Meridian and Desjardins Credit Union members have voted in favour of amalgamating under the Meridian banner.
In order for the merger to pass, two-thirds of the votes cast by all three voting parties had to be in favour of the amalgamation.
Meridian Board Chair Don Ariss says they are extremely pleased with the outcome of the votes.
Ariss says the amalgamation will result in a stronger credit union that will better meet the needs of our current and future Members.
The new merged Credit Union will go into effect on June 1st, 2011.
It covers a number of local credit union offices ( both Meridian and Desjardin branches ) including those in Port Elgin, Kincardine, Hanover, Walkerton, Owen Sound and Collingwood and Wasaga Beach.
Meridian will be the largest credit union in Ontario with 263,000 Members and $8 billion in assets under management.
The amalgamation includes Desjardins Credit Unions 19 branches, Central Loans Processing Unit and Head Office.
A full conversion of the Desjardins Credit Union operations will take place throughout the next 12 months.
