Conexus Credit Union says the way people bank is behind its decision to close nine branches in Saskatchewan.
The Regina-based company said Tuesday that branches in seven communities and two in Regina are closing on Oct. 2, 2019.
“Decisions on branch closures are among the most difficult for us as a co-operative,” said Conexus CEO Eric Dillon.
“While respecting our past, we must build a future that allows us to best serve our members by offering flexibility in our delivery of service and that aligns with our members’ ever-changing needs and expectations.”
Affected community branches are in Chamberlain, Cupar, Drake, Middle Lake, Mossbank, Spy Hill, and Young. The Fifth Avenue and Wallace branches will be closing in Regina.
Dillon said the closures affect 38 employees, but said the hope is no one will lose their job and staff will find other opportunities with the company moving forward.
The company said its members are accessing service differently than they did in the past, using more digital services and less cash.
Conexus is investing in its digital channels to align with changing expectations, Dillon said, adding that another avenue the company is looking at is having professionals travel to meet members to discuss their financial needs.
Dillon said the company will work with affected customers to best understand their needs and identify solutions.
“We recognize this is a big change for our members and our communities and change can be hard,” Dillon said.
“Our goal is to make this change as seamless as possible for our members, and our teams are ready to walk alongside each of our members through this transition.”
Conexus said it will continue to support communities where branches are being closed.
“Notwithstanding that our branch presence in communities is changing, we are committed to the co-operative principle of returning profits to our shared community,” Dillon said.
“This is an important promise that we make to our members and communities and that’s not changing just because our branch structure is.”
Conexus is Saskatchewan’s largest credit union and the sixth largest in Canada, with $8.26 billion in total funds managed.
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