Conexus, Cornerstone, and Synergy Credit Unions Recommend a Merger to Members

Since November, we have been exploring whether combining our credit unions could bring greater value to you. After thorough due diligence, our boards unanimously approved a business case with one clear priority—you, our members. We have confirmed that a merger will allow us to make the necessary investments to remain strong, competitive and committed to meeting the needs of members both today and for years to come.

Financial services, like many other industries, is challenged by rising costs, new and intensifying competition, economic volatility, and increasing regulatory demands. These headwinds make it harder for each credit union to go it alone while continuing to meet evolving member expectations. With $15 billion in assets under management, this merger will build on the success of our three credit unions, creating a stronger, more resilient financial institution while also staying true to our shared values. 

We are choosing to work together to ensure we remain strong, competitive, and committed to being a local, community focused credit union serving both today’s members and future generations. 

 By merging, we can better: 

• Share profits with members while maintaining competitive rates and fees. 

• Ensure long-term sustainability in a rapidly changing financial landscape. 

• Continue investing in local communities to support a thriving Saskatchewan. 
• Invest in your credit union’s technology so you can bank where, when, and how you want. 

This merger is a proactive step to keep money in our members’ pockets while securing a strong future for our credit union.  

No matter how large a credit union is, we all face similar challenges like rising costs, new and intensifying competition, increasing regulatory pressures, and the need for future investments. Together, we can tackle these challenges more effectively, ensuring a strong and financially sustainable credit union. 

Ultimately, this merger is about building a stronger credit union for everyone involved. By combining our strengths, Conexus, Cornerstone, and Synergy can better serve our members, employees, and communities while staying true to our shared values. 

No matter how much we grow, we will remain a member-owned co-operative financial institution, driven by our values and committed to fostering a thriving Saskatchewan. This is a big part of what makes us different.

We know Saskatchewan and we are a part of the communities we serve. We pride ourselves in being able to make decisions locally to support the needs of our members. Our leadership and governance will remain accessible to the membership. Our members and communities are still at the core of everything we do.

This merger isn’t just about growth—it’s about ensuring a stronger, more resilient credit union that serves members better today and into the future. Together, we’re building something better. 

Following a successful member vote, we will announce the CEO and the new credit union name from one of the three existing credit unions, before we officially become one credit union on January 1, 2026.

Then you will not see any changes until after the new credit union launches. Initially there will be some changes that will happen right away, while others will take more time as we begin to integrate systems, products, and services.

One of our goals in working together is to combine our resources and strategic investments to offer a differentiated and modern member experience, while gaining efficiencies that will benefit everyone. This also means that the new credit union will need to select systems and platforms to invest in. Some members will need to transition to a different online banking platform, for instance. 

Rest assured, any changes to your account or the way you bank will be communicated well in advance, and we’ll be here to support you every step of the way.

While our members will see some differences as a result of a merger, there are some things that will never change.

We will continue to be a member-owned credit union that puts members at the core of everything we do. We will uphold our co-operative values, share profits with our members and invest in our communities. We will continue to offer personalized service, making decisions locally and serving members by those they know and trust. Our combined network also has no overlap, allowing us to be sustainable without closing branches as part of this merger. 

Right now, all three of our credit unions are financially strong. However, the challenges we each face— rising costs, new and intensifying competition, economic volatility, and increasing regulatory demands —aren’t going away. In fact, they continue to grow.

Staying independent means, we would each have to navigate these challenges on our own, which could limit our ability to:

• Share profits with members while maintaining competitive rates and fees.
• Ensure long-term sustainability in a rapidly changing financial landscape.
• Continue investing in local communities to support a thriving Saskatchewan.
• Invest in your credit union’s technology so you can bank where, when, and how you want.
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While we could all continue as we are, imagine the strength and resilience we gain by facing these challenges together—as one credit union. This merger is about securing a stronger future, ensuring we can continue serving you and future generations.

By merging, we’re choosing a proactive path—one that positions us for long-term success while staying true to our co-operative values.

Seeing the economic uncertainty lately actually strengthens our resolve in terms of the importance and the value of this proposed merger. We firmly believe that it is important to create a local, stronger, more resilient Saskatchewan credit union to meet the needs of members and the province, now and into the future.