Financial institutions pursue merger

Some North Okanagan residents may have access to a larger financial network.

Some North Okanagan residents may have access to a larger financial network.

Island Savings and First West Credit Union, which operates Valley First and Enderby and District Financial brands, are moving forward with next steps in their proposed merger.

“First West is inspired by one of our six big ideals — act local — because we have unique communities across B.C. that deserve a local focus when it comes to their banking needs,” said Launi Skinner, First West chief executive officer.

“The Valley First team in the Okanagan, Similkameen and Thompson valleys; the Enderby and District Financial team in the North Okanagan; and the Envision Financial team in the Lower Mainland, Fraser Valley, and Kitimat are all dedicated to making a meaningful difference in the financial lives of their members and the prosperity of their communities.”

Members of Vancouver Island-based Island Savings must vote on special resolutions before the organizations can legally come together at year-end. Voting will take place from Nov. 5 to 12 and the results will be announced Nov. 14.

“Our members are attuned to the economic realities around us,” said James McKenzie, board chairperson of Island Savings.

“That’s why our credit union has been able to steer through the economic challenges of the past five years and still remain strong.

“We want to preserve this successful financial legacy and we can do that through this innovative partnership. By joining up with a similarly strong credit union like First West, we can serve even more Islanders how, when and where they want.”

 

Vernon Morning Star

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