Assiniboine Credit Union is joining with Entegra Credit Union

 Assiniboine Credit Union is joining with Entegra Credit Union in merger that will create a stronger, more effective credit union for every member.
Results were announced after a Special Members Meeting held August 18, 2021.

The two credit unions will formally merge on January 1, 2022 and will retain the Assiniboine Credit Union name.
ACU thanks all our members who exercised their democratic right as part of a co-operative organization by casting their vote and investing in the future of your credit union.

Why are we merging?

The fit between Assiniboine and Entegra is natural as we share many common values.  Both organizations are strong, ethical companies committed to serving our members and improving the quality of life in our communities.  The merger allows us to build on this foundation, creating an even stronger future together.  Faced with a financial services industry that is extremely competitive and continually changing, the Boards of Entegra and Assiniboine chose to take this bold step for many reasons:

It’s good for our future.
The financial services industry is rapidly evolving. Our members who have come to expect personalized service and 24-7 banking access from anywhere are demanding more from us every day. We know that by bringing the resources of Assiniboine and Entegra together we will be better able to meet ever-changing member needs, while at the same time building a financially sustainable organization.

It’s good for our members.
Our members will enjoy the expertise and knowledge of our combined employee base, enhanced technological solutions, more innovative products and greater efficiencies.


It’s good for our employees.
As a larger organization, employees will have new career advancement opportunities and exposure to different specialized sectors, providing them with a broader range of career opportunities.


It’s good for our communities.
Both Assiniboine and Entegra are known for their community-building. Together we’ll be able to broaden our impact. We’ll continue to advocate for local members and issues, services will be seamless across our branch network, and decision-making will continue to remain local and member-centric.


Merger timeline

The key merger milestones are:

• A formal merger agreement was signed on June 24, 2021
• A public announcement of the proposed merger was made on June 29, 2021
• Online voting opened on July 22, 2021
• Approval from members was gained at a Special Meeting of Members on August 18, 2021
• The merger will take effect January 1, 2022

Questions and answers

We’re committed to communicating openly and regularly with you through a variety of methods that will allow for clear, two-way communication. Here are some of the more frequent questions we’ve already been asked.

1. Who initiated this merger and is it a takeover?

We are seeing a great deal of change in the financial services industry driving consolidation among credit unions across the country to foster sustainable growth. When companies of different sizes merge, it can have the appearance of a takeover by the larger organization. But in this case, it is a true merger. The boards and CEOs of both organizations were actively reviewing options to position their respective credit unions for a stronger future when merger discussions began. Our shared values played a major role when the opportunity to amalgamate presented itself. Each credit union is coming into this merger from a position of strength and we want to assure members and employees that we will be conducting our merger activities in a way that respects both partners, and values the contributions each brings to the entity.

2. Why have you chosen Assiniboine as the name
Both Assiniboine and Entegra are well respected organizations. After thoughtful evaluation and deliberation, the Assiniboine Credit Union name was selected to leverage the strong brand in the Manitoba market.

3. What will happen to my branch?

No branches will be immediately closed as a result of the merger. We will need to take time to evaluate our combined branch network as we want to ensure that we continue to be easy to do business with and are meeting the needs of you, our members. Commitment to the communities that we serve is, and will continue to be, central to our mission.

4. When can I use the expanded branch network?

You will continue to have access to all credit union ATMs as you have always enjoyed. Prior to January 1, 2022, members can continue to visit the branch network provided by their current credit union. We are working to determine the date members will be able to have access to the expanded branch network throughout the cities of Winnipeg, Thompson and Gillam. We anticipate this date will be prior to the middle of 2022.

5. Will my branch hours of business change?

Our philosophy regarding branch hours will not change from what it has always been.  Branch hours are determined by members’ demand for branch services.

6. Will my account numbers stay the same? When do I have to order cheques? Will my debit card and Visa still work? Can I use digital banking?

While there are several options to consider this process will be one of many aspects of the merger implementation in 2022. Until we advise you of something different, it will remain business as usual.

7. Where will head office, administration and support departments be located?

One head office location will be designated for the new entity. In regard to administration and support departments, representatives from the two organizations will work together to determine the best strategy going forward.

8. What will be the makeup of the board?

The new Board of 10 will be comprised of 8 members from the current Assiniboine Board, 2 from the current Entegra Board.

9. Who will be the CEO?

Kevin Sitka of Assiniboine Credit Union will become President and CEO of the new credit union. Brent Turman, current CEO of Entegra Credit Union will become Chief Operations and Strategic Initiatives Officer.

10. How will employees be impacted?

Consistent with our shared values, we easily agreed that there would be no layoffs as a direct result of the merger. All employees will be offered a position in the new credit union and will continue to work in an environment where they can learn, grow and build a long and successful career.

11. Will I still have a say in my credit union?

Yes. The co-operative principle of “one member, one vote” will still apply, so all members have an equal say in voting to merge the credit unions.

12. What will happen with online banking?

Both credit unions use the same online banking system so impacts to you will be kept to a minimum.

13. What will happen to my products and services?

As the merger implementation moves ahead in 2022, we will review existing products and services and select the most appropriate product and service offerings for the combined membership. We also look forward to being able to expand our product offerings as our capacity builds because of our merger.

14. Will all my deposits still be insured?

Absolutely! All deposits and interest in Manitoba Credit Unions are guaranteed 100% by the Deposit Guarantee Corporation of Manitoba.

15. What will happen to my surplus and preference shares?

Your shares will remain under your name in the credit union. Your current surplus and preference shares will simply be converted into shares in the credit union. More information will be provided as we work out the details. 

16. What will happen to the community programs that both credit unions are currently involved in?

Both organizations are committed to a set of co-operative principles focusing on community development initiatives and share a commitment to social responsibility. We believe there will be opportunity to expand the good work currently being done by the two credit unions by extending the reach of existing programs. As always, we will continue to look for new ways to support the communities we serve.

17. How often will you be communicating merger activities to members?

Once we have membership approval, the legal entity will take effect January 1, 2022. Bringing two organizations together will take longer than a few months. We know communication of merger activities is critical for member peace of mind and the success of the merger. With that in mind, merger communications will occur frequently and use a number of communication tools including: email, social media, website, and in-branch messaging.                                                                                                                         

Member questions will be posted to our websites so all members can share in the information

We’re getting stronger by coming together.






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