Vancouver Island’s Coastal Community Credit Union is considering a merger with Integris, a credit union serving north-central BC.
The two credit unions announced on April 2 they have signed a memorandum of understanding to explore a merger.
In a joint statement, the credit unions say they believe merging will allow them to enhance services for customers, and also to better position them to be more innovative.
Both credit unions were founded in 1946. Combined, they would hold about $5.7 billion in assets. If the boards of both credit unions approve the merger, it will be subject to review and approval by provincial government agencies.
