ASSINIBOINE, Manitoba–Two large Canadian credit unions whose previous attempt to merge came up some 25 member votes short, are going to try again.
Access Credit Union and Assiniboine Credit Union said they will put a merger to a vote in September. If successful, it would create the biggest credit union in the province and sixth largest in Canada, with 155,000 total members.
In the initial vote 95% of Assiniboine members approved the deal, while Access members didn’t meet the required 66.77% support of its membership to proceed—had it received just 25 more affirmative votes, the merger would have been approved.
One Access CU member told local media following the initial vote that he and others voted against the merger because of the support Assiniboine Credit Union gives to Pride Winnipeg and the Rainbow Resource Centre. Access CU’s management reported that the issue was never raised during the membership meeting at which the vote took place, which was held inside a church.