Members Approve Mega Canadian CU Merger
TORONTO, Ontario and VANCOUVER, British Columbia -- Credit unions voted June 22 at special general meetings here to merge Credit Union Central of Ontario Limited and Credit Union Central of British Columbia to create Central 1 Credit Union.
Nearly 99% of Ontario credit unions and 98.2% of British Columbia's CUs voted in favor of the merger, according to Ontario Central and B.C. Central. The newly-combined CU will have $7.4 billion in assets and represent more than 200 CUs that serve 2.7 million members.