Members of the Mount Lehman Credit Union voted to merge with Gulf and Fraser Fisherman’s Financial Group, based in Burnaby.
The merger took effect on January 1.
Members of the MLCU Board of Directors made the decision to continue a partnership with G&F Financial Group in January 2021, and a membership vote was held from November 30 to December 21.
The results of the vote saw 88.1 percent of voting members agree to the merger. The MLCU is located at 5889 Mount Lehman Road.
âThe Mount Lehman Credit Union has been proud to serve our local community for almost 80 years,â said Chris Bodnar, Chairman of the Board of Directors of the MLCU. âWhile the size may be relative, we know that partnering with a like-minded local credit union is now in the best interest to meet the future needs of our members, employees and community. “
The MLCU now joins a group that also includes Aldergrove Credit Union and VP Credit Union. The merger with ACU took place on August 1 and VP Credit Union took effect on January 1, 2022.
They will all operate under the name G&F Financial Group. The combined network of four organizations now spans 28 branches and four insurance agencies. Membership now has over 58,000 members, spread across the Lower Mainland and Fraser Valley. Total combined assets under administration will be approximately $ 4.9 billion.
For more information, visit gffg.com.