Collaboration MB

Assiniboine Credit Union / Caisse Assiniboine

Merger Update

May 7, 2025

As we continue to work through the merger process, we have kept our commitments to French Services, Rural & Agricultural Roots and Values-Based Banking top of mind and have some exciting updates that reflect these important promises to share with you.  
 
Employees Say Oui!  
Assiniboine Credit Union / Caisse Assiniboine is proud to announce a new partnership with the Université de Saint-Boniface (USB) to offer free Conversational French Classes to employees, with instruction available at multiple levels, from beginner to advanced.  
 
Approximately 240 employees across ACU’s three legacy organizations expressed interest in the program, with 148 currently enrolled in the spring session. This positive response reinforces the commitment to delivering inclusive, accessible French services in the French designated areas we serve.  

Read our Press Release

Updated Logo  
We are thrilled to introduce our updated logo which includes a bilingual version, a French version and updated accessible colours, reflecting our commitment to inclusivity and our dedication to serving our diverse communities. 

The colours were selected with great care and intention.  While each colour is different, together they make one ACU. They are bold like our future and accessible like our expertise, products and services. The colours are very symbolic, representing our vibrant prairies, water, rural, agricultural and Francophone communities, our commitment to Truth & Reconciliation, and celebrate diversity and inclusion.
 
Green: Reflects our vibrant prairies and our commitment to improving members’ financial health. It also reflects our dedication to the environment. Green symbolizes new beginnings, perfectly capturing the spirit of our merger. 
 
Blue: We see water and the Assiniboine River that links us throughout Manitoba, as well as the endless potential of a bright blue prairie sky seen by our members across the province. 
 
Orange: Represents the fields of our agricultural communities. Orange symbolizes a radiant future and embodies the gratitude we feel as the sun rises and sets over our province. 
 
Red: Specifically, Reconciliation Red, demonstrates our dedication to Truth and Reconciliation. Red also holds special significance within Francophone and Indigenous communities representing the Red River, where Manitoba’s first Francophones settled in the early 19th century.  
 
Purple: Celebrates diversity, inclusiveness and pride. In the 2SLGBTQIA+ community, purple represents spirit and resilience. Purple is part of the original Pride flag symbolizing strength and empowerment.

Click the video below to watch!

This is a major milestone, one logo unifying three strong organizations becoming a truly unique Manitoban credit union.  

Looking ahead 
As we have previously shared, in 2025, we are focused on detailed planning, testing, and training to ensure a smooth transition to unified banking platforms, products and services in 2026. For now your day-to-day banking will continue as usual, with minimal changes until next year.   
We are committed to sharing information as we progress on our merger journey. Be sure to let us know if your contact information has changed.
 
We encourage you to check your digital banking information to ensure you are receiving important updates. 

Merger Update

Welcome to Assiniboine Credit Union / Caisse Assiniboine

What to expect January 1st with the new Assiniboine Credit Union / Caisse Assiniboine

Merger Update: Executive and Senior Leadership Announcement

Merger Update: Introducing Our New Board Leadership

Thank you for saying “Yes and Oui” to the merger

Letter to Members

Merger Phases

We are currently in the MERGER phase

Here are the primary phases of the proposed partnership between Assiniboine Credit Union, Caisse Financial Group, and Westoba Credit Union.

Throughout the whole process, we will continue to have open and deep conversations with members, employees, and our communities.

Phase Complete

Exploration

  • Late 2023 – The Boards of Directors of all three financial co-operatives began discussions.
  • November 29, 2023 – We announced we were starting to explore the opportunity to bring our organizations together.
  • Mid-December 2023 to Spring 2024 – A deep and thorough due diligence process began. We were transparent with each other and took a close look at each other’s financial, operational, and legal status, including details about assets, liabilities, and risks. We hosted in-person and virtual open houses for members in communities across the province, gathered input through surveys, had ongoing conversations with employees, and answered questions from members and our communities.

This process set the stage for writing a business case that was presented to the Boards of Directors, which they approved.

Phase Complete

Recommendation

The Boards of Directors of all three organizations have now recommended to our members that we merge based on consultations with our regulators, employees, members, and communities, due diligence, and the proposed business case.

Phase Complete

Merger Vote & Results

Members of all three organizations will have an opportunity to vote on the partnership. Your participation is imperative! Results will be announced once votes are counted.

Member-owners of Assiniboine Credit Union, Caisse Financial Group, and Westoba Credit Union voted “Yes and Oui” to the proposed merger.

Phase Complete

Required federal and provincial approvals following the positive membership votes are in process and are expected before our effective date of January 1, 2025.

Phase Complete

Merger

Assiniboine Credit Union, Caisse Financial Group, and Westoba Credit Union united as a newly formed legal entity and begin to implement plans to integrate operationally effective January 1, 2025.

In the face of change, challenge and opportunity, collaboration is our response.


By leveraging our strengths and our values, and by working together, we believe we can create something great for our province. We want to build an organization with a steadfast commitment to our members, employees, and community.

How Did We Get Here?

