Kootenay Boundary Credit Unions continue to explore amalgamation
It's been a busy winter for 7 partner credit unions around the Kootenay's Columbia Valley and Boundary, as they work on the design and potential of a new, united credit union.
Next steps in the proposed amalgamation are being explored, and include Kootenay Savings, the Nelson and District Credit Union, the Grand Forks Credit Union, and the Creston and District Credit Union.
The project has involved more than 60 people including a 21-person steering committee and various management and staff working groups.
Currently, the seven credit unions are working together to complete the business case.
Once finalized, it will be reviewed for approval by the Boards of Directors for each of the seven credit unions.
The final stage of approval would be a vote by members.
An amalgamation between seven credit unions has never before taken place in Canada.