Canada Safeway Limited Employees Savings & Credit Union (Safeway Credit Union) and Servus Credit Union are pleased to announce that the Safeway Board of Directors has selected Servus as a potential merger partner.
The Safeway Board of Directors and management team were looking to the future of the credit union and meeting the long term needs of their members. They determined that their members would be best served by partnering with another credit union.
The Safeway Board conducted a thorough process of discovery to identify a preferred partner. Based on the benefits Servus can provide to Safeway members and employees, the Board selected Servus Credit Union as a potential partner.
A merger is subject to approval by Safeway members and the regulator. Further due diligence is now underway. The tentative date for a merger is May 2018, with all timing still to be confirmed.
We will provide further information as details are approved.