MEDICINE HAT, Alberta, Canada - Two credit unions in central and southern Alberta, Canada have approved a merger that will create the second-largest credit union in the province. Parkland Savings Ltd., Red Deer is joining Community Credit Union Ltd. of Medicine Hat to form the new Community Credit Union Ltd. The new credit union will have approximately $1 billion in assets and serve 75,000 members in 21 branches. The largest credit union in the province is Edmonton's Capital City Savings and Credit Union Ltd., with $1.2 billion in assets. The merger is expected to be finalized by Nov. 1. Credit union officials said the new credit union intends to pursue mergers with other credit unions to expand their network of credit unions in communities throughout rural Alberta. There are currently 75 credit unions in Alberta serving 470,000 members with assets totaling $5.7 billion.
CUs in Canada merge, form Alberta's second-largest CU
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