WINNIPEG – A proposed merger that would have created what is believed to be the largest credit union in Manitoba and one of the largest in Canada has fallen short by a few votes.
Members of the Access Credit Union voted 63 per cent on Wednesday in favour of a special resolution from their board to merge with the Assiniboine Credit Union.
The resolution needed a margin of 66 per cent to pass.
Margaret Day of Assiniboine and Access’s Darryl Loewen, who chair the boards of their respective businesses, said they’re disappointed by the outcome.
In a co-operative business model such as a credit union, the membership has the final say, they pointed out.
Had the motion gone through, the merger would have also created the sixth-largest credit union in Canada.
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