FAQs
Governance and Leadership
The new credit union will continue to be governed by a Board of Directors. The inaugural Board will include 12 Directors selected from the three existing credit union Boards based on experience, skills, competencies and diversity. The new Board will be comprised of:
- 6 directors from Conexus
- 3 from Cornerstone
- 3 from Synergy
The merger of Conexus, Cornerstone and Synergy Credit Unions requires a unified identity. A single name will represent the new organization and support brand consistency across Saskatchewan.
The three Boards decided early on that the new credit union would adopt the name of one of the three partner credit unions. To support this decision, a third-party research firm conducted brand name research to assess the name strength and familiarity across the province that would best serve a provincial credit union.
Credit unions in Saskatchewan are required to have a registered office in Saskatchewan. The Board of the credit union may change the address of the registered office at any time.
Due to the convenience of its location, Conexus’ current corporate office in Regina will be the registered office to meet the requirements of the Credit Union Act. This office is located at 2375 College Avenue, Regina.
The merged provincial credit union is intended to operate on a distributed basis without a formal “head office,” enabling executives and other employees to continue contributing to the merged credit union without the need to relocate.
The research included participants from both member and non-member groups across Saskatchewan, ensuring a balanced representation by age, gender and geographic region. Additional sampling was conducted within the specific trading areas of each credit union to capture localized insights.
Key metrics assessed in the study included:
- Unprompted name recall
- Brand familiarity
- Likelihood of considering the brand for banking
- Identification of the brand as their primary financial institution
- Willingness to recommend the brand
- Overall brand perception
The Conexus Credit Union name demonstrated the strongest brand equity both provincially and locally, offering strategic advantages in recognition and future brand-building. All three brands were positively received, and no negative indicators emerged. The recommendation is based solely on relative brand strength.
The final decision on the name for the new credit union was made by the Boards of Directors of Conexus, Cornerstone and Synergy Credit Unions.
While the new credit union will carry the name Conexus, the full brand—including the logo, visual identity, and overall look and feel—is still to come. This future brand refresh will thoughtfully reflect the legacy and values of all three founding credit unions: Conexus, Cornerstone and Synergy. That work will be part of the broader integration planning process.
The new name will officially take effect on January 1, 2026. While the legal name change happens on that date, the transition will be phased in over time. This means you may continue to see the current names on buildings, signs and materials as we work through updates across all locations and platforms. Prioritizing these changes will be part of the integration planning.
The new name will officially take effect on January 1, 2026. While the legal name change happens on that date, the full integration of the three credit unions will be phased in over time.
The three credit unions will spend the rest of 2025 planning for integration. Any changes related to your account, such as debit cards, account numbers, or online banking services, will be communicated well in advance. Members will see few changes effective January 1, 2026. We are committed to making the full transition as smooth as possible and will support you every step of the way.
Conexus is currently a provincial credit union, serving over 145,000 members from Coronach to La Ronge.
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 Saskatchewan generations.
This new credit union will have 57 branches in 50 communities spanning as far north as La Ronge, south to Coronach and Arcola, east to Moosomin, and then west to Lloydminster. Your trusted advisors remain local—local people, serving local members. Decision-making will remain rooted in the communities we serve
To ensure a thorough and impartial selection process, the Boards engaged an independent executive recruitment firm to assist in the CEO selection. Just like the process we followed to select the new credit union’s name, this was a joint decision made by all three Boards—together.
Both Doug Jones and Trevor Beaton have played important roles in leading their respective credit unions and guiding us through this merger. They will continue in their current roles as CEO until December 31, 2025. No other decisions have been made at this time.
This is a partnership, and we are building something new. The Boards of Directors from all three credit unions worked collaboratively and equally throughout the process.
When it came to selecting the name and CEO for the new credit union, the Boards used independent third-party assessments to help guide their decisions. After careful consideration, they unanimously agreed on the name Conexus Credit Union and appointed Celina Philpot as CEO—both choices made with the best interests of all members across Saskatchewan in mind.
While the name and CEO come from one of the partner credit unions, the decisions were made with a focus on what would best position the new organization for long-term success. As we move forward, the three credit unions will continue to work collectively together to build the new credit union.
The inaugural Board of Directors of the new credit union will be comprised of directors from each of the existing three credit unions. The new board will consist of six board members from Conexus and three directors from each of Cornerstone and Synergy Credit Unions. The inaugural Chair and Vice-Chair will be selected during a meeting of the inaugural Board at a future date.
Many of the inaugural Board Members have valuable experience with credit union mergers. Specifically, the Board Members from Cornerstone and Synergy have successfully completed mergers within the last five years.
Additionally, while not specific to credit unions, some Conexus directors have significant experience with business and co-op acquisitions and consolidations. The diverse expertise ensures that the Board is well equipped to navigate the complexities of a merger effectively.
The inaugural Board of Directors consists of the following:
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Conexus |
Cornerstone |
Synergy |
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Adam Hicks Ken Kosolofski Jessica McNaughton Tim Otitoju Kathryn Pollack Pam Skotnitsky
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Ty Kehrig Heidi Schofer Lyle Weichel
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Melanie Bonnah Neil Carruthers Don Wheler
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Merger Announcement FAQs
Conexus, Cornerstone, and Synergy credit unions are merging to form a stronger, more resilient credit union, effective January 1, 2026.
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, local decision-making and community engagement you expect.
This 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.
Yes. Members from all three credit unions voted in favour, with each credit union surpassing the required 75% approval threshold. Here are the voting results:
- Conexus: 87.5% in favour
- Cornerstone: 86.5% in favour
- Synergy: 88.7% in favour
This is a requirement of the Saskatchewan Credit Union Act and upholds the cooperative principle that credit unions are democratic organizations controlled by their members.