Each of our founding members had the same dream.  
 
They imagined what would be possible if individuals came together and created a way to lend each other money at fair rates when banks would not. Some were farmers, labourers, and electrical workers who experienced the financial hardships of the Great Depression or World War II.
 
They shared the same challenges with banks and understood the possibilities of the co-operative movement. They made a pact with their co-workers, neighbours, and families to grow and be better together – to make life better for their workplace, families, and communities.

Organization at a Glance

Assiniboine
Founded in
2025
Founded in
Winnipeg
Headquarters
Winnipeg
Number of members
216,000
Number of employees
970
Number of branches
49
Assets
$9.6 billion
Lines of business
Personal, Commercial,
Wealth Management, Agriculture

The Reality of Emerging Trends

We have been carefully watching and planning for emerging trends in the financial industry, which our founders could never have imagined 80 years ago. 
  
The banking landscape is changing quickly and dramatically around us. It’s imperative that we pay attention and respond to:

Our Commitments

The value proposition of the merged credit union includes its quality of service,
competitive positioning, convenient solutions, commitment to urban, rural, agricultural, and Francophone communities, French language services, and a values-based approach to banking, which includes continuing B Corp certification.
 
The new entity will leverage the power of its balance sheet to make investments on behalf of its members that diversify revenue, reduce risk, and enhance organizational sustainability.

We are doing what we always do best, working cooperatively in this merger. It’s who we are.
Commitment to
French
Services

We’re excited about the unique opportunity to serve both English and French-speaking communities across Manitoba. With a nod to our rural roots and the rich history of Caisses populaires, we recognize the deep connection these institutions have in shaping our new corporate identity. We also understand the vital role the Francophone community plays in the vibrant tapestry of Manitoba and Canada. We’re dedicated to ensuring our Francophone members have continued access to services in French, whether in person in designated areas or through digital channels.

Commitment to
Rural & Agricultural Roots

The merged organization would be positioned to provide greater support to rural communities currently represented by Westoba Credit Union in western Manitoba and Caisse Financial Group in south-central Manitoba. The scale of this new entity would allow the merged credit union to provide rural members with wider geographical coverage, a large suite of products, larger scale of funding for large agricultural businesses, and the ability to provide better service through employees with broader and more specialized skills.

Commitment to
Values-Based Banking

As a merged organization, we are committed to continuing to work together and partner with others for mutual benefit and the common good, dedicated to the International Co-operative Principles and the B Corp Declaration of Interdependence. We believe a merged credit union will have even greater capacity to create shared value for employees, members, and communities.

Commitment to
French
Services

We’re excited about the unique opportunity to serve both English and French-speaking communities across Manitoba. With a nod to our rural roots and the rich history of Caisses populaires, we recognize the deep connection these institutions have in shaping our new corporate identity. We also understand the vital role the Francophone community plays in the vibrant tapestry of Manitoba and Canada. We’re dedicated to ensuring our Francophone members have continued access to services in French, whether in person in designated areas or through digital channels.

Commitment to
Rural & Agricultural Roots

The merged organization would be positioned to provide greater support to rural communities currently represented by Westoba Credit Union in western Manitoba and Caisse Financial Group in south-central Manitoba. The scale of this new entity would allow the merged credit union to provide rural members with wider geographical coverage, a large suite of products, larger scale of funding for large agricultural businesses, and the ability to provide better service through employees with broader and more specialized skills.

Commitment to
Values-Based Banking

As a merged organization, we are committed to continuing to work together and partner with others for mutual benefit and the common good, dedicated to the International Co-operative Principles and the B Corp Declaration of Interdependence. We believe a merged credit union will have even greater capacity to create shared value for employees, members, and communities.

Commitment to
French
Services

We’re excited about the unique opportunity to serve both English and French-speaking communities across Manitoba. With a nod to our rural roots and the rich history of Caisses populaires, we recognize the deep connection these institutions have in shaping our new corporate identity. We also understand the vital role the Francophone community plays in the vibrant tapestry of Manitoba and Canada. We’re dedicated to ensuring our Francophone members have continued access to services in French, whether in person in designated areas or through digital channels.

Commitment to
Rural & Agricultural Roots

The merged organization would be positioned to provide greater support to rural communities currently represented by Westoba Credit Union in western Manitoba and Caisse Financial Group in south-central Manitoba. The scale of this new entity would allow the merged credit union to provide rural members with wider geographical coverage, a large suite of products, larger scale of funding for large agricultural businesses, and the ability to provide better service through employees with broader and more specialized skills.

Commitment to
Values-Based Banking

As a merged organization, we are committed to continuing to work together and partner with others for mutual benefit and the common good, dedicated to the International Co-operative Principles and the B Corp Declaration of Interdependence. We believe a merged credit union will have even greater capacity to create shared value for employees, members, and communities.

FAQs

Have questions? Check out our list of FAQs

Past Open Houses

Contact Us

CollaborationMB@acu.ca
CollaborationMB@caisse.biz
CollaborationMB@westoba.com
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