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Canadian credit unions request regulatory nod for merger
['Miles Hadfield']
Co-operative News
The boards of Greater Vancouver Community Credit Union (GVC) and Cascadia Credit Union (Cascadia) have voted to apply to the BC Financial Services Authority (BCFSA) for permission to merge.
This represents an important milestone, the credit unions say, following their announcement in May of a memorandum of understanding to explore a potential merger.
“Our two credit unions are so well aligned in our values and the continued importance of personalized service.
The board of directors at each credit union carefully and independently evaluated the opportunities and risks associated with the potential merger.
Members of both credit union will have opportunities to learn more, ask questions and provide feedback on the proposed merger.