CROSSTOWN CIVIC AND ACCESS CREDIT UNION MEMBERS VOTE IN FAVOUR OF AMALGAMATION
The Boards of Directors of Crosstown Civic Credit Union (CCCU) and Access Credit Union (Access) announce the approval of the merger by their memberships. The announcement of the results were shared at each credit union’s Special Meeting of Members which was held via teleconference the evening of June 25, 2020.
Voting took place through an online and in-branch vote from June 23rd-25th. A two-thirds majority vote was needed. We are pleased to share that the resolution was passed with 87% of the members that voted in favour from Crosstown Civic Credit Union and 77% in favour from Access Credit Union.
Better for Members
Members would enjoy the convenience of more branches, the expertise and knowledge of combined staff, along with enhanced products, services, and technological solutions.. In addition, the new credit union would eliminate duplicated costs and take advantage of more economies of scale. These efficiencies would put the credit union in a stronger financial position long-term and allow for future investment, continued competitive rates for our members, and enhanced patronage payouts to the collective membership in the future.
Better for Employees
The new credit union would provide more opportunities for employee development across a broader network, and with more diversified roles than is currently available today. This diversity would offer personal advancement and growth prospects, or the chance to specialize in a role, or to gain deeper understanding of operations in the organization without the need to relocate. Staff would have elevated back-up support and coverage during vacations or in an emergency.
Better for Communities
The new credit union would be stronger financially than either of the credit unions individually, with the capacity to support communities with new services and resources (e.g. online and mobile services, larger commercial support and opportunities, and local outreach initiatives).
- Our members
- Our employees
- Our communities
- Common heritage
- Steady, strong financials
- Community investment
- Enhance products, services, and patronage program
- Offer more and diverse career opportunities
- Improve technology solutions