Closed Truth and Rec 2022


 

 

EARL GREY CREDIT UNION MEMBERS APPROVE MERGER WITH RADIUS CREDIT UNION


On behalf of Dawn Butz, Board President, Earl Grey Credit Union Limited and Ray Barbarin, Board President, Radius Credit Union we are pleased to announce that members of Earl Grey voted in favour of the proposed merger, effective January 1, 2023.


“Earl Grey Credit Union Limited has proudly provided exceptional service to the community of Earl Grey and surrounding area for 69 years and wishes to continue to do so well into the future.” said Butz “Because we are a healthy Credit Union, with dedicated staff and supportive members we have the opportunity to choose a path that we feel is in the best interest of our members. Five years ago, the Earl Grey Board began to question whether remaining autonomous was truly the best thing for our members. Were we limiting the opportunities of our members, and the credit union as a whole? Looking into the future we could see that we would be unable to keep up with the technological advancements that are now a big part of a younger generations’ banking expectations. The last three years have shown us even more clearly that with the cost of doing business increasing, loan lending limits, ever increasing compliance demands, and a pending General Manager retirement we needed to re-evaluate our future path. We have maintained a healthy bottom line, but it is not keeping pace with increasing operating costs and within a few years that margin will disappear entirely. We weighed all of the options, and believe a merger is the best step towards a prosperous future which will allow us to maintain our core values while improving the services we provide to members. Radius has a history that speaks to their strong character. A likeminded organization that understands the value of our credit union and our people, displayed a true co-operative spirit, have opened a rural branch, and continue to add to their brand without closing doors or cutting jobs.  We are grateful to members who participated by exercising their vote of 93% in favour of this important decision. We are excited to take this next step with Radius so our members can enjoy an excellent banking experience.”


In response to the favourable vote, Barbarin stated, “We believe there’s good opportunities in rural Saskatchewan and want to continue to build and strengthen relationships through a local presence. Both credit unions share this unwavering commitment to our members.”


For more information, please contact:

Lynnette Houston, General Manager, Earl Grey Credit Union Limited This email address is being protected from spambots. You need JavaScript enabled to view it.  (306) 939-2100

Ted Struthers, CEO, Radius Credit Union This email address is being protected from spambots. You need JavaScript enabled to view it. (306) 459-2266