August 28, 2013
December 23, 2011
August 4, 2010
Assiniboine is twice as large ($3.6 billion in assets) as Access and is probably driving this. Outlook is Assiniboine's online arm. Access is, I think, mainly in small Manitoba towns, and this probably gives them a hookup with a larger organization rather than try and build yet another set of Winnipeg branches.
This will make Assiniboine the largest ($5.4+ billion in assets) Manitoba CU, passing Steinbach ($4.2 billion). I doubt Access was in any difficulty, aside from maybe having tough growth prospects.
December 3, 2014
December 12, 2009
This isn't a corporate takeover in the traditional sense but rather a true "merger of equals" as the two credit unions are legally amalgamated into one entity. As Assiniboine has the larger deposit/asset and membership bases, they are definitely the ones calling the shots in terms of structure (i.e., resulting name and number & composition of the Board of Directors). I suspect the reason the "Access" branding was chosen is because Assiniboine wanted a name that was more generic and not geographic-specific and they thought they'd use the existing name "Access" in the amalgamated entity rather than think of a totally new name. I suspect that's what at play here.
Mergers are a great opportunity for name changes and rebranding.
Is it a great name? No, it's kind of "ho hum". They could've called themselves Outlook Financial Credit Union and simply renamed the direct banking operation the "Direct Bank Branch" of "Outlook Financial Credit Union". Alas, I digress.