Simply the Best Credit Union for you!

To ensure long-term financial strength. Each credit union is a strong, independent organization, and we believe that coming together in a partnership ensures our members continue to have access to the best products and services in the major cities as well as in the rural communities. We’ve approached this partnership as the right thing to do for all our stakeholders: Members, Communities, and our Employees.

Both Affinity and FirstSask Credit Union have strong credit union values and a sincere commitment to the communities we serve. The credit unions have unique community experiences and strengths. Together we would be even stronger.
A partnership will position us to operate more efficiently and to be more effective in an increasingly competitive market. We will offer a wider variety of services to more members, and have better access to research, development and technological support.

Over the past few months, the Nokomis Board have seriously considered a partnership with Affinity culminating in a decision, to seek approval from their members for a merger with Affinity. The Board of Directors of Affinity and Nokomis agreed that it made sense to introduce Nokomis into the merger vote with FirstSask. This merger will provide for additional and further diversification in both the rural and urban markets.

First Nations are the fastest growing demographic in Saskatchewan. The number of new First Nations enterprises far outweighs any other in our market areas. Over the next few years the First Nations population is going to make up approximately 40% Of Saskatchewan’s total population, of which 74% will be under the age of 35. This demographic is achieving success in all areas of our economy and the new credit union wants to be part of that success by providing products and services that our First Nations members can rely on. By providing financial services, education, and support we can make a difference in the lives of people who live in our communities every day. Learn more about the First Nations District here.

The new credit union will continue to be represented by local board members as well as a local District Council that will keep decision making in the communities. Members will elect District Councils. District Councils will elect the Board of Directors. Each District will be supported by District Manager(s) in charge of business development and service delivery in those locations. Administrative functions will continue to be shared between centers. This will make the best use of existing facilities and personnel. We will constantly monitor service levels and local support to ensure we are providing an appropriate level of service and expertise in each location and District.

At inception, the existing Districts will continue to form a 25-person Board. After one year of operations, the first round of director elections will reduce the Board to 19 members. In 2009, Directors will be elected from the nine Districts including one First Nations District.

The new credit union will operate under the name Affinity Credit Union. The Affinity Credit Union logo and FirstSask Credit Union’s member promise “Life Spoken Here” will form the basis of a joint re-branding strategy.

George Keter, the present CEO of Saskatoon Credit Union, will be appointed as the Chief Executive Officer.

Mark Lane, General Manager, Affinity Credit Union, will be appointed as the Chief Operating Officer and CEO Designate.

The new credit union will have $2.1 billion in assets under administration, serving 95,000 members from 45 branches in 34 communities across Saskatchewan, with convenient access to services by phone and through the internet.

No. This partnership is not a method to resolve any financial difficulties. Affinity, FirstSask and Nokomis Credit Unions have strong capital positions well in excess of regulatory requirements. In the new partnership all regulatory requirements will be exceeded by a wide margin.

There will be no loss of employment, loss of pay, or requirement for staff to relocate as a direct result of this partnership. There may be changes to the job functions or jobs required. Our primary objective is to provide our members with the quality service they’ve come to expect from people they know and trust. There will also be new job opportunities and employees will receive the training needed to take advantage of those opportunities.

Employees (except for FirstSask Credit Union) will have the choice of being represented by UFCW 1400 or not. The choice made by the employee group will be respected by all parties.

It means a financially strong and vibrant organization with a more diversified rural and urban membership in more communities across Saskatchewan, including Saskatoon and Regina. We will be a larger organization, better positioned to offer you competitively priced services. Most importantly, together we will form a larger, stronger credit union with the resources we’ll need to continue to meet your needs now and in the future.

There are many advantages to the proposed partnership. Members will have enhanced access to a complete range of financial advice and services close to home including access to specialized resources such as wealth management, trust and estate services and financial planning and advice. Members will also have convenient access to services through TeleService, Telebanking and online banking.

Yes, in the long-term. In addition to opportunities for operational efficiencies, the partnership will:

• improve our ability to attract and retain a qualified work force
• provide increased access to specialized resources
• ensure strong, long-term financial sustainability
• save costs on duplicated administrative and compliance activities

Yes, you needn’t be concerned. Individually or as one amalgamated unit, your deposits are always secure and protected by reserve funds locally and provincially. Your deposits are fully guaranteed by the Credit Union Deposit Guarantee Corporation of Saskatchewan.

All partners have an established desire to reward members for patronage and hope to make this a value proposition of the new partnership. In 2006, the combined patronage allocation of the three organizations exceeded $3 million.

Continued community support is a key value in the proposed partnership. A minimum of 3% of pre-tax income is designated for Community Development. District Councils will allocate community support in each community. As the organization grows we hope to see even more resources available for community support.

The new Affinity Credit Union remains committed to its communities. There are 45 branches: Aberdeen, Alvena, Bellevue, Bulyea (Wecan), Borden, Canwood, Dalmeny, Davidson, Hague, Hepburn, Kamsack, Kenaston, Laird, Langham, Leask, Lintlaw, Marcelin, Martensville, Milestone, Nokomis, Norquay, Osler, Pelly, Regina (3), Rosthern, Saskatoon (8), Sedley, Semans, Shellbrook, Simpson, Strasbourg, Togo, Tugaske, Waldheim, Watrous, and Warman.

We intend to continue to deliver services to our members in these locations. As always, the future of branch locations depends upon local support.

We anticipate minimal impact for members. If changes need to be made, we will make every effort to make them as seamless as possible at no cost to you. We will inform you well in advance of any proposed changes.

Service charges and pricing are continuously under review. The new partnership will mean aligning the products and services, as well as service charges and fees.

Eventually, Yes. However this may take some time until all three credit unions are using the same banking system technology.

Yes. Partnerships must be presented to the members for a vote on whether or not to proceed. 75% approval of eligible members present at the meeting(s) is required to proceed.

Special membership meetings will be held from November 1st to November 15th << LOCATIONS AND TIMES>>. You will be notified of the times and locations with an ad in the local paper or you can call your branch.

If members agree, we will begin operating as a new credit union on January 1st, 2008.

The credit union Boards will need to consider an alternative approach to future service delivery if this partnership does not proceed.

If you have any questions or concerns, please contact a Director of your Local Board or stop by your branch and talk to staff or management.