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An important message for all members: we’re getting stronger by coming together
Assiniboine Credit Union is joining with Entegra Credit Union in a proposed merger that will create a stronger, more effective credit union for every member.
Voting open from July 22, 2021 until 7:30 p.m. on August 18, 2021
A virtual Special Meeting of Members has been convened for August 18, 2021 for members to hear the motion and voting on the proposed merger will close at 7:30 p.m. during the meeting.
Upon a successful vote, the two credit unions will formally merge on January 1, 2022 to form a new entity which will retain the Assiniboine Credit Union name. A virtual member information meeting will be held on August 4, 2021 at 10 a.m. More details of the meeting will be shared as soon as they are available.
Members will be sent voting credentials via email along with information on the Special Resolution and on the virtual Special Meeting of Members. Any members who have not provided an email to us can contact the Member Communication Centre or any branch to ask about how they can vote. They will be sent voting credentials when they provide ACU with an email address.
Support the future of your credit union by voting.
All eligible voting members will be assigned two unique identifiers to enter into the online voting system in order to be verified and vote. Members will also use these voting credentials to register to attend the virtual Special Meeting of Members, to be held virtually on August 18, 2021 at 7:00 p.m.Members will be sent voting credentials via email along with information on the Special Resolution and on the virtual Special Meeting of Members. Any members who have not provided an email to us can contact the Member Communication Centre or any branch to ask about how they can vote. They will be sent voting credentials when they provide ACU with an email address.
Why merge?
The fit between Assiniboine and Entegra is natural as we share many common values. Both organizations are strong, ethical companies committed to serving our members and improving the quality of life in our communities. The merger allows us to build on this foundation creating an even stronger future together. Faced with a financial services industry that is extremely competitive and continually changing, the Boards of Entegra and Assiniboine chose to take this bold step for many reasons:
It’s good for our future.
The financial services industry is rapidly evolving. Our members who have come to expect personalized service and 24-7 banking access from anywhere are demanding more from us every day. We know that by bringing the resources of Assiniboine and Entegra together we will be better able to meet ever-changing member needs, while at the same time building a financially sustainable organization.
It’s good for our members.
Our members will enjoy the expertise and knowledge of our combined employee base, enhanced technological solutions, more innovative products and greater efficiencies.
It’s good for our future.
The financial services industry is rapidly evolving. Our members who have come to expect personalized service and 24-7 banking access from anywhere are demanding more from us every day. We know that by bringing the resources of Assiniboine and Entegra together we will be better able to meet ever-changing member needs, while at the same time building a financially sustainable organization.
It’s good for our members.
Our members will enjoy the expertise and knowledge of our combined employee base, enhanced technological solutions, more innovative products and greater efficiencies.
It’s good for our employees.
As a larger organization, employees will have new career advancement opportunities and exposure to different specialized sectors, providing them with a broader range of career opportunities.
As a larger organization, employees will have new career advancement opportunities and exposure to different specialized sectors, providing them with a broader range of career opportunities.
It’s good for our communities.
Both Assiniboine and Entegra are known for their community-building. Together we’ll be able to broaden our impact. We’ll continue to advocate for local members and issues, services will be seamless across our branch network, and decision-making will continue to remain local and member-centric.
Both Assiniboine and Entegra are known for their community-building. Together we’ll be able to broaden our impact. We’ll continue to advocate for local members and issues, services will be seamless across our branch network, and decision-making will continue to remain local and member-centric.
Merger timeline
The key merger milestones are:
- A formal merger agreement was signed on June 24, 2021
- A public announcement was made on June 29, 2021
- Online voting opens on July 22, 2021
- A virtual member information meeting will be held on August 4, 2021 at 10 a.m.
- A virtual Special Meeting of Members has been convened for August 18, 2021 at 7:00 p.m. for members to hear the motion and voting on the proposed merger will close at 7:30 p.m. during the meeting
- Voting closes at 7:30 p.m. during the Special Meeting of Members on August 18, 2021
- With a positive vote from members, the merger will take effect January 1, 2022
Questions and answers
We’re committed to communicating openly and regularly with you through a variety of methods that will allow for clear, two-way communication. Here are some of the more frequent questions we’ve already been asked.
