Rescheduled Merger Vote Announced
Following the temporary orders recently announced by the provincial government concerning ongoing business during the COVID-19 pandemic, the Boards of both Access and Crosstown Civic Credit Union are announcing their intention to facilitate the previously postponed member vote on the proposed merger from June 23rd to June 25th. The formal notice for the member vote was published in the Winnipeg Free Press on May 28th, 2020.
On Thursday, May 14th, the Government of Manitoba introduced new orders under The Emergency Measures Act that would temporarily provide businesses with the ability to hold their member meetings and conduct their voting by means of telephone, electronic or other communication facilities. These provisions will allow both Access Credit Union and Crosstown Civic Credit Union to maximize member participation in this important vote while maintaining the health and safety of both members and staff through social distancing.
"When we postponed our original vote on March 19th, it was to take reasonable action while fully supporting our members' well-being, knowing that we would reschedule the vote when it was appropriate to do so." shared Curt Letkeman, Chair of the Board of Directors for Access Credit Union. "These new measures demonstrate support for moving ahead to a vote with our respective memberships."
Ingrid Loewen, Board Chair for Crosstown Civic Credit Union added, "We now have an opportunity to reschedule the Special Meeting of Members and Vote on the proposed Merger to which both Boards are tremendously supportive. The COVID-19 pandemic has further strengthened the importance of this merger for the future of our combined credit unions."
More information on the details of this vote will be shared shortly.
Term maturity notices distributed in advance
Term maturity notices with a renewal date of May 17, 2020 or sooner will be distributed in the first As the COVID-19 situation continues to evolve, we are taking a proactive approach to advising our members of their maturing investments.
With this in mind, we have decided to distribute our term maturity notices to our members well in advance of the maturity date to give members time and opportunity to review their options and make an informed decision with their investment.
AcceleRate Financial will be distributing all term maturity notices with a renewal date of May 17, 2020 or sooner in the first two weeks of April 2020. All maturity notices with a renewal date of May 18 to July 1 will be distributed before April 30, 2020. We encourage all members receiving these notices to review them and advise us of desired next steps prior to the maturity date.
If you have any questions or concerns regarding these letters, please contact us at:
We thank you for your continued patience and patronage.
POSTPONED: Member vote on merger
When faced with such uncertainty, making responsible and informed decisions based on key sources of information, is vital. Member and employee safety is of utmost importance to us and is critical to our decision making. To that end, with the growing uncertainty brought on by the COVID-19 virus and mounting global concerns, we have been tasked with making some very difficult decisions.
As part of that commitment to safety, and in an attempt to take reasonable yet appropriate action while fully supporting our members' needs and regulatory requirements, we have decided to postpone our Member Vote and corresponding Special Meeting of Members for the proposed merger with Access Credit Union. The event and online vote was to be held on March 19, 2020. This action is intended to support the local and national efforts to reduce the spread of COVID-19 infections through social distancing.
We will look for an opportunity to reconvene the Special Meeting of Members and Vote on the proposed Merger with Access Credit Union in the future and will share additional information when that timing is determined. Please keep your voting package, which contains your personalized ballot and password as it will remain the only method to cast your vote once the meeting is rescheduled. We apologize for the inconvenience the short notice has caused, and we look forward to meeting with you when it is declared safe for us to do so.
How to Vote for the Proposed Merger Between Crosstown Civic and Access Credit Unions
With the completion of the business case and due diligence review, both Crosstown Civic and Access have concluded that the proposed partnership is in the best interests of their members, employees, and communities. As a result, both credit union boards have recently signed an Amalgamation Agreement and are inviting the respective memberships to vote on the merger proposal on March 19th.
For your convenience, and to ensure as much participation as possible, we are pleased to offer secure electronic voting for this proposed merger. Electronic voting will be the only available method for voting on this important decision.
Save the date. Voting will be open from 8:30 a.m. until 8:30 p.m. CST on Thursday, March 19th, 2020.
Claim your ballot. Watch for your voting package, expected to be in your mailbox the week of March 9th, 2020—you will need your unique ballot ID and PIN from this mailer to vote.
Inform yourself. Ensure you are well informed before you vote. Please review all the information received via mail and updates posted to www.cusuccess.ca.
VOTE on March 19th. Eligible members are entitled to one vote each. Please vote from your home or office on your mobile device or personal computer between 8:30 a.m. CST to 8:30 p.m. CST.
Tune in for the results. Results of the vote will be officially announced at the Special Meeting of Members after 8:30 p.m. once all the votes have been finalized, and shared across our website and social media shortly after that. We will share further information on next steps once the decision about the merger has been finalized.
Vote Today, Shape Tomorrow.
For each ballot received, we’ll donate $1 to your choice of Children’s Hospital Foundation of Manitoba, CancerCare Manitoba Foundation, or the Heart and Stroke Foundation. Simply make your selection at time of voting.
For more information on this potential merger, please visit cusuccess.ca.