April 27, 2018
Calgary, AB – The Boards of Connect First Credit Union and Mountain View Credit Union have met independently, and unanimously approved a Business Case to amalgamate.
Pending member and regulatory approval, the amalgamated credit union will operate under the legal name of Connect First Credit Union Ltd., with four member facing brands: Chinook Financial, First Calgary Financial, Legacy Financial and Mountain View Financial.
With 46 locations, almost 120,000 members, more than 700 staff and assets of $5.4 billion, Connect First will be one of the 10 largest credit unions in Canada.
“Our Board has determined that an amalgamation based on the principles of partnership and regional autonomy will provide greater value for our members than remaining as two independent credit unions”, said Mountain View Board Chair Charlie Van Arnam.
“The benefits to our members include more competitive products and services, enhanced technology offering, increased ownership dividend opportunities and more locations to do their business across southern and central Alberta”, said Connect First Board Chair Andrew Eberl.
Both credit union memberships will be asked to vote to approve the amalgamation at membership meetings being held as follows:
Connect First Credit Union members: June 6, 2018 at TELUS Spark (Calgary)
Mountain View Credit Union members: June 7, 2018 at Olds College Alumni Centre (Olds)
For more information about the amalgamation, go to BetterForOurMembers.com.
About Mountain View Credit Union – Mountain View Credit Union operates 13 branches in Central Alberta and has assets under administration of $852 million. Mountain View is headquartered in Olds and employs 125 people. The credit union has grown from humble beginnings in Cremona in 1943, to delivering a full range of products and advisory services to more than 17,500 members today. As a member-owned organization, profits are shared with the members. Since 1988, the credit union has paid more than $23 million in profit sharing.
About Connect First Credit Union – Connect First Credit Union offers its members a full range of financial products and services through trusted local brands and a community-focused approach to banking. We are proud to employee over 600 Albertans. Connect First is Canada’s 10th largest credit union, with over $5.8 billion in assets under administration. It serves 104,000 members through 29 locations in 14 communities across southern Alberta, under the brands: First Calgary Financial, Chinook Financial and Legacy Financial.
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Connect First Credit Union
Director, Brand & Stakeholder Engagement
Mountain View Credit Union
Vice President, Marketing