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Dear valued members,
As the Board Chair of your credit union, I’m excited to share with you that Conexus, Cornerstone, and Synergy Credit Unions are formally recommending a merger to our members!
Since November, we have been exploring whether combining our credit unions could bring greater value to you. After thorough due diligence, our boards unanimously approved a business case with one clear priority—you, our members. We have confirmed that a merger will allow us to make the necessary investments to remain strong, competitive and committed to meeting the needs of members both today and for years to come.
The world is changing. Like many industries, financial services face rising costs, new and intensifying competition, economic volatility, and increasing regulatory demands. By coming together, we can navigate these challenges while continuing to offer the service, innovation, and local decision-making you expect. With $15 billion in assets under management, this merger will build on the success of our three credit unions, creating a stronger, more resilient financial institution while also staying true to our shared values.
Pending member approval of this merger, here is what this will mean for you:
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Modern digital banking experience. We will prioritize investment in our digital banking, adding new functionality to deliver an experience that is easy, secure, and offers convenient access.
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Branch network. Our combined network has no overlap, allowing us to be sustainable without closing locations as part of this merger. We will serve Saskatchewan with 57 branch locations in 50 communities - giving you more ways to bank where, when, and how you want.
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Competitive with low to no-fee options. We will offer low to no-fee options that are accessible to all while still offering competitive rates and fees.
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Profit-sharing with our members. We will share our profits through a modern rewards program - putting money back in our members’ pockets.
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Local service and local decision-making. Your trusted advisors remain local—local people, serving local members. Decision-making will remain rooted in the communities we serve.
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Enhanced lending capacity. We will have increased financial capacity so as your farm or business grows, we will grow with you!
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Specialized expertise. We will expand access to specialized expertise like wealth management, estate service and management, and mobile mortgage specialists.
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Personalized service and modern offerings to meet diverse needs. Our team will be empowered with the required technology and insights to provide proactive, needs-based advice and solutions tailored to your financial goals.
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Our profits stay local. Our profits stay local, with 5% of pre-tax earnings reinvested into our local communities further strengthening Saskatchewan. We remain committed to making a positive impact through sponsorships, volunteering and community support.
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Committed to employees.The merger will create new opportunities for current and future employees. We’re committed to retain engaged team members, invest in career development, explore new growth potential, and be a top employer in Saskatchewan.
The future of your credit union is in your hands! We are asking for your support in moving forward with this merger. A member vote is expected this June, and your participation will help shape the future of your credit union. Over the next few months, we’ll keep you informed, provide opportunities to learn about the benefits, ask questions, and understand why this recommendation matters. Look for more details in early May!
Thank you for your continued trust and support. We are proud to recommend this merger as the best path forward—one that strengthens our ability to serve you and our communities for years to come. Let’s move forward as one—Together for a Thriving Saskatchewan!
Sincerely,
C. Neil Carruthers, Board Chair
For more details on these benefits and why we’re recommending the merger, visit any of our branches or our shared website www.thrivingtogethersk.ca.