Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Canada CUs merge combined membership 2.8 million
VANCOUVER, British Columbia and MISSISSAUGA, Ontario (7/7/08)--Credit Union Central of British Columbia and Credit Union Central of Ontario officially merged on Tuesday, with a combined membership of 2.8 million. The new credit union will be named Central 1 CU. Central 1 will provide services to 196 member credit unions in British Columbia and in Ontario. It will have more than $7.5 billion in assets (Marketwire July 2). Credit Union Central of British Columbia acquired the assets of Ontario Central. Central 1 shareholdings will reflect the proportion of member credit unions in each province. The merger proposal was announced on Oct. 6, 2006, based on a concept that other provincial credit unions would join to create a single entity. Canada is currently served by six provincial credit unions and a national trade association. “We continue to see this as a first step toward a national financial services organization for credit unions,” said Daniel A. Burns, Central 1 chairman.


RSS print
News Now LiveWire
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
15 minutes ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
41 minutes ago
Need an #ICUDay focus? Try fundraising for charities, says @WOCCU #NewsNow http://t.co/M1OUjImOIu
1 hours ago
#NewsNow: NJ-based money services business fined for repeated #BSA violations. http://t.co/6or7wDbomL
1 hours ago
#NewsNow: Wal-Mart to issue EMV MasterCards within next few weeks. http://t.co/9csqwhFEdB
2 hours ago