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Minnedosa Credit Union Members Approve Merger


November 6, 2019

For Immediate Release


Minnedosa, Manitoba – Minnedosa Credit Union held a special meeting last night at the Minnedosa Community Conference Centre to vote on the proposed amalgamation with Sunrise Credit Union.

73 members were present at Tuesday’s meeting, with 100% voting in favour of the merger, effective July 1, 2020.

“The vote shows the democratic member control that credit unions have,” stated Barry McNabb, chair of the Minnedosa Credit Union Board of Directors, “Member-owners having the final say on important initiatives is one of the mainstays of the co-operative movement.  We’re pleased with their decision.”

The primary objective of the merger is to improve member service through an expanded geographic area, increase and improve product offerings, enhance career opportunities for employees, and drive greater operational efficiencies and cost savings through economies of scale.

“We are happy for our members because this was the right decision,” stated Minnedosa Credit Union General Manager Brad Ross, “This partnership will allow us to serve our communities well in the future, will bring enhanced products and services to our members and create powerful new opportunities for our staff.”

Tim Klassen, President and CEO of Sunrise Credit Union, was pleased with the results as well, saying “We’re honoured that Minnedosa members voted in favour of joining us.”

Sunrise Credit Union members also need to approve the proposed merger. A special meeting for Sunrise members will be held tonight (November 6th) at Sunrise Credit Union, 2nd Floor, 2305 Victoria Avenue, Brandon, MB. Member registration begins at 5:00 p.m. with the meeting to begin at 5:15 p.m.

About Minnedosa Credit Union

Minnedosa Credit Union Limited received its Charter on July 21, 1947, with its first office being in the boardroom of the Co-op Store (Old Service Centre), until 1956.  March 6, 1975 marked the grand opening of the present building, which has been through two expansions since. Minnedosa Credit Union manages approximately 135 million dollars in assets, has a membership of close to 4,000, and employs 21 full and part-time staff.

About Sunrise Credit Union

Sunrise Credit Union was formed in 2008 through the strategic merger of its five legacy Credit Unions- respectively, Virden (est. 1940), Turtle Mountain (est. 1940), Hartney (est. 1942), Tiger Hills (est. 1943) and Cypress River (est. 1960).  Currently, 30,000 Sunrise members receive personalized service from branches in Baldur, Boissevain, Brandon, Cypress River, Deloraine, Grandview, Hartney, Holland, Laurier, Melita, Oakburn, Reston, Sandy Lake, Shoal Lake, Ste. Rose du lac, Strathclair, Treherne, Virden, Waskada. Sunrise Credit Union has approximately 1.3 billion dollars in assets and more than 200 employees.

 

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