- Why is Entegra Credit Union a good merger partner for Assiniboine Credit Union?
We have many common values when it comes to members, people and community, this proposed merger between Assiniboine and Entegra supports a strong, bright and healthy future and will allow us to extend our shared purpose, to provide financial services for the benefit of all. - Why have you chosen Assiniboine as the name?
Both Assiniboine and Entegra are well respected organizations. After thoughtful evaluation and deliberation, the Assiniboine Credit Union name was selected to leverage the strong brand in the Manitoba market. - What will happen to my branch?
No branches will be immediately closed as a result of the merger. We will need to take time to evaluate our combined branch network as we want to ensure that we continue to be easy to do business with and are meeting the needs of you, our members. Commitment to the communities that we serve is, and will continue to be, central to our mission. - When can I use the expanded branch network?
You will continue to have access to all credit union ATMs as you have always enjoyed. Prior to January 1, 2022, members can continue to visit the branch network provided by their current credit union. We are working to determine the date members will be able to have access to the expanded branch network throughout the cities of Winnipeg, Thompson and Gillam. We anticipate this date will be prior to the middle of 2022. - Will my branch hours of business change?
Our philosophy regarding branch hours will not change from what it has always been. Branch hours are determined by members’ demand for branch services. - Will my account numbers stay the same? When do I have to order cheques? Will my debit card and Visa still work? Can I use digital banking?
While there are several options to consider this process will be one of many aspects of the merger implementation in 2022. Until we advise you of something different, it will remain business as usual. - Where will corporate office, administration and support departments be located?
One corporate office location will be designated for the new entity. In regard to administration and support departments, representatives from the two organizations will work together to determine the best strategy going forward. - What will be the makeup of the board?
The new Board of 10 will be comprised of 8 members from the current Assiniboine Board, two from the current Entegra Board. The remaining current board members will retire from their respective boards prior to the merger effective date of January 1, 2022. - Who will be the CEO?
Kevin Sitka of Assiniboine Credit Union will become President and CEO of the new credit union. Brent Turman, current CEO of Entegra Credit Union will become Chief Operations and Strategic Initiatives Officer. - How will employees be impacted?
Consistent with our shared values, we easily agreed that there would be no layoffs as a direct result of the merger. All employees will be offered a position in the new credit union and will continue to work in an environment where they can learn, grow and build a long and successful career. - Will I still have a say in my credit union?
Yes. The co-operative principle of “one member, one vote” will still apply, so all members have an equal say in voting to merge the credit unions. - What will happen with online banking?
Both credit unions use the same online banking system so impacts to you will be kept to a minimum. - What will happen to my products and services?
As the merger implementation moves ahead in 2022, we will review existing products and services and select the most appropriate product and service offerings for the combined membership. We also look forward to being able to expand our product offerings as our capacity builds because of our merger. - Will all my deposits still be insured?
Absolutely! All deposits and interest in Manitoba Credit Unions are guaranteed 100% by the Deposit Guarantee Corporation of Manitoba. - What will happen to the community programs that both credit unions are currently involved in?
Both organizations are committed to a set of co-operative principles focusing on community development initiatives and share a commitment to social responsibility. We believe there will be opportunity to expand the good work currently being done by the two credit unions by extending the reach of existing programs. As always, we will continue to look for new ways to support the communities we serve. - How often will you be communicating merger activities to members?
Once we have membership approval, the legal entity will take effect January 1, 2022. Bringing two organizations together will take longer than a few months. We know communication of merger activities is critical for member peace of mind and the success of the merger. With that in mind, merger communications will occur frequently and use a number of communication tools including: email, social media, website, and in-branch messaging.
Further information
Member engagement in the merger process is very important. Here are some ways we can exchange information and ideas:
- Read our media release for more information here
- We’ll post regular updates on the websites acu.ca and entegra.ca
- We’ll provide information in all our branches
- You can speak with one of our ACU Member Communication Centre Service Delivery Advisors at 204.958.8588 or toll free at 1.877.958.8588
- You can email the CEO directly at: merger@acu.ca
- Member questions will be posted to our websites so all members can share in the information
We’re getting stronger by coming together.
Winnipeg, MB - Friday | July 9, 02:00 PM