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Merger of Sunrise & Minnedosa Credit Unions Moves Forward

November 7, 2019

For Immediate Release

Brandon, Manitoba – Sunrise and Minnedosa Credit Unions will be merging operations, effective July 1, 2020.

The proposed merger was publicly announced in September, and was confirmed in voting by Minnedosa Credit Union and Sunrise Credit Union members earlier this week.

On Tuesday, Minnedosa Credit Union members voted 100% per cent in favour of the merger, while Sunrise Credit Union members also voted 100% per cent in favour at a special meeting on Wednesday night.

“Attaining 100% consensus on both sides is very satisfying.  It shows a strong alignment in vision and values,” said Brad Ross, General Manager of Minnedosa Credit Union.

“It’s a great pleasure to officially welcome Minnedosa Credit Union to the Sunrise family,” added Jan McClelland, chair of Sunrise Credit Union’s Board of Directors, “We are excited to begin working with their members and staff.”

The merger is expected 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.

“The Board of Directors, management team and staff of both credit unions are pleased with the results, and we’re excited to get to work on getting everything in place for when the amalgamation comes into effect on July 1, 2020,” said Sunrise Credit Union President and CEO Tim Klassen, “We look forward to continuing to provide the high level of personal service that both Sunrise and Minnedosa members have come to expect.”

This is the fourth merger in as many years for Sunrise Credit Union, who also merged with Grandview Credit Union on May 1, 2017, Prairie Mountain Credit Union (PMCU) on April 1, 2018 and Strathclair Credit Union on January 1, 2019.

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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