We’ve merged!
Exciting things are happening as we integrate Prospera and Westminster Savings, the largest merger in Canadian credit union history.
Effective January 1, 2020, Westminster Savings and Prospera Credit Union have officially merged. As a result of the merger, the two predecessor credit unions will be one legal entity, Prospera Credit Union.
Minimizing member change and disruption is our top priority. There will be no immediate changes to accounts or banking information.
We’re starting to create a fresh new look!
The excitement continues in 2020 as we officially kick off our work to build a new brand for the newly merged credit union. Our process will involve connecting with many employees and members across our regions over the months ahead and we look forward to rolling out our fresh new look and brand for Prospera Credit Union later this year.
As we work on developing and creating our new brand, you’ll continue to see the existing logos of each legacy credit union. Just as a reminder, during this time, all members can continue using your existing cheques, debit cards and Collabria credit cards, and can continue to expect your existing products and services to function as they have in the past with no disruption.
Our new brand will be integral in helping us move towards building a stronger credit union for our new and existing members, our employees and the communities we serve. Our new look will embody our core values and priorities as we come together with the intention of delivering all the benefits our members are looking for and more.
A Stronger Future as Prospera Credit Union
Our merger gives us the opportunity to provide our members with:
- Improved, more affordable banking
- Enhanced online and mobile banking experience
- Increased support for local business
- More meaningful community investment
- Expanded career opportunities and contemporary work arrangements
What you need to know
To limit disruption to members, banking information will remain the same for the present
- Over time, we will integrate our banking systems and operations so that all members can transact at any of our 29 branches. In the meantime, members can continue to use their respective locations to conduct transactions.
- ATMs at all our locations are on the Ding Free® Exchange network, so members can use ATM services at any location for deposits and withdrawals with no additional fees.
- Members will continue to use their current online banking logins and mobile apps:
Branch Network
In the future, you will have access to 29 branches from Vancouver, through the Fraser Valley and into the Okanagan.
Frequently Asked Questions
Q: Will members need to do anything when the credit unions merge on January 1, 2020?
A: No. Both Prospera and Westminster Savings agree that minimizing member change and disruption will always be a top priority. As integration progresses, members will be regularly advised of any upcoming changes.
Q: As a Prospera/Westminster member, can I go into a Prospera/Westminster Savings branch on January 1 and conduct transactions?
A: No. We understand that this is an important consideration for some of our members, especially those who live in an area where there is no Prospera branch location. However, moving accounts will not be possible for Day 1. Until our banking systems are aligned, members must continue to use their respective branch locations. As we continue to work through the integration process, we will inform our members of these important changes.
Q: Will my branch close?
A: The two credit unions’ current service areas are geographically complementary with only a couple of locations where branches are close to each other. As transaction volumes and branch needs shift, both organizations regularly review existing branch footprints, needs, and opportunities.
Q: Will the same people be handling my account?
A: In most cases, there will be no immediate changes for members. In the few cases where change does occur, we are committed to providing the responsive, high-quality service you expect, and be available to discuss the change with you. We are doing everything we can to ensure minimal disruption to your member experience.
Q: Who will be the new CEO?
A: Gavin Toy, currently the CEO of Westminster Savings, will be the President & Chief Executive Officer of the merged credit union. He offers nearly 25 years working for two prominent member-based organizations and has a deep commitment to delivering member value. One of his priorities is building an organizational culture that provides members with an excellent customer experience and employees with a workplace that is highly engaging. He is supported by a strong Board and Executive Leadership Team selected from both Westminster Savings and Prospera.
About Us
Together, we are a cooperative that measures its success by the financial success of our members.
For over 75 years, Prospera Credit Union has been a successful financial institution because of an unwavering focus on meeting the needs of our members, providing fulfilling careers for employees, and for giving back to the communities we serve. The result of a merger between Prospera Credit Union and Westminster Savings Credit Union, we are a community-based, purpose-driven organization that is committed to being a true financial partner to our local business members.
Established January 1, 2020, with roots that go back to 1943
Sixth-largest Credit Union in Canada
Approximately 120,000 members
Approximately $9 billion in assets
Head office in Surrey, BC
Approximately 900 employees
29 branches, from Vancouver through the Fraser Valley to the Okanagan
Charitable Foundations include the Westminster Savings Foundation (assets: $9 million)
Meet the Executive Leadership Team
Gavin Toy
Greg Oyhenart
Brian Rogers
Greg Dyck
Mary Falconer
Maury Kask
TJ Schmaltz
Meet our Board of Directors
We’re climbing to new heights. Come join us.
Westminster Savings and Prospera Credit Unions have joined forces and there are lots of reasons to join our team including:
- Competitive compensation and benefit programs
- Development and growth opportunities
- Great Place to Work certified
- Locations that span the Fraser Valley, Greater Vancouver, and Okanagan
To find out more about our career opportunities, check out the careers links below:
Contact
We’re here to help answer any questions you have about the merger or merger process. Please contact your credit union directly or stop by your local branch.
Westminster Savings Credit Union Members
[email protected]
In the Lower Mainland: 604-517-0100
Toll Free: 1-877-506-0100
Prospera Credit Union Members
[email protected]
Toll-Free: 1-888-440-4480