It’s official Sunrise and Minnedosa Credit Unions will be merging operations, effective July 1, 2020.

The proposed merger was publicly announced in September, and was confirmed in voting by Minnedosa Credit Union and Sunrise Credit Union members on Tuesday and Wednesday of this week.

The first vote saw 73 Minnedosa Credit Union members vote 100% per cent in favour of the merger, while Sunrise Credit Union members also voted 100% per cent in favour at a special meeting held in Brandon.

“The vote shows the democratic member control that credit unions have,” stated Barry McNabb, chair of the Minnedosa Credit Union Board of Directors, “Member-owners having the final say on important initiatives is one of the mainstays of the co-operative movement. We’re pleased with their decision.”

The amalgamation next year will bring the assets of Sunrise Credit Union to around $1.5 billion.

“It’s a great pleasure to officially welcome Minnedosa Credit Union to the Sunrise family,” added Jan McClelland, chair of Sunrise Credit Union’s Board of Directors, “We are excited to begin working with their members and staff.”

The merger is expected to improve member service through an expanded geographic area, increase and improve product offerings, enhance career opportunities for employees, and drive greater operational efficiencies and cost savings through economies of scale.

“We are happy for our members because this was the right decision,” stated Minnedosa Credit Union General Manager Brad Ross, “This partnership will allow us to serve our communities well in the future, will bring enhanced products and services to our members and create powerful new opportunities for our staff.”

Ross says no changes are planned with day to day operations and he says customers shouldn’t notice any difference when they visit the branch after July 1st, 2020.

“The Board of Directors, management team and staff of both credit unions are pleased with the results, and we’re excited to get to work on getting everything in place for when the amalgamation comes into effect on July 1, 2020,” said Sunrise Credit Union President and CEO Tim Klassen, “We look forward to continuing to provide the high level of personal service that both Sunrise and Minnedosa members have come to expect.”Sunrise CU President and CEO Tim Klassen.

Minnedosa Credit Union GM Brad Ross says creating a larger asset base opens up the opportunity of attracting new customers in the area. “I think there is room for growth because there is this perception that as a smaller credit union we weren’t big enough to handle larger accounts and now that we will be part of the Sunrise banner we will have the scale to look after whatever size of member walks through our door.”

This is the fourth merger in as many years for Sunrise Credit Union, who also merged with Grandview Credit Union on May 1, 2017, Prairie Mountain Credit Union on April 1, 2018 and Strathclair Credit Union on January 1, 2019.

Minnedosa Credit Union manages approximately $135 million in assets, has a membership of close to 4,000, and employs 21 full and part-time staff.

Sunrise Credit Union currently has 27,000 Sunrise members with branches in Baldur, Boissevain, Brandon, Cypress River, Deloraine, Grandview, Hartney, Holland, Laurier, Melita, Oakburn, Reston, Sandy Lake, Shoal Lake, Ste. Rose du lac, Strathclair, Treherne, Virden, Waskada.

Sunrise Credit Union has approximately $1.3 billion in assets and more than 200 employees.