Merger Approved Between Columbia Valley & Kootenay Savings Credit Unions
By Contributor
The members of Columbia Valley Credit Union (CVCU) have voted in favour of a merger with Kootenay Savings Credit Union (KSCU), expanding the impact credit unions have on individuals, families, and businesses in Golden and the Columbia Valley.
“Uniting our credit unions under the Kootenay Savings banner is an important milestone for our members, employees, and the communities we serve,” said Rob Parker, CEO of CVCU. “The results of this vote communicate our members’ support for the merger and the opportunities it will create. We are excited by the potential that KSCU brings, and we thank our members for taking the time to cast their vote.”
Members had the ability to vote on the proposed merger online or in-person from Nov. 14 – 28. A total of 694 eligible CVCU members voted and 78% of those votes were in support of this merger. CVCU rules or bylaws require that 2/3 of eligible members voting must vote in favour for the special resolution to pass. Given this requirement, the merger
received the necessary approval to proceed.
“CVCU has made a significant impact on Golden and area, and the Kootenay Savings team is looking forward to the opportunity to continue this legacy and expanding our service to the entire] Columbia Valley,” said Mark McLoughlin, the President and CEO of KSCU. “The full transition to KSCU will happen through 2026, and we will keep members in Golden and area updated on any changes and new opportunities.”
McLoughlin will continue to serve as the President and Chief Executive Officer of the Merged Credit Union which will operate as KSCU. While the merger will come into effect on Jan. 1, 2026, it will be business as usual in the short term for CVCU members.
“Early in 2026, CVCU members will notice little to no change in how they bank”, shared Rob Parker, who will become the Chief Integration Officer at KSCU. “Members will continue to access their accounts online through cvcu.bc.ca and receive in- branch support from the employees in Golden that they know and trust.”
The new credit union will have nearly 40,000 members and combined assets of $1.9 billion. Members can learn more about the merger and ongoing integration at www.bridgingopportunity.com.
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