Amalgamation Plans



Mountain View Credit Union and Connect First Credit Union announce plans to pursue

amalgamation.

Calgary, AB ‐ Two of Alberta’s largest credit unions have announced plans to pursue a
business case to amalgamate and form a regionally focused credit union.

“Our credit unions share a rich history of strengthening rural Alberta communities,” said
Paul Kelly, Connect First Credit Union CEO. “We believe together we can deliver more
value and benefits for our members and our employees”.

“The timing is right to explore how we can become even better for Mountain View
members and employees by joining Connect First Credit Union’s innovative operating
model,” said Mountain View CEO Bob Marshall.

Connect First Credit Union was the first to launch a regionally focused credit union in
Alberta in 2015 through the amalgamation of Chinook Financial and First Calgary
Financial. Since then, the credit union has posted record earnings, increased its
technology offering and profit sharing with members, and expanded its regional model
through its most recent amalgamation with Legacy Financial.

The two credit unions jointly represent more than 120,000 members and over 700
employees in 44 different locations across Central and Southern Alberta. With
approximately $6.7 billion in assets under management, the amalgamated credit union
would be Canada’s 7th largest credit union.

Paul Kelly will remain the Chief Executive Officer of the amalgamated Connect First
Credit Union. Bob Marshall will be the Chief Operating Officer.

The amalgamated credit union will operate under the legal name of Connect First Credit
Union Ltd, with four member facing brands: Chinook Financial, First Calgary Financial,
Legacy Financial and Mountain View Financial.

The amalgamated credit union believes strongly in the vision that launched the credit
union service organization called InStride, and hopes to remain an active owner in this
strong partnership.

About Mountain View Credit Union – Mountain View Credit Union operates 13
branches in Central Alberta and has assets under management of $852 million.
Mountain View is headquartered in Olds and employs 125 people. The credit union has
grown from humble beginnings in Cremona in 1943, to delivering a full range of
products and advisory services to more than 17,500 members today. As a memberowned
organization, profits are shared with the members. Since 1988, the credit union
has paid more than $23 million in profit sharing.

About Connect First Credit Union – Connect First Credit Union offers its members a full
range of financial products and services through trusted local brands and a communityfocused
approach to banking. We are proud to employ over 600 Albertans. Connect
First is Canada’s 10th largest credit union, with over $5.8 billion in assets under
management. It serves 104,000 members through 29 locations in 14 communities
across southern Alberta, under the brands: First Calgary Financial, Chinook Financial and
Legacy Financial.


For more information regarding the amalgamation, please visit www.betterforourmembers.com

 
Ownership-It Works!