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Sault-based Northern Credit Union takes next step to merging with Copperfin

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The new entity would retain the Northern Credit Union name, with January 2025 set as the tentative target date for the merger

THUNDER BAY — Two financial institutions based in Northern Ontario have taken a key step toward a merger.

In an announcement Monday, the two credit unions said their boards of directors are recommending a unified board for the new organization that will "meaningfully represent the combined size and scope of both entities." A joint committee that's been working on the merger is also recommending Northern Credit Union as the merged entity's name.

Copperfin CEO Dennis Alvestad said: "We look forward to the upcoming member vote and the prospect of embarking on this exciting new chapter together."

 

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