Three Saskatchewan credit unions recommend historic merger to members
Conexus, Cornerstone and Synergy credit unions propose a major merger that would create the largest credit union in Saskatchewan.
A major milestone in Saskatchewan’s financial landscape is underway as Conexus, Cornerstone, and Synergy Credit Unions officially recommend a merger to their members, following unanimous approval by all three Boards. If approved, the move would create Saskatchewan’s largest credit union—and one of the largest in Canada—with more than $15 billion in assets under management and over 200,000 members.
The recommendation follows months of collaboration under the "Together for a Thriving Saskatchewan" initiative and marks the transition from the exploratory phase to the official recommendation stage.
The proposed merger is driven by shared goals: investing in local communities, improving digital banking services, enhancing lending capacity, and sustaining local decision-making—all without closing any existing branch locations. The new organization would operate 57 branches across 50 Saskatchewan communities.
A member vote is expected in June. If successful, and pending regulatory approval, the newly merged credit union would officially launch on January 1, 2026.
“This merger puts members first,” said Celina Philpot, CEO of Conexus Credit Union with the announcement Apr. 8. “We are excited about what a merged credit union with $15 billion in assets under management and 57 branches in 50 communities means for our members. Our team will be empowered with the required technology, modern products and insights to provide proactive, needs-based advice tailored to your financial goals. Your vote matters! Let’s move ahead together.”
The credit unions have released a set of ten commitments to members, including improved digital services, profit-sharing through a rewards program, low-to-no fee banking options, and an emphasis on keeping profits and decision-making local. Employees are also a priority, with a commitment to job retention and professional development.
“The world is full of uncertainties, many of which are beyond our control, yet they significantly affect us – whether through global politics, economic shifts or rapid technological advancements that reshape competition. By joining forces, we will be better equipped to navigate unforeseen challenges and seize new opportunities than we would be on our own,” said Trevor Beaton, CEO, Synergy Credit Union.
Members are encouraged to learn more and participate in the upcoming vote to help shape the future of their credit union.
“Our members care deeply about their credit union and their community. We believe that partnering is the right choice. A merged credit union will amplify the positive benefits for both members and our communities, with profits staying local,” said Doug Jones, CEO at Cornerstone Credit Union. “Ultimately, this merger is about building a stronger credit union for everyone involved.”
More information is available at thrivingtogethersk.ca.