You Voted Yes! Conexus, Cornerstone, and Synergy Credit Unions Are Merging!
We are thrilled to announce that the member vote on the recommended merger between Conexus, Cornerstone, and Synergy Credit Unions has been a resounding success! This pivotal moment marks the beginning of an exciting new chapter for our credit unions and the communities we serve!
Effective January 1, 2026, our three credit unions will merge to form a new province-wide credit union. The new credit union will be governed by an inaugural board that will include twelve directors comprised of six directors from Conexus and three each from Cornerstone and Synergy Credit Unions.
A successful vote required at least 75% approval from members that cast a vote from each credit union. We are delighted to share the voting results as follows:
- Conexus: 87.5% in favour
- Cornerstone: 86.5% in favour
- Synergy: 88.7% in favour
This overwhelming member support confirms the shared vision and commitment to building a stronger, more resilient credit union that remains member-focused and dedicated to a thriving Saskatchewan.
Inaugural Board of the new Credit Union
The new credit union will be led by a 12-member inaugural board:
- 6 directors from Conexus
- 3 from Cornerstone
- 3 from Synergy
To meet the new Board, view their bios.
Conexus, Cornerstone, and Synergy Credit Unions Recommend a Merger to Members
Conexus Credit Union, Cornerstone Credit Union, and Synergy Credit Union are thrilled to formally recommend a merger to our members!
After thorough due diligence, the Boards of all three credit unions have unanimously approved a business case with one clear priority—you, our members. The business case confirms 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.
The world is changing. Like many industries, financial services face rising costs, new and intensifying competition, economic volatility, and increasing regulatory demands. By coming together, we can navigate these challenges while continuing to offer the service, innovation, and local decision-making you expect. 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.
A Merger That Puts You First!
Our top priority in this merger is you, our members! Pending member approval, here is what this will mean for you:
Modern digital banking experience.
We will prioritize investment in our digital banking, adding new functionality to deliver an experience that is easy, secure, and offers convenient access.
Branch network.
Our combined network has no overlap, allowing us to be sustainable without closing locations as part of this merger. We will serve Saskatchewan with 57 branch locations in 50 communities - giving you more ways to bank where, when, and how you want.
Competitive with low to no-fee options.
We will offer low to no-fee options that are accessible to all while still offering competitive rates and fees.
Profit-sharing with our members.
We will share our profits through a modern rewards program - putting money back in our members’ pocket.
Local service and local decision-making.
Your trusted advisors remain local—local people, serving local members. Decision-making will remain rooted in the communities we serve.
Enhanced lending capacity.
We will have increased financial capacity so as your farm or business grows, we will grow with you!
Specialized expertise.
We will expand access to specialized expertise like wealth management, estate services and mobile mortgage specialists.
Personalized service and modern offerings to meet diverse needs.
Our team will be empowered with the required technology and insights to provide proactive, needs-based advice and solutions tailored to your financial goals.
Our profits stay local.
Our profits stay local, with 5% of pre-tax earnings reinvested into our local communities further strengthening Saskatchewan. We remain committed to making a positive impact through sponsorships, volunteering and community support.
Committed to employees.
The merger will create new opportunities for current and future employees. We’re committed to retain engaged team members, invest in career development, explore new growth potential, and be a top employer in Saskatchewan.
About Us
More about the Partner Credit Unions
About Conexus Credit Union
Conexus was established in 1937 as the Regina Co-operative Savings and Credit Union. In 1945, it became the Sherwood Savings and Credit Union and in 2003, Sherwood merged with Moose Jaw and Assiniboia credit unions to form Conexus Credit Union. In 2006, Conexus merged with Prince Albert, Heartland, and Moosomin credit unions, forming Conexus Credit Union 2006.
Today, Conexus manages $10 billion in assets and has 897 employees serving almost 145,000 members across 30 locations in Saskatchewan. Of these members, over 97,700 are digital banking users.
Our commitment to the community remains unwavering, contributing 5% of our pre-tax dollars back into Saskatchewan. We have placed a strategic focus on multi-year partnerships that allowed us to build long lasting relationships and have a bigger impact in key areas such as education, financial literacy, food security, health services, shelter, and capital projects.
About Cultivator powered by Conexus
Cultivator was built to dismantle barriers faced by innovative Saskatchewan startup tech companies. Cultivator is Canada’s first credit union led tech incubator, helping local startups launch, grow and scale their companies. Since launching in 2019, Cultivator has incubated and provided programming, investors, resources, mentorship and space to 173 companies with over $155 million of private capital raised, 57 female-founded companies supported, and approximately 570 jobs created. Located in Conexus’ head office building in Regina, Cultivator uses 15,000 square feet of the space including working space for founders and teams, a pitch space, and connection to the Darke Hall.
