Another merger could be in the works for Access Credit Union. Early discussions began after the board of directors for Amaranth Credit Union expressed interest in joining Access earlier this year. 

In a news release, both credit union boards indicated their value of the cooperative principles, which include investing in communities and keeping rural branches accessible and open. Joining Access, the largest credit union in Manitoba would also allow Amaranth members to benefit from better technology and innovative solutions in an ever-increasing competitive environment 

“The proposed partnership with Access provides tremendous benefits to our members, employees, and communities. Although these discussions are still in the beginning stages, we look forward to bringing more details forward to our members in the future,” noted Amaranth President, Marie Strong.

“We continue to look towards building a credit union for all Manitobans. Amaranth shares that perspective and these merger discussions are focused on how to extend that vision to Amaranth and its surrounding communities.” shared Kevin Beresford, Board Chair for Access Credit Union.

Currently, the Amaranth Board of Directors is undergoing a due diligence process that includes engaging with its members and employees. Once that is complete, directors will decide whether or not to recommend a merger. If the proposal moves forward, members of Amaranth Credit Union would vote this fall. 
Members of Access Credit Union are not required to vote since Access' portion of assets represents more than 90% of the proposed new entity's asset size.

Amaranth was incorporated in 1960 and currently serves 1,200 members with $18 million in assets, one branch, and ten employees in Amaranth, MB.

Click here for more information regarding the potential merger.