How the Merged Credit Union will Operate

Start Date and Administrative Office

The Proposed Merger is set to be effective July 1, 2025, subject to membership approval. The head office will be the current head office of Summerland Credit Union located in Summerland, British Columbia.

Name and Brand

‍It is intended that the unified “Cascadia Credit Union” brand will launch on the effective date of the Proposed Merger, with all branches and operations adopting the new name and updating signage and related branding as soon as possible following the effective date to reflect the new unified identity. Community names (e.g., “Osoyoos branch”, “Revelstoke branch” or “Summerland branch”) will be visible at each branch location of the Merged Credit Union.

Products and Services

‍Harmonizing products and services will be a key focus as the Credit Unions work towards a seamless experience for all members. Initially, legacy offerings from OCU, RCU, and SCU will remain available to our respective members, reflecting the diverse needs of each community. Over time, these offerings will be standardized to provide equitable access and consistency across all members of the Merged Credit Union. Standardized rates, fees, and terms will be introduced to ensure consistency in pricing while minimizing member disruption and enhancing confidence in the new structure. The Credit Unions or the Merged Credit Union, as applicable, will provide affected members with proper notice of any changes in rates, fees and terms.

The Merged Credit Union will gradually implement a unified product and service portfolio. This approach will utilize increased scale and capabilities to present offerings designed to meet the changing needs of members. These offerings will cover personal, business, and community banking, aiming to support long-term financial stability and development for all.

All deposits will continue to be insured by the Credit Union Deposit Insurance Corporation (CUDIC).

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