Two of Alberta’s largest credit unions have announced plans to explore a business case to amalgamate and form a regionally focused credit union.
    “Our Boards have determined there is potential for an amalgamation of our two credit unions to provide greater value for our members than remaining independent”, said Mountain View Board Chair Richard Anderson. “The benefits to our members include more competitive products and services, enhanced technology offering and more locations to do their business across South and Central Alberta.”
    “Our two credit unions have been strengthening communities across south and central Alberta for almost 80 years,” said Connect First Board Chair Andrew Eberl. “We’re a good fit as we share a focus on local member service, employee engagement, cooperative values, community participation and long-term sustainability”.
    Connect First Credit Union launched the first regionally focused credit union in Alberta in 2015 through the amalgamation of Chinook Financial and First Calgary Financial.
    Since then, the credit union has posted record earnings, increased its technology offering and profit sharing with members, and expanded its regional model through its most recent amalgamation with Legacy Savings.
    The two credit unions jointly represent more than 120,000 members and over 700 employees in 44 different locations across Central and Southern Alberta. With approximately $6.7 billion in assets under management, the amalgamated credit union would be Canada’s 7th largest credit union.
    The amalgamated credit union will operate under the legal name of Connect First Credit Union Ltd, with four member facing brands: Chinook Financial, First Calgary Financial, Legacy Financial and Mountain View Financial.
    About Mountain View Credit Union – Mountain View Credit Union operates 13 branches in Central Alberta and has assets under administration of $852 million.
    Mountain View is headquartered in Olds and employs 125 people. The credit union has grown from humble beginnings in Cremona in 1943, to deliver a full range of products and advisory services to more than 17,500 members today. As a member-owned organization, profits are shared with the members. Since 1988, the credit union has paid more than $23 million in profit sharing.
    About Connect First Credit Union – Connect First Credit Union offers its members a full range of financial products and services through trusted local brands and a community focused approach to banking.
    We are proud to employ over 600 Albertans. Connect First is Canada’s 10th largest credit union, with over $5.8 billion in assets under administration.
    It serves 104,000 members through 29 locations in 14 communities across southern Alberta, under the brands: First Calgary Financial, Chinook Financial and Legacy Financial.

    1000 multi-facility passes have been bought for $2 each after an anonymous donor wanted to give back to the community.
    On Monday, January 15, an individual who wishes to remain anonymous, presented to council they would like to contribute back to the community in the form of a community donation. They were able to purchase 1000 Multi-Facility Drop-in Passes at a reduced rate to distribute to members of the community, including elementary and high schools in the area, as discussed in a previous presentation to council.
    “They had experience doing some of the things at other communities and they felt that it was a good way to give back to the community so we worked with that donor to come up with some sort of structure to the program,” said Paul Salvatore, Director of Community Services for the Town of Drumheller.
    Administration has begun establishing a system to track the passes as they are redeemed and report back to both the donor and council on the uptake and increase of pass usage.
    The town believes this is a good way to gain exposure and hopefully net some new clientele for the Aquaplex and Badlands Community Facility (BCF).
    “From the town’s point of view, we think it’s a good thing to get more people in to our facility,” began Salvatore. “It won’t necessarily generate additional revenue for us but it will get more people in to our facilities because it is important to keep our facilities busy and making sure people are as active as possible. Depending on what situation people might be in, this will help them get on a positive level as far as health and fitness are concerned,” said Salvatore.
    A timeline for the program’s start date is still being discussed but it is expected to be sooner rather than later.
    “We’ll try to make it happen as soon as we can,” said Salvatore.
    Both parties are delighted to give the community a cheap option for fitness, especially for youth.
    “We’re very proud of the facilities that we operate in the Town of Drumheller and we’re very happy to provide an expanded level of access through an anonymous donor in addition to some of the other programs that we offer through our fee assistance program. We want to make sure we’re giving people an opportunity to get out and get active,” said Salvatore.