By paNOW Staff

Credit union members approve merger

Apr 9, 2013 | 3:59 PM

As of July 1, Advantage, Spectra and Affinity Credit Unions will fly under a single banner.

A merger between the three financial institutions is moving ahead after members voted overwhelmingly in favour of the partnership at their respective general meetings held this month.

For the merger to move forward, 75 per cent support was required from each membership and they got that and more.

Advantage members were 93 per cent in favour — Spectra members approved it with a 94 per cent margin and Affinity, the largest of the three credit unions, received 97 per cent support.

“We are well-matched,” said Scott Flavel, board director president of Affinity Credit Union in a release.

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“We each have a strong commitment to member service excellence and look forward to combining the expertise, knowledge and experience of our staff.”

Affinity Credit Union will become the second largest credit union in the province next to Conexus.
It will have 76 branches in 68 communities with assets exceeding $4.5 billion.

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