Access Credit Union spurns merger

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This article was published 21/04/2015 (3290 days ago), so information in it may no longer be current.

Manitoba’s second largest credit union was left at the altar Wednesday.

Access Credit Union members surprisingly chose to part ways with Assinboine Credit Union before their relationship even began. The membership vote prevents a merger that would have made the two entities the province’s largest credit union, dethroning Steinbach Credit Union.

Access members voted 63 percent in favour of a merger at their annual general meeting, which is less than the two-thirds majority required.

Earlier in the evening Assinboine members approved the marriage with 95 percent support.

Merger talks may be revisited if Access Credit Union members petition for a special meeting.

The new entity would have been the sixth-largest credit union in the country, boasting 38 branches, more than 154,800 members and $5.7 billion in assets. The proposed merger was announced in February.

Access Credit Union has branches in Grunthal, Vita, Sprague, Morris, Dominion City and Emerson.