Several Sask. Credit Unions considering merger
CTV
Three Credit Unions in Saskatchewan are exploring a potential merger – with work on the transition beginning as early as next year.
Regina’s Conexus Credit Union is considering a merger with Credit Unions based in Yorkton and Lloydminster.
It’s a move they say will benefit customers. Currently there are 32 Credit Unions across Saskatchewan.
The merger would bring together Conexus Credit Union, Cornerstone Credit Union and Synergy Credit Union.
“So today, Conexus serves our members well from north to south but adding our two partners will cover the west and the east side of the province so members will automatically have access to a branch network that covers the entire province and that's 57 branches strong,” Conexus Credit Union CEO Celina Philpot said.
Merger talks are currently at the exploratory stage and all three credit unions are said to be in a strong financial position, further ensuring a merger would create more viability.
“There continues to be competitive pressures in the financial industry, all kinds of new entrants, regulatory pressure that is increasing so in order for us to be sustainable in the long term, we have to get together,” Conexus Credit Union board chair Ken Kosolofski said.
Being part of a larger banking network can have a downside for communities, though. In 2019, Conexus closed nine branches mostly in small towns such as Mossbank as customers continue to switch to online banking.
Seven teenage suspects, including a 13-year-old, have been arrested following a targeted and “violent” home invasion in Vaughan on Friday, police say.
Ontario's colleges and universities say the federal government's cap on international students is taking a toll on the higher education sector as some schools face growing deficits, layoffs and, in at least one case, a temporary campus closure.
The Empress Theatre, a nearly century-old landmark in Montreal's Notre-Dame-de-Grâce (NDG) neighbourhood, may soon be revitalized.
Business owners say they've been left with questions about how a temporary tax exemption to the GST will work after the federal government announcement the policy last week.
British Columbia's electric utility says it has restored power to almost all customers who suffered outages during the bomb cyclone earlier this week, but strong wind from a new storm has made repairs difficult in some areas.
Many parts of Saskatchewan will be hit with another round of wintery weather on Saturday, and Regina is no exception, with up to 25 centimetres of snow expected to accumulate.
Some local businesses say the federal government’s recent plan to pull back GST on several items is a positive initiative, but it should have been rolled out earlier in the holiday season.
An 81-year-old man who went missing Friday has been found dead, Spruce Plains RCMP said.
A black bear has died following a brawl with a man on a trail in Maple Ridge.
Taykwa Tagamou Nation, a Cree First Nation located within Treaty 9, has filed a statement of claim against the Province of Ontario and Newmont, a mining company that owns properties in Timmins.
Two people have been airlifted to hospital following a serious collision in Norfolk County.