A new banking entity has been tentatively created in Central Alberta.
During a meeting on June 22, members of the Eckville District Savings & Credit Union voted to join forces with Mountain View Credit Union (MVCU).
That followed a vote June 20 during which MVCU members voted unanimously in favour of the proposal.
Subject to regulatory approvals, the two entities will legally amalgamate on Aug.1, this year.
MVCU chair Charlie van Arnam announced the plan to join forces during MVCU's 39th annual general meeting at the Pomeroy Inn & Suites March 21.
Proponents say the new combined credit union will have more resources which can be invested to improve services, technology and competitiveness for members.
“Together we are stronger and we can grow our new credit union together to bring owner-level service across Central Alberta,” says MVCU CEO Bob Marshall.
A credit union news release says there will be “no loss of employment as a result of the merger.”
Marshall will continue as president and CEO. Former Eckville Credit Union general manager Mitch Krecsy will become the new organization's vice-president, strategic initiatives.
The inaugural board of directors will feature directors from the two existing boards.
Richard Anderson will serve as the inaugural chair. Van Arnam will serve as vice-chair.
The new credit union will serve more than 17,000 members with 130 employees in 13 branches throughout Central Alberta. The credit union will have more than $750 million in assets.
"Together we are stronger and we can grow our new credit union together to bring owner-level service across Central Alberta."BOB MARSHALLCEO MOUNTAIN VIEW CREDIT UNION