Each credit union met the quorum requirements, that was specific to each credit union, at their Special Meeting to kick off the vote. For the merger to be approved, each credit union required a 75% approval vote in favour, from those members that voted. A comprehensive member outreach campaign was conducted to ensure members were well informed about the merger and their right to vote.
With a combined $15 billion in assets under management, the new credit union will serve more than 200,000 members, through 57 branches in 50 communities with 1,400 employees throughout Saskatchewan. This merger builds on the success of these three credit unions while staying true to their shared values and will create one of Canada’s leading credit unions.
Our combined network of 57 branches across 50 communities has minimal overlap, enabling us to maintain sustainability without the need for branch closures as part of this merger.
We are excited to leverage the talent we have in our existing credit unions! While there may be some changes to roles and structure through the integration process, we are committed to retaining all engaged employees who want to remain part of the new credit union. Any changes in roles or responsibilities will be managed fairly and transparently. This is the right thing to do.
No immediate changes will happen. You’ll continue to bank as usual while we gradually integrate teams, systems, products, services, and other operations.
Absolutely. We’re committed to transparency. If there are any changes to your account or how you bank, we’ll communicate well in advance and support you through the transition.
Not yet. Each credit union will continue to operate independently until the end of the year. After that, we’ll provide more information on when you’ll be able to access services through the newly merged credit union.
No, nothing is changing right now. The three credit unions will remain separate until January 1, 2026, and we cannot view or access your accounts at the other institutions until integration is complete. You’ll continue to manage your accounts just as you do today. As we begin to integrate our teams, systems, products, and services, we’ll keep you informed well in advance of any changes.
Commitment to Members
We believe that by working together we will create a stronger, more resilient credit union that remains member-focused and upholds our shared values. Pending member approval of the merger, members can expect:
- 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’ pockets. - 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 service and management, 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.
Commitment to Employees
The combined credit union is committed to fostering a high-performance culture centred on our members and driven by innovation. We expect this will be achieved through exciting learning and career opportunities for employees. The new credit union is committed to:
- Retain all engaged employees who want to be part of the new credit union.
- Invest in employee learning and career development.
- Provide new opportunities for our team members.
- Strive to be a top employer in Saskatchewan.
- Foster a diverse, inclusive and flexible workplace that supports a positive and healthy work-life balance.
There will be some changes to roles and structure through the integration process. However, we are committed to retaining all engaged employees who want to be part of the new credit union. Any collaboration must leverage the talent we have in our existing credit unions, and any changes in roles or responsibilities will be managed fairly and transparently. This is the right thing to do.
Commitment to Community
We will be a catalyst to drive economic growth in Saskatchewan. Our profits will 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. We will help Saskatchewan thrive!
Your community voice will be heard by the new credit union the same way as it is today, through the Board of Directors. The Board is elected by members and is accountable to members and the communities it serves. Your trusted advisors will remain local with decision-making remaining in the communities.
Member Experience and Services
Our combined network of 57 branches in 50 communities has no overlap, allowing us to be sustainable without closing branches as a part of this merger.
As a part of our operations, we regularly review all channels (ATM, digital, contact centre, branches, etc.) to ensure we are evolving with our members’ needs.
As we transition to one entity, you can be assured we will be here supporting our members every step of the way as we always have.
Any changes related to your account, such as a new debit card, account number, or online banking services, will be communicated well in advance. We are dedicated to making any necessary transitions as smooth as possible and will support you every step of the way with early and transparent communications.
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 our members, employees, and the amazing communities we serve across Saskatchewan.
This also means that the new credit union will need to select one platform to invest in. Some members will need to transition to a different online banking platform.
We will support those members every step of the way and prioritize investment in our digital banking, adding new functionality to deliver an experience that is easy, secure, and offers convenient access.
The new credit union will offer low to no-fee options that are accessible to all while still offering competitive rates and fees. We know that this is important to our members, so the new credit union is committed to providing options.
Once the new credit union is established, we will offer low to no-fee options that are accessible to all. Cornerstone Credit Union, on its own, will not offer a No Fee Account.
We understand the value of personal relationships and trusted advice. If you already work with advisors at multiple credit unions, that’s a great advantage—you’re familiar with the strengths each of us brings. Through this transition, you’ll continue to work with your trusted advisors. Our teams will support you every step of the way to ensure a beneficial experience going forward.
The three credit unions will spend the rest of 2025 planning for integration. It is unlikely members will see immediate changes and when we are ready and confident to start transition with our members, we will be with you every step of the way.
Each credit union will continue to operate independently until the end of the year. After that, we’ll provide more information on when you’ll be able to access services through the newly merged credit union.
Today, only Conexus Credit Union offers this product. Through integration, the new credit union will offer this option to all members.
As a member-owned co-operative, the new credit union will remain committed to sharing our profits through a modern rewards program – putting money back in our members’ pockets. It will be up to the new Board and management to define how it will be delivered.
Your trusted advisors remain local—local people, serving local members. Decision-making will remain rooted in the communities we serve.
Our combined branch network will have 57 branches serving 50 different communities, giving you more ways to bank where, when, and how you want. In addition, we will expand access to specialized expertise like wealth management, estate services and mobile mortgage specialists.
Approvals and Timelines
To move forward with the merger, two key approvals are required:
- Member Vote: Each of the three credit unions must have 75% of their voting members vote in favour of the merger. This has been achieved.
- Regulatory Approval: We need consent from the provincial regulator and clearance from the Competition Bureau. We’ve already received clearance from the Competition Bureau.
The effective date for the new credit union is January 1, 2026.