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Beaumont Credit Union and River City Credit Union Members Support Amalgamation Vote

Sep 13, 2018
Beaumont, AB – At Special General Meetings held on September 10 & 12, the memberships of Beaumont Credit Union and River City Credit Union, respectively, voted in favor of a special resolution, which will see the credit unions amalgamate effective November 1, 2018, subject to regulatory approvals, and operate as ABCU Credit Union, with David Williamson continuing the leadership as CEO of the new entity.
 
“This amalgamation enables two legacy credit unions to continue serving their membership base but as a larger, more diverse credit union with deeper reach, wider benefits and immediate value for our nearly 10,000 members,” said Board Chair Robert (Bob) Robinson. “Both Boards recognized that this structure would create greater management expertise to lead our credit unions into the future. The industry continually evolves at a rapid pace and we are confident that we are stronger together,” added Robinson.
 
River City Credit Union Board Chair, Rick Colwell states “we are confident that our members will appreciate the positive addition of a wider range of services and products, including Wealth Management and Business Services, right here in our communities. Sharing resources and expertise is the new way forward in a collaborative business landscape.”
 
The new Board will consist of nine elected representatives five from Beaumont Credit Union and four from River City Credit Union. They are Alice Chalifoux, Roy Eckert, Adam Guiney, Jim Higginson and Robert (Bob) Robinson, Rick Colwell, Sandra Giesler, Kevin Moore and Brent Trombley.

For more information about the amalgamation, visit www.members-first.ca.

About ABCU Credit Union – ABCU Credit Union is made of two legacy credit unions, Beaumont Credit Union and River City Credit Union, and manages $325 million in assets. The newly formed credit union has two branches and two micro-branches and employs nearly 50 people to serve nearly 10,000 members. These community credit unions have been providing banking services and choice to their membership in Beaumont and Edmonton as far back as 1938.
 
About Beaumont Credit Union – Beaumont Credit Union operates one branch in Beaumont and has assets under administration of $232 million. Beaumont’s head office is located in Beaumont and employs 30 people. Beaumont has been providing user-friendly business and personal banking services to the Beaumont community since 1946.

About River City Credit Union – River City Credit Union operates one branch and two microbranches
in Edmonton and has assets under administration of $93 million. River City’s head
office is located in Edmonton and employs 17 people. River City’s roots stretch back to 1938
when the first of three credit unions, which now make up River City was formed. Edmonton Civic
Employees Credit Union and Edmonton Transit Credit Union merged to become River City
Credit Union in 2003. River City Credit Union merged with University Hospitals Staff Credit
Union in 2016 and retained the name River City.