Casera Credit Union is pleased to announce that its members approved a recommendation by the Board of Directors to merge with Access Credit Union. Voting took place between November 10 and 15, 2022, and the results were announced last night at a virtual special meeting of members.
The membership vote followed the completion of due diligence and a subsequent recommendation to merge from the Boards of both organizations. The favourable vote means that the two credit unions will unite under the Access Credit Union name and brand on July 1, 2023.
According to government regulations, Casera required a majority of two-thirds of votes cast to allow the merger to go forward. Access members were not required to vote since Casera represents less than 10 percent of Access’ total assets.
“We’re pleased that our members accepted the Board’s recommendation,” said Robert Riddell, Casera’s Board Chair. “Throughout the merger process, our goal was to deliver a proposal advantageous to our members, employees, and communities.”
Becoming operationally larger will help secure a financially stronger future for the merged credit union. The new entity will also continue delivering local, personalized financial services to individuals and businesses.
“We are excited for our future with so much in common. Working together, we will be able to offer more than just products, services, locations, and continued great rates. It is confirmation of our commitment to continue serving our members and communities with excellence,” said Access Credit Union Board Chair, Kevin Beresford.
Under the Access banner, the credit union will have more than $10 billion in assets, over 168,000 members, more than 900 employees, and 56 branch locations. The organization is well-positioned to operate effectively in today’s competitive marketplace and offer a flexible patronage program to reward members for their loyalty.
About Access Credit Union
Access Credit Union was incorporated in 2009. In 2021, Access Credit Union merged with Crosstown Civic Credit Union and later in 2022, merged with Noventis and Sunova Credit Unions to become the largest credit union in Manitoba. Today, Access Credit Union remains a financial institution that puts its members first. For more information about Access Credit Union, visit www.accesscu.ca.
About Casera Credit Union
Casera Credit Union was incorporated in 1951 as the employee credit union of the CNR Transcona Shops.. For over 70 years, Casera has promised to help families prosper, businesses succeed, and communities thrive. For more information about Casera, visit www.caseracu.ca.