Surrey/Abbotsford – The Boards of Directors of Prospera Credit Union and Westminster Savings Credit Union announced on Friday that B.C.’s Financial Institutions Commission (“FICOM”) has provided regulatory consent for the proposed merger of their two long-standing credit unions.
The proposed merger will now be put to all members through an information campaign and voting process from October 30 to November 15.
If approved by the memberships of both credit unions, the merged entity will be known as Prospera Credit Union. Key member benefits from the merger include an expanded branch footprint and the opportunity to provide new and enhanced products and services, more competitive rates and a better online and mobile banking experience.
There is no word if this merger had anything to do with Prospera walking away from the naming rights to Chilliwack’s Prospera Centre. Those naming rights ended this year after 15 years of branding.