Sunrise Credit Union and Grandview Credit Union are pleased to announce they have entered into discussions and commenced due diligence activities with the intention to amalgamate during the early second quarter of 2017.
Grandview Credit Union Interim General Manager, Dale Scott said in a statement “As you can imagine, merging with another credit union is a huge decision. Business philosophies, plans for future growth and similar values brought our board to the conclusion, after much discussion with other credit unions and scenarios, that Sunrise was best suited for our members and community.”
Because a merger with Grandview Credit Union would account for less than a 10% increase in assets, the merger can be approved by the Sunrise Credit Union Board of Directors without a full membership vote.
Grandview Credit Union members, however, will have the opportunity to vote at a special meeting being held in Grandview on February 28, 2017.
“Sunrise was formed by the joining together of like-minded credit unions. Staying true to these roots, we warmly welcome Grandview Credit Union members and staff to the Sunrise family. Building a larger and stronger credit union together will result in increased opportunities for staff and should enable increased products for members,” stated Tim Klassen, President/CEO of Sunrise Credit Union.
Grandview will mark the 15th community served by Sunrise Credit Union. Grandview contributes approximately $72 million of assets to the organization bringing the amalgamated total assets close to $1 billion serving approximately 24,000 members. Both Grandview and Sunrise Credit Unions are member owned community focused organizations dedicated to providing personalized competitive financial services for the benefit of members and communities. It is these foundational and co-operative philosophies that bring these two like-minded Credit Unions together.
All Grandview and Sunrise jobs will remain safe from cuts and an expanded range of development opportunities will be available to staff due to the larger organization.
About Sunrise Credit Union
Sunrise Credit Union was formed in 2008 through the strategic merger of its five legacy Credit Unions- respectively, Virden (est. 1940), Turtle Mountain (est. 1940), Hartney (est. 1942), Tiger Hills (est. 1943) and Cypress River (est. 1960) – to provide personalized competitive financial services to benefit its members and communities. For more information, please visit sunrisecu.mb.ca.
About Grandview Credit Union
Established in 1942, Grandview Credit Union strives to be a leader in the progression and growth of its communities with a purpose to improve members’ lives.