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.

What does this mean for AcceleRate Financial members?

Both organizations recognize the strength of the AcceleRate Financial brand and structure and are committed to keeping AcceleRate Financial in place while providing additional resources to continue its current success. The new entity will have the capacity to make further investments to benefit our current and future AcceleRate members. Both boards quickly agreed that the new credit union will maintain the AcceleRate Financial name. Similar to the Access name, the brand for AcceleRate Financial will be refreshed to demonstrate the beginning of a new organization.

With realized cost reductions and operational efficiencies, the new credit union will be in a stronger financial position to not only maintain, but also provide even more competitive rates and fees.

The new credit union will have increased technological capacity allowing for continued investments in leading edge technology, security, and experiences that meet or exceed member expectations. Members would also benefit from technology already available at Access Credit Union, including but not limited to:

• online account opening (registered and non-registered accounts);
• mobile wallets (Apple®, Samsung® and Google Pay®); and
• online chat.

We believe that the new merged credit union will be stronger financially than either of the credit unions individually, with the capacity to provide greater benefits for our members, employees, and communities.

For more information on this potential merger, please visit cusuccess.ca.