Three credit unions – Affinity Credit Union, Advantage CreditUnion and Spectra Credit Union – from the prairie province ofSaskatchewan in Canada said they are proposing to merge byJuly.

The merged credit union would operate under the name AffinityCredit Union, already one of the 10 largest credit unions inCanada.

“We are a good match in all respects,” said Scott Flavel, boardpresident of the $2.9 billion Affinity CU. “We each have a strongcommitment to enhancing service for members and look forward tocombining the expertise, knowledge and experience of our teams ofstaff, which is our most valuable resource in meeting thatneed.”

Headquartered in Saskatoon, Affinity CU operates 40 branches andserves more than 99,000 members. The $935 million Spectra CU inEstevan said it serves over 22,000 members and non-members withbranches in 10 communities. The $571 million Advantage CU inMelfort serves more than 20,000 members and clients and operates abranch network in 17 communities.

“This merger provides for growth and further diversification inboth the rural and urban markets. It will also provide additionalresources in serving our members,” said Wayne Amos, president/CEOof Spectra CU.

“We are excited about the possibilities to enhance our businessand to better serve our members,” added Milton Kerpan, president ofAdvantage CU board of directors. “We also look forward tocontinuing a strong grass roots connection to our communities and acommitment to traditional credit union values.”

Should all three credit unions receive member approval, themerged credit union would manage $4.5 billion in assets and servemore than 140,000 members from 76 branches in 68 communities acrossSaskatchewan.

A vote by Affinity CU members will be held on April 3 followedby Advantage CU members on April 4 and Spectra CU members on April8, the credit unions said.