DAWSON CREEK, B.C. — The board of directors of both Lake View Credit Union and Integris Credit Union announced today that they have mutually agreed to cease merger talks immediately.
The two credits unions announced back in March that they had entered into discussions about a possible merger. Since then, the two financial institutions said in a press release that they had been carrying out extensive due diligence to determine whether the proposed merger was in the best interests of their stakeholders. The process involved a cost/benefit analysis of bringing the two credit unions together, including the risks.
“Given the opportunities and challenges for both Credit Unions in our current operating environment and the substantial effort that is required to bring our two credit unions together, the boards of both credit unions believe it is in the best interests of our members and employees to pursue independent business strategies at this point in time,” said Joe Judge, Board Chair, Lake View Credit Union.
“This has been a very difficult decision for us to reach, and we sincerely thank our management teams and all employees for their work and extraordinary efforts involved over the past few months,” concludes Dave Barry, Board Chair, Integris Credit Union.
The Lake View Credit Union was founded in Dawson Creek in 1943, and also has branches in Chetwynd and Tumbler Ridge. Integris Credit Union is primarily located within the Central Interior, with branches in Prince George, Quesnel, Vanderhoof, Fort St. James, and Clinton.
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