Ideal Savings (Carpathia Credit Union) Merger Announced | Ideal Savings | Discussion forum

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Ideal Savings (Carpathia Credit Union) Merger Announced
September 27, 2022
6:10 am
dougjp
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I got a Carpathia mini magazine yesterday (for the first time). In it, they announce an upcoming merger with Access Credit Union, said to be Manitoba's largest. They indicated they will inform more details later, and plan to seek membership approval in December.

Rates on HISA and TFSA haven't moved, with 2.6% in TFSA and 1.01% on HISA still? The reverse is true with 1, 2 and 4 year GICs, where TFSA rates are lower than outside TFSA? They are well down the GIC list competitively, except for 4 and 5 year terms.

The badness of a movie is directly proportional to the number of
helicopters in it.

September 27, 2022
3:14 pm
Dean
Valhalla Mountains, British Columbia
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.
WOW ... Access CU is about to absorb Yet another Manitoba CU ❗

I wonder who'll be next.

    Dean

sf-cool " Live Long And Prosper " sf-cool

September 27, 2022
3:36 pm
AltaRed
BC Interior
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October 27, 2013
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Per 2Q2022 https://ccua.com/app/uploads/2022/09/top100-2Q22-20-Sep-22.pdf it is not illogical any one lower than the top 50 CUs in assets might be looking to hook up with a bigger CU for economies of scale. Per the link, within the top 100

Regional representation on the list is as follows: B.C., 26; Alberta, 8; Saskatchewan, 12; Manitoba, 16; Ontario, 30; New Brunswick, 3; Nova Scotia, 2; P.E.I, 1 and Newfoundland, 2

little old MB relative to other provinces still has a lot of CUs per capita (ignoring the 112 little ones below the top 100 that have less than 5% of total CU assets).

September 28, 2022
11:30 am
Norman1
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Access CU and Carpathia CU are in merger discussions. No agreement has been reached yet.

According to their timeline, the business case for the proposed merger won't be ready until October 18.

September 28, 2022
1:09 pm
Winnie
Ontario
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Access Credit Union is in active discussions with Amaranth, Casera, and Carpathia Credit Unions about the possibility of joining Access Credit Union.

Please write your comments in the forum.