Integris and Coastal Community Join Forces to Create Largest BC Credit Union

Integris Credit Union members have voted overwhelmingly in favor of merging with Coastal Community Credit Union, marking a significant development in the financial landscape of British Columbia. This decision concludes a year-long process that started with a memorandum of understanding in March and culminated in regulatory approval from the BC Financial Services Authority in September. The merger, effective January 1, 2024, will result in the formation of one of the largest credit unions in the province, serving over 110,000 members.

Details of the Merger

In a recent press release, Kent Jesse, president and CEO of Coastal Community, emphasized that although the two organizations will merge into a single entity, both brands will maintain their identities. “We’re excited to welcome the Integris members, staff, and communities into the Coastal Community family,” Jesse stated. He further reassured members that they would continue to enjoy the benefits associated with both brands while receiving enhanced financial services.

Integris operates two branches in Prince George—one located at Fifth Avenue and Central Street and another at the Riverpoint shopping complex on Ferry Avenue and Highway 97. In contrast, the Nanaimo-based Coastal Community Credit Union does not currently have a presence in Prince George. Upon completion of the merger, the combined institution will employ approximately 800 people, operate 32 branches, and manage about $5.6 billion in assets.

Leadership Perspectives

Leaders from both organizations expressed optimism about the merger’s potential to enhance community-focused financial services. Dominique Roelants, board chair of Coastal Community Credit Union, noted, “The successful vote to bring Integris and Coastal Community together demonstrates support for a stronger, values-driven credit union with even greater benefits for members.”

Echoing this sentiment, Alexandra Goseltine, board chair of Integris, reflected on the considerable efforts that led to the merger’s approval. “After a very busy year working diligently on the merger, it is exciting to have member support on the separate and special resolutions,” she said. Goseltine expressed gratitude to the members for endorsing the board’s vision and recognized the board’s critical role in guiding the entire process.

Alison Hoskins, CEO of Integris, described the member vote as a significant milestone. “It has been an incredible journey to go from early discussions and the MOU signing to finalizing the merger with the Integris member vote,” she stated.

The next phase involves creating a detailed strategic and operational plan to guide the phased integration of systems and services. Until the merger is finalized, both credit unions will continue to operate independently, ensuring minimal disruption for their members. Updates regarding the merger will be communicated through the website DoingMoreTogether.ca and each credit union’s official channels.

As this merger unfolds, both Integris and Coastal Community aim to strengthen their financial offerings, ultimately enhancing the member experience across British Columbia.