Access Credit Union and Amaranth Credit Union Engage In Merger Discussions

Manitoba—The Boards of Directors for Access Credit Union and Amaranth Credit Union are pleased to announce that they are currently engaged in discussions regarding the potential for a merger between the two organizations.

Leaders from Access and Amaranth began discussions earlier in 2022 following Amaranth’s expressed interest in joining Access. Both credit union boards value the cooperative principles, which include investing in communities, and keeping rural branches accessible and open. Joining Access, the largest credit union in Manitoba, would allow Amaranth members to benefit from better technology and innovative solutions in an ever-increasing competitive environment.

As part of their continuing due diligence, Amaranth Credit Union will encourage participation by engaging with their members and employees. This will be valuable as they determine their next steps, and the Amaranth board prepares a recommendation to their membership. If the recommendation to move forward proceeds, Amaranth members would would vote on the proposal. Access members are not required to vote since Access' portion of assets represent more than 90% of the proposed new entity's asset size.

“The proposed partnership with Access provides tremendous benefits to our members, employees, and communities. Although these discussions are still in the beginning stages, we look forward to bringing more details forward to our members in the future,” noted Amaranth President, Marie Strong.