News
FOR IMMEDIATE RELEASE – Friday, November 16th, 2007
FirstSask, Affinity and Nokomis Credit Unions Announce Merger
The Boards of Directors of FirstSask Credit Union, Affinity Credit Union and Nokomis Savings and Credit Union Limited are excited to announce that the organizations will merge effective January 1st, 2008.
The new credit union will operate under the name Affinity Credit Union, and will include a First Nations District formed through a partnership with eight First Nations Bands.
Members voted at Special Meetings hosted by each credit union from November 1st to 15th, 2007, with membership support for the new organization as follows:
| Nokomis Savings and Credit Union Limited | 97% in favour |
| FirstSask Credit Union | 88% in favour |
| Affinity Credit Union | 89.9% in favour |
“We are a good match in all respects,” said Ed Cechanowicz, President, Affinity Board of Directors. “We each have a strong commitment to enhancing service for members.”
“Our memberships are quite similar with significant exposure in consumer, agriculture and commercial sectors,” said Elwood Harvey, President of FirstSask Credit Union. “The combined organization will continue to serve the needs of members and will retain a shared emphasis on community growth and diversity.”
“This merger provides for growth and further diversification in both the rural and urban markets,” said Darryl Reynolds, President, Nokomis Savings and Credit Union. “It will also provide additional resources in serving our members.”
When asked about the successful vote and creation of the First Nations District, Chief Dale Awasis, from Thunderchild First Nations, said, “We are very excited to be a part of this historic venture. Future generations will realize that the business sector extended their hand, reached out to the First Nations, and with the strong support of credit union members, made Saskatchewan a more inclusive province. This is a positive example of what can be achieved when First Nations people and non-First Nations people work together.”
The new credit union will offer access to a complete range of financial and investment products and services and will serve over 95,000 members from 45 branches in 34 communities across Saskatchewan. Assets under administration will exceed $2 billion.
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For more information, contact:
Tina Merrifield
Corporate Communications Manager
FirstSask Credit Union
Tel: (306) 934-4083
Shawna Miller
Manager, Marketing and Development
Affinity Credit Union
Tel: (306) 946-3522