heritage-values

Discussions are advancing, and the two credit unions appear ready to submit the merger proposal to Manitoba credit union regulators in the coming months, with member votes occurring in spring 2020 (likely in March or April 2020, in tandem with their AGMs). Since the two recently completed banking system migrations, full technology, system, and brand integration could occur relatively quickly, possibly by July 2020.

If consummated, the pair would likely surpass Steinbach Credit Union as the largest Manitoba credit union by assets at the end of 2020 and certainly by 2021.

Both Access and Crosstown Civic credit unions accept non-Manitoba residents, one directly, and the latter through AcceleRate Financial. Will AcceleRate Financial remain, or stop accepting new members? If it remains, will it be rebranded as "a division of Access Credit Union" (as Access Credit Union seems the likely surviving name?

Cheers,
Doug

November 28, 2019
6:52 pm
Bud
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Access offered a pretty good rate as did Accelerate earlier. How about a pre-deal special

GIC King

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