Conexus, Cornerstone, and Synergy Credit Unions are Merging!
Regina, Saskatchewan, June 18, 2025 (GLOBE NEWSWIRE) -- Members of Conexus, Cornerstone, and Synergy Credit Unions have voted in favour of merging, marking a historic and exciting moment for credit union members across Saskatchewan. This pivotal moment marks the beginning of an exciting new chapter for these credit unions and the communities we serve!
Effective January 1, 2026, these three credit unions will unite to form a new province-wide credit union. The new credit union will be governed by an inaugural board that will include twelve directors comprised of six directors from Conexus and three each from Cornerstone and Synergy Credit Unions.
Voting took place both online and in-branch during the period of June 3 – 13, with members across all three credit unions showing clear support for the merger. The resolution was passed with 87.5% of the members voting in favour from Conexus, 86.5% in favour from Cornerstone and 88.7% in favour from Synergy. A successful vote required at least 75% approval from members participating in the vote, for each credit union. This strong vote of confidence from members confirms the shared vision and commitment to building a stronger, more resilient credit union that remains member-focused and dedicated to a thriving Saskatchewan.
By merging, this new credit union will be better prepared to meet future investment needs, access specialized expertise, and navigate regulatory challenges while continuing to offer the service, innovation, and local decision-making members expect.
With a combined $15 billion in assets under management, the new credit union will serve more than 200,000 members, through 57 branches, in 50 communities with 1,400 employees throughout Saskatchewan. This merger builds on the success of these three credit unions while staying true to their shared values.
This merger is a proactive step forward to ensure the credit unions remain strong, sustainable, and locally rooted for generations to come.
Over the coming months, we will finalize the required legal and regulatory processes and announce the CEO and the credit union name. The CEO and credit union name will be selected from one of the three existing credit unions before we officially become one on January 1, 2026. The next steps in the process are to begin the significant undertaking of integrating our three credit unions.
Thank you to all members who participated in this important vote. Your voice has shaped the future of your credit union!
To stay informed, visit your local branch or our shared website: thrivingtogethersk.ca
Quotes from Credit Union Board Chairs and CEOs
"On behalf of the Board of Directors, I want to thank our members for their overwhelming support and confidence in this decision. This merger reflects our long-standing commitment to doing what’s best for our membership, now and in the years to come. Together, we’re creating a foundation for continued strength, stability, and growth."
- Ken Kosolofski, Board Chair of Conexus Credit Union
"We are incredibly grateful to our members for their strong support and shared vision for the future. This successful vote confirms what we’ve always believed: by coming together, we can build a provincial credit union that’s more member-focused, sustainable, and competitive. In the face of rising costs, economic uncertainty, and evolving expectations, we are choosing strength through partnership—so we can serve our members better today and for generations to come."
- Heidi Schofer, Board Chair of Cornerstone Credit Union
"This is a significant milestone for our credit union and our communities. Our members have spoken, and we are moving forward with confidence. This merger is rooted in the values that have always guided us—cooperation, local decision-making, and putting members first. With your support, we are building something truly special."
- Neil Carruthers, Board Chair of Synergy Credit Union
“We want to thank all our members for their participation and support through the consultation and voting process. Our members are the reason we exist, and it is their voice and their vote that enables us to proceed to build a stronger credit union. This merger presents a significant opportunity for the future of our credit union.”
- Celina Philpot, CEO of Conexus Credit Union
“The results of our member vote is a testament to the trust our members place in us and the shared vision we have for the future. This merger represents a significant step forward. We’re excited about what lies ahead and are committed to honoring our legacy while building a province-wide credit union together."
- Doug Jones, CEO of Cornerstone Credit Union
"Our members care deeply about their credit union - and the communities they live in. With this merger, we’re not just creating a stronger financial institution; we’re amplifying our ability to reinvest in the people and places we all call home. Profits stay local, decisions stay local, and members remain at the heart of everything we do."
- Trevor Beaton, CEO of Synergy Credit Union
More Information
About Conexus Credit Union
Conexus has more than 80 years of serving members and giving back to our communities. Conexus manages over $10 billion in assets and has almost 900 employees serving more than 145,000 members across 30 locations in Saskatchewan.
About Cornerstone Credit Union
Cornerstone is the product of many mergers over the years, with the most recent in 2021 with Horizon and Plainsview credit unions. Cornerstone has over $2.7 billion in assets with 15 branches within East-Central Saskatchewan. Cornerstone