About Conexus Venture Capital Inc.
Conexus Subsidiary
Conexus Venture Capital Inc. was built to fill a funding gap in the local tech ecosystem. In 2017, Saskatchewan startups received less than 0.5 per cent of all venture capital funds deployed across Canada. Knowing our province’s startups were being overlooked, we sought ways to fill this funding gap. Since Conexus Credit Union launched Conexus Venture Capital Inc. in 2019, we have facilitated the investment of $66 million into helping businesses grow, including 13 based right here in the province as a commitment to entrepreneurs and the local economy.
About Thrive Wealth Management
Conexus Subsidiary
Thrive Wealth Management (Thrive) expands our range of services by offering members access to best-in-class wealth management products and services. With a focus on the unique needs and goals of each client, the accredited team of Advisors and Specialists delivers tailored financial guidance with expertise and confidence, managing nearly $2.25 billion in funds, right here in Saskatchewan. Alongside Conexus, Cornerstone Credit Union plays a pivotal role in Thrive’s success, by working closely with the Thrive team to provide exceptional wealth management services for its members.
About Cornerstone Credit Union
Cornerstone is the product of many mergers over the years, with the most recent in 2021 with Horizon and Plainsview credit unions. Operating since 1941, we have a long history of supporting the success of our individual members, farmers and small business owners that continue to thrive in our rural communities. We offer solutions to the challenges faced by farmers, businesses, entrepreneurs, and aspiring tech innovators living and operating in the rural areas we serve.
Cornerstone has over $2.7 billion in assets with 15 branches within East-Central Saskatchewan. Cornerstone Credit Union serves over 30,000 members and has an employee base of 280. We have approximately 18,600 of our members that transact with us through digital banking.
Community investment is rooted in our organization and our culture. More than giving back, we aim to help our communities grow. Cornerstone invests approximately 3% of pre-tax profits back into our communities through donations and sponsorships. This total includes funding to Project Cornerstone, our application-based program to fund capital projects of benefit to the community. In addition, our employees logged over 7,120 hours of their own personal time and countless hours of corporate time volunteering for local community groups, organizations and events.
Rural Tech Activation Initiative
Cornerstone’s Rural Tech Activation Initiative aims to play a pivotal role in driving ag-tech adoption and implementation throughout Saskatchewan’s agricultural sector through a series of initiatives designed to promote education, collaboration, and access to the resources that farmers and agri-business need to succeed. In doing so, Cornerstone aims to empower our farm communities with the knowledge, tools, and support needed to thrive in an increasingly technological and digital environment.
About Synergy Credit Union
Synergy Credit Union’s story began back in 1943, when we opened as Lloydminster Savings and Credit Union Ltd. Right from the start, Synergy was built on co-operative values and the seven co-operative principles—values that still set us apart today. These principles give hard-working people more than just a financial institution; they make our members owners, not just customers. We’re committed to putting them first and supporting sustainable growth in the communities we serve.
On January 31, 2007, our members voted to rename us Synergy Credit Union Ltd., reflecting our commitment to working together for a brighter future and better communities.
Today, we’re a member-owned financial institution serving over 27,000 members across west-central Saskatchewan, with 12 branches and more than 18,500 members who regularly use our digital banking services. As the fifth-largest credit union in Saskatchewan, we have 238 employees and manage over $2.8 billion in assets, standing tall among Canada’s leading credit unions.
Community is at our core. We invest 5% of pre-tax dollars back into local communities through our Synergy Shares program, funding carefully selected (capital) projects that make a real difference now and in the future. On top of that, Synergy returns 20% of pre-tax dollars to members through our Profit Shares Program. In 2023, our team logged an impressive 8,382 volunteer hours—a true reflection of our dedication to the communities we serve.
Locations
Where you can find us.
The new credit union will have branches located throughout Saskatchewan as indicated on the map below. We believe that local credit unions should understand their members and communities better than any other financial institution.
Legend
Synergy
Conexus
Cornerstone
FAQs
Merger Announcement FAQs
Commitment to Members
Commitment to Employees
Commitment to Community
Member Experience and Services
Governance and Leadership
Approvals and Timelines
Timeline
Quotes from current Board Presidents
The new credit union will have branches located throughout Saskatchewan as indicated on the map below. We believe that local credit unions should understand their members and communities better than any other financial institution.
Name, Detail
The new credit union will have branches located throughout Saskatchewan as indicated on the map below. We believe that local credit unions should understand their members and communities better than any other financial institution.