Update: January 20, 2021
Earlier this week, the Boards of Connect First Credit Union and Spark The Energy Credit Union met independently, and subsequently, unanimously approved a Business Case to amalgamate.
The unanimous approval from both Boards results from a strong business case for the merger and represents clearly, the significant benefits of amalgamation, for the members of both credit unions.
We are now proceeding with completing the legal and regulatory requirements and required approvals. Following amalgamation, Spark and Connect First will serve approximately 130,000 members in 44 different communities across central and southern Alberta, employ almost 750 Albertans and with over $6 billion in assets will be one of Canada’s largest credit unions. Subject to a YES vote from Spark’s membership and other regulatory approvals, Spark and Connect First will commence as an amalgamated credit union on November 1st of this year.
CEO Connect First Credit Union