Member Vote

Media Release

For Immediate Release

Better Together Members of Cornerstone, Horizon & Plainsview Credit Unions Vote in Favor of Credit Union Merger

SASKATCHEWAN, June 22, 2020 – The membership of Cornerstone, Horizon and Plainsview Credit Unions provided overwhelming support in favor of a merger to partner together as a single credit union to drive benefits for members, employees and communities.

Voting took place through an online and in-branch vote during the week of June 15 -19. The resolution was passed with 94% of the members that voted in favor from Plainsview, 88% in favor from Cornerstone and 92% in favor from Horizon.

Fintan Ryan, CEO of Plainsview Credit Union, “We want to thank all our members for the participation and support through the consultation and voting process. Our members are the reason we exist, and it was their voice and their vote that enables us to proceed to build a stronger credit union. This merger presents a significant milestone for the future of our credit union.”

The new credit union will become the 4th largest in Saskatchewan with approximately $1.72 billion in assets, serving over 35,000 members in 23 communities throughout Saskatchewan and will employ approximately 285 people.

The shared future vision of the three credit union partners is a new credit union that is operationally competitive and differentiated through its commitment to member wellbeing via trusted advice and service as well as concern for community. This new credit union will be more sustainable and better able to leverage opportunities and manage risks in the ever-changing financial services market.

The new credit union will present benefits to all stakeholders: members, employees and communities. Over time, the goal is for members to benefit through greater access and convenience, better advice, products and services along with improved technology. Employees will benefit from having a broader network, expanded career opportunities and improved work experience through increased effectiveness and better technology. This opportunity will help ensure we can continue to support communities whether financially, as volunteers or with effective ways to provide advice and service into the future.

Over the coming months, we are excited to begin the significant undertaking of bringing our three credit unions together. We are committed to keep the lines of communication open as we work through that process. In the meantime, it’s business as usual. We continue to focus on providing the best advice and service to our members.

About Cornerstone:

Cornerstone is the 5th largest credit union in Saskatchewan with approximately $1.2 billion in total managed assets, employing 180 people. Cornerstone Credit Union is a full-service financial institution dedicated to serving over 24,000 members with 9 branches serving the communities of Archerwill, Ituna, Kelliher, Rose Valley, Saltcoats, Theodore, Tisdale, Wynyard and Yorkton.

About Horizon:

Horizon Credit Union is the 14th largest credit union in Saskatchewan, serving 5,125 members with 46 employees. Horizon has approximately $220 million in total managed assets with 5 branches serving the communities of Melville, Grayson, Neudorf, Grenfell and Wolseley.

About Plainsview:

Plainsview Credit Union is the 11th largest credit union in Saskatchewan, serving 6,500 members with 60 employees. Plainsview has approximately $300 million in total managed assets with 9 branches serving the communities of Arcola, Kipling, Glenavon, Vibank, Montmartre, Odessa, Indian Head, Emerald Park/White City and Govan.

For more information about this initiative, please visit www.bettertogetherinSK.com.

Member Vote- Now Closed

Thank you to our members who took the time this past week to on our porposed merger with Cornerstone Credit Union and Horizon Credit Union. The results from the vote will be posted on Monday, June 22nd.


The merger vote was conducted electronically. Eligible members were able to vote anywhere, anytime during the voting period from any device connected to the internet. The Credit Union provided connected devices in branch locations (during business hours) to enable those members who wish to vote in branch the opportunity to do so.

How does electronic voting work?

· In order to vote, eligible members will be asked to validate themselves using two sources of information as follows:

  •  Date of birth (dd/mm/yyyy)
  • The last 4 digits of their social insurance number

· Once the member has been validated, they will be able to vote.

· Once their vote is cast, they are asked to validate their vote and then submit.

What is the eligibility to vote?

In order to vote, you must meet the following criteria:
  • You must hold a valid membership with Cornerstone, Horizon or Plainsview Credit Unions
  • You must be sixteen (16) years of age or older.

Can I vote in branch?

Yes, you can visit any branch location during regular business hours to vote. The voting period is Monday, June 15th at 7:00pm to Friday, June 19th at 3:00pm.

How does my business vote?

Affidavit of Voting Rights - In accordance with Section 86(2) of The Credit Union Act, 1998, businesses or corporations are able to authorize and appoint a delegate for the purpose of voting in the 2020 Membership Vote on the amalgamation of Cornerstone, Horizon and Plainsview Credit Unions.  The membership vote takes place from Monday, June 15 at 7:00pm and closes Friday, June 19 at 3:00pm.  In order to vote, the deadline to submit the completed Affidavit form is Wednesday, June 17 at 3:00pm.

When will the results of the vote be announced?

The results of the vote will be announced on Monday, June 22, 2020.


Amalgamation Agreement Expand/Collapse

The Amalgamation Agreement describes the terms upon which Cornerstone, Horizon and Plainsview Credit Unions agree to amalgamate as one credit union under the provisions of The Credit Union Act, 1998.  The Amalgamation Agreement includes the names of the directors, the auditor, the date of amalgamation, the name of the amalgamated credit union and other important terms of the amalgamation.

Articles of Amalgamations Expand/Collapse

The  are the initial charter of the merged Credit Union outlining the name chosen, membership criteria, and number of Directors among other things.

Bylaws for the Amalgamated Credit Union Expand/Collapse

The Bylaws describe the rules by which the merged Credit Union will operate.  Bylaws include operating rules for directors (number of directors, representation, qualifications, elections, terms of office, etc), membership meetings, membership rights, allocation of surplus and more.
 
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