Integris Credit Union and Coastal Community Credit Union signed a Memorandum of Understanding (MOU) for a potential merger.
In a release from Integris, the MOU is a commitment to thoroughly evaluate the benefits and implications of a merger, ensuring it aligns with the best interest of members, clients, employees, and communities.
It’s believed the merger will expand capabilities, benefiting members and clients by enhancing services, while maintaining local presence.
“This partnership is about looking to the future. By exploring how we can grow together, we’re opening new opportunities to strengthen our resilience and improve the products and services our members rely on. Together, we can do more—for our people, for our members, and for our communities”, said Alexandra Goseltine, Chair of Integris’ Board of Directors.
If the boards of directors of both credit unions agree to pursue a merger, it will be subject to consent from the BC Financial Services Authority, review by the Competition Bureau, and any applicable member votes as may be required under credit union legislation.
More detailed information can be found on the Integris Credit Union’s website here.
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