Member Frequently
Asked Questions

Merging our credit unions will allow us to combine resources and provide more extensive services to members, including increased product offerings, specialized expertise, and a larger branch network. The proposed merger comes at a strategic time, allowing us to stay ahead of industry changes, such as digital transformation and regulatory shifts, ensuring a better member experience in the South Okanagan and Columbia-Shuswap regions.

By merging, we can combine our expertise and scale to build a stronger, more sustainable organization that is well-positioned to respond to these emerging opportunities and challenges.

Coming together now offers a timely opportunity to capitalize on the strengths of all three credit unions and execute a long-term strategy for success.

During the due diligence process and business case development, we have identified several benefits for members of the three credit unions.

The proposed merger will provide members with six branch locations across the South Okanagan and Columbia-Shuswap regions. The proposed merger is expected to allow the credit unions to leverage resources, which we anticipate will lead to lead to greater investment in products and services for members.

Overall, members of the merged credit union are expected to benefit from the increased long-term stability of services in their communities. Learn more about the benefits of the merger here.

There are many steps along the way for a successful merger including due diligence, Board approval from each respective credit union, regulatory consent, and a positive membership vote from each of the three credit unions.

We are currently seeking regulatory consent. Should consent be provided, anticipated by Spring 2025, and contingent upon a successful member vote from each of the credit unions, we aim to complete the merger in Summer 2025.

We will keep you updated about the merger through a variety of channels, including a dedicated website, a member guide, in-person and virtual town halls, branch open houses, our website, and email.

We are committed to keeping you informed and engaged throughout the process, ensuring that you have access to all the information you need.

You should notice little change at the time of the merger to your branch and existing services. The merged credit union will have branch locations across the South Okanagan and Columbia-Shuswap Regions. There will be transition period while we integrate our systems and processes to allow for members to be able to be serviced at any of the merged credit union’s branches. We recommend continuing to utilize your current branch until the transition period is complete.

In time, the increased capacity of the new credit union is expected to  to enhance the member experience by making greater investments in technology, improving the overall digital experience for our members from faster decisions to more access from the comfort of your home.

Our credit unions are committed to continuing to serve you the way you know, providing continuity of service, a friendly attitude and advice that’s always in your best interest.

At the time of the merger, no changes are expected to occur.  You will keep your current products, accounts and other financial services.

After the merger, we will be evaluating our products and services to determine what best meets the needs of members in the newly merged credit union. If any changes are made as part of this process, you will be given ample notice, and measures will be taken to mitigate any potential disruptions to service.

We expect that as a merged credit union, we’ll be able to provide greater options than we offer today, and that the merged credit union will be more resilient to the challenges facing our sector.

You will continue to enjoy the 100% guarantee with respect to your deposits through the Credit Union Deposit Insurance Corporation of British Columbia.

For the initial period following the merger, you should notice little change to your branch and how you bank. You will not need to change anything, and your direct deposit and other arrangements will continue to function as you expect.

After the merger, we will be evaluating our products and services to determine what best meets the needs of members in the newly merged credit union. If any changes are made as part of this process, members will be given ample notice, and measures will be taken to mitigate any potential disruptions to service.

The proposed merger will not affect your existing mortgage agreement. You can continue to enjoy the same terms and conditions without any changes.

You do not need to take any action at this time. If the  merger application receives regulatory consent, as a member, you will have the opportunity to vote on the merger.

We will manage all the necessary updates and changes on our end. However, we may reach out to you if there are specific actions required or if you need to update your information.

There will be no change in member fees at the time of the merger.

Moving forward, a merger would ensure the merged credit union can offer members the best possible value, with competitive rates, products, and services which may lead to a change in member fees.

However, if any changes are made as part of this process, members will be given ample notice, and measures will be taken to mitigate any potential disruptions to service.

Yes, your personal information will remain secure throughout the merger. All three credit unions are committed to protecting your privacy and safeguarding your data.

We continue to follow strict privacy and security protocols, ensuring that your personal information remains confidential and is used only for the purposes it was originally intended.

As we move through the merger, these protections will stay in place, and any changes in policy will be clearly communicated to you.

At the time of the proposed merger, you’ll notice little change to your banking, and you can continue to bank as you normally would at the branches you currently visit for your financial services needs. We anticipate that as we align our systems following the merger, members will be able to bank at any of our six branch locations. Today, you can already use the ATM at any of Osoyoos Credit Union, Revelstoke Credit Union and Summerland Credit Union as part of the shared credit union service.

We are here to help with any questions you may have.  If you have any questions about the proposed merger, please visit the Contact page.

No change is expected to your online banking or mobile app access immediately after the merger.

In the future, the merged credit union will review all products and services including online banking, which may lead to enhancements in the future. If any changes do occur regarding how you access your online banking or mobile app, including the need to download a new mobile app or update your login credentials, you will be provided with ample notice.

We recognize that our employees are central to your member experience with us.

Our credit unions are committed to continuing to serve you the way you know, providing continuity of service, a friendly attitude and advice that’s always in your best interest.

There will be opportunities for employees to benefit from this merger, and our process involves extensive discussion with our employees.

We anticipate that the proposed merger will provide greater resources available to employees, more career and professional development opportunities, and all employees will be fully protected from job loss as a result of the proposed merger.

We understand this issue is of great importance to employees and the members they serve. All employees will be offered a role in the new credit union and layoffs will not occur as a result of this merger.

New opportunities are expected to arise in the new, larger organization, such as different roles, career paths and professional growth opportunities.

Yes, there will be changes to leadership as part of the merger.  Details about the new leadership structure and team will be shared as we move forward through the merger process.  

Yes, there will be changes to the board as part of the merger.

After the merger, the new board will be composed of members from all three credit unions, reflecting a blend of perspectives and expertise to best serve our members and guide the combined organization.

The new Board of Directors will be communicated to members when the details have been finalized.

As part of the new strategic direction for the merged entity, there is a rebranding effort underway.

This includes the creation of a new name for the merged entity, which at this time, has not been finalized.

All three credit unions are working together on this, with the goal of finding a name that reflects the traditional nature and aspirational goals of our credit unions. If the merger is successful, the new name will be put in place shortly thereafter.

The merger will not impact our commitment to local community involvement. We remain dedicated to supporting and engaging with our communities through various initiatives and programs.

We believe that the combined resources and expanded reach of the merged credit union will enhance our ability to contribute to and support local community efforts even further.

During the merger transition, support will be available through dedicated teams at each branch, who can assist with any questions or concerns.

Additionally, we will provide updates and information via our website, email, and other communication channels.

Our goal is to ensure a smooth transition and to be readily available to help you throughout the process.