The Voice of Canadian Credit Unions
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Mergers build momentum

Island Savings Credit Union ($1.5 billion in assets, 49,000 members) in Duncan and First West Credit Union ($7.7 billion in assets, 177,000 members), headquartered in Langley, have moved merger talks forward.

Voting will take place in November, with results of the vote  announced on both credit unions’ websites on November 14.

Bay Credit Union ($45 million in assets, 3,400 members) and Apple Community Credit Union ($13 million in assets, 1,580 members), both headquartered in Thunder Bay, Ontario, entered into merger talks in early October. The merger is expected to be completed by May 1, 2015. (For more on credit union amalgamations, read the feature, “The Urge to Merge.” ◊