On August 26, 2020, a Special Meeting of the Members and a Special Meeting of Class B Investment Share Holders was held virtually. These meetings were held to announce the results of the vote for our proposed merger with WFCU Credit Union. In attendance we had 39 members and 3 guests, totalling 42 attendees. We thank all of those who attended this virtual meeting and all of those who took the time to share their voice and participate in our vote.
Education Credit Union is happy to announce that our membership has voted loudly and clearly with over 91% in favour of our union. Our Class B Investment shareholders voted in favour by a 98% margin. Through the dedication of our hard-working team, we have had a historic turnout with our newly implemented online voting process with over 700 members voting online and by proxy. “This fantastic voter turnout demonstrates that our members are engaged and recognize the changing credit union landscape,” said Gary Renouf, CEO of ECU. “The support we received by the membership in pursuing this course of action further strengthens our commitment to move forward knowing we have their support,” say ECU Chair James McCormack. “We appreciate the hard work and dedication of ECU Chair, James McCormack and the Board, CEO Gary Renouf, Management and all ECU Staff to move this forward,” stated Marty Gillis, Chair, WFCU Credit Union Board of Directors. “We are honoured to bring our teams and Memberships together and to provide the best products and services to our regions.”
Education Credit Union has received an overwhelming amount of support from our membership, staff and community throughout this process and looks forward to a bright and exciting new future. “On behalf of WFCU Credit Union I want to express my thanks to the members of Education Credit Union for having the confidence in both Education Credit Union and WFCU Credit Union to proceed with this partnership,” said Eddie Francis, President and CEO, WFCU Credit union. “Our shared vision and motivated desire is exciting, providing the opportunity to come together to strengthen both of our credit union’s cooperative positions. Together we will grow stronger, bringing our members a wider range of market-leading banking options, and further assisting our members in meeting, reaching and exceeding their financial goals.”
We thank you for your continued commitment and support of ECU. If you have any questions, we encourage you to please reach out to any of our staff members or send an email to [email protected].