As our communities learn more about the potential merger between First Credit Union and Vancity, members and partners may be interested in seeing how the story is being shared. This page brings together news articles and media coverage from local and regional outlets, offering another way to stay informed as the process moves forward.
Potential financial institution merger includes Powell River branch
Powell River Peak
First Credit Union and Vancity granted opportunity to become one large organization. This decision allows FCU to proceed with a member vote to approve the merger later this fall, likely in November, according to FCU chief operating officer Adam Fraser.
“The regulatory consent was an important milestone for us to be able to start engaging more with our members,” said Fraser. “We’re excited to start having more of these types of conversations. So much more information is going to be coming from us soon, and then there will be lots of information around the ways in which the democratic process of credit union membership will dictate the future.
Read the full article at The Powell River Peak online.
Two notable B.C. banks with 585,000 members receive consent for proposed merger
Daily Hive
A proposed merger between two notable B.C. banks has received regulatory consent. The two financial institutions are Vancouver City Savings Credit Union, better known as Vancity, and First Credit Union (FCU). Once the merger is finalized, it will result in a combined total of over 585,000 members from the two institutions.
According to a release from Vancity and FCU, the merger has received regulatory consent from the BC Financial Services Authority, which allows FCU to proceed with a member vote expected to take place this fall.
Read the full article at Daily Hive online.
Vancity and First Credit Union Receive Regulatory Consent, Clearance for Proposed Merger, Paving Way for Member Vote
The Globe and Mail
Vancouver City Savings Credit Union (Vancity) and First Credit Union (FCU) announced a significant milestone today in their proposed merger, having received regulatory consent from the BC Financial Services Authority (BCFSA). This decision allows First Credit Union to proceed with the member vote later this fall, a vital step towards building a stronger, more resilient community banking model for its members.
Read the full article at The Globe and Mail online.
Vancity and First credit unions given regulatory approval to merge
The COOP News
Canada’s Vancity Savings Credit Union and First Credit Union have received regulatory approval to merge from the BC Financial Services Authority.
The Canadian Competition Bureau has also cleared the deal which leaves it to First Credit Union members to give the merger the seal of approval with a vote later this fall.
Read the full article at The COOP News online.
