The Board of Directors of Vision Credit Union and Pincher Creek Credit Union confirmed today that they have entered into formal discussions to investigate the possible amalgamation of their two credit unions.
The next phase will require both credit unions to complete due diligence to ensure that the amalgamation will benefit all stakeholders. If due diligence is approved by both organizations, Vision would welcome the members and staff of the Pincher Creek Credit Union into their operations no later than October 31, 2021.
Both Vision Credit Union and Pincher Creek Credit Union are well-established, well-respected and well-trusted in their respective rural Albertan geographic areas. Both have a strong base of loyal members and have grown in terms of membership, volume and reach of service area. Having previously collaborated on various projects, the two credit unions also have an existing connection.
If members of both credit unions vote in favor of this growth opportunity, and the required regulatory approvals are received, Pincher Creek would become the southern Alberta “hub” of Vision Credit Union, creating a stronger organization that’s well-poised for opportunities. The amalgamated Credit Union would serve over 26,000 members at 18 branch locations, with more than 185 staff members and approximately $1.4 billion in assets.
“Pincher Creek Credit Union shares cultural similarities with Vision and we believe these similarities are a solid foundation for a successful merger. We’re excited about the possibility of working with the Pincher Creek team and about serving the membership and trade area,” said Alan Fielding, Vision Credit Union President. “Vision Credit Union is rooted in rural Alberta and committed to providing financial services to the people who live here.”
Stuart Schramm, President of Pincher Creek Credit Union, said “Vision Credit Union shares our roots in serving rural Alberta and this merger offers the opportunity to expand the services available to all our members. We are looking forward to Vision becoming part of the community that PCCU has served for the past 76 years.”
Members that have any questions or concerns are encouraged to call 1-833-VCU-TALK (1-833-838-8255) to speak with Vision Credit Union CEO Steve Friend, or Pincher Creek Credit Union General Manager Vicki French at 403-627-4431.
About Vision Credit Union and Pincher Creek Credit Union
Vision Credit Union
A lot has changed since 1950 when Vision Credit Union opened its first branch in Camrose with 21 members and $178 in assets.
Today, Vision Credit Union is the third largest credit union in Alberta. We serve over 24,500 members at 17 branch locations, with more than 178 staff members and approximately $1.34 billion in assets.
What hasn’t changed is Vision’s commitment to serving its members and to providing financial solutions rooted in an understanding of the communities we serve.
Pincher Creek Credit Union
Pincher Creek Credit Union was established in 1944 by the local Victory Committee who saw a need for a grass roots financial organization for neighbors to help neighbors. Small beginnings of 11 founding members and assets of $275.
Today we are still a single branch with over $73 million in assets serving over 1,700 members with a staff of 8.
For 76 years our members are and always have been the roots of our organization and community, our commitment to support both the members and community will continue.