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Synergy and New Community credit unions finalize merger

As of New Year’s Day, Synergy Credit Union of Lloydminster has officially merged with New Community Credit Union in Saskatoon whose members had voted in favour of the union in May 2022.

“Growth is never by accident but by working together and this amalgamation will take advantage of the strengths of both credit unions, especially as we launch new technology this year to support our service channels,”  says Glenn Stang, CEO Synergy Credit Union.

Synergy sees the move as giving them a foothold in Saskatoon, Saskatchewan’s centre of commerce.

New Community Credit Union, now Synergy Credit Union-New Community Branch adds 2,200 voting and non-voting members with over $175 million in assets to Synergy’s current
member base and raises Synergy’s membership to over 29,000.

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“Members in Saskatoon and its environs will now be able to enjoy enhanced services in the largest commercial hub in Saskatchewan,” says Robert Hoesgen, Branch Manager, New Community branch.

Synergy Credit Union is celebrating its 80th anniversary in 2023.

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