Credit union merger approved
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Valley First Credit Union members have joined their Envision Financial counterparts and have given resounding thumbs up to a merger between the two companies.
A reported 88.4 per cent of Valley First and 90.3 per cent of Envision voters have endorsed the amalgamation.
Effective Jan. 1, 2010, the newly named First West Credit Union will become the third largest banking institute of its kind in the province. Regulatory approval was granted in June of this year and the support of two thirds of all eligible votes were required to proceed.
Members of the new credit union will have access to 37 branches and 29 insurance offices throughout the Lower Mainland and the Interior.
The credit union will have approximately $5.6 billion in assets under administration, 1,250 employees, and 167,000 members.
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