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Alterna-Member Savings merger now official

By The IJ Staff | January 05 2021 09:20AM

Member Savings Credit Union has now officially merged with Alterna Savings and Credit Union Limited and once joined on the same banking system will have access to 35 more branches across Ontario.

The combined entity will have more than 186,000 members and more than $9.5 billion in assets under management.

Merger publicly approved

The merger was announced on October 21, 2020 and, following the due diligence process and regulatory approvals, the Member Savings membership vote was publically announced on November 18, 2020. "Despite the challenges that COVID-19 presents, Alterna is eager to fulfil our promise to bring Member Savings members our innovative products, services, contact centre and our large network of branches while putting health and safety first,” said Rob Paterson, president and CEO of Alterna Savings.

“While many things have changed, Member Savings members can expect to receive the same outstanding service they have become accustomed to. This continuity is so important and encouraged for both our staff and members during a time when so much has changed."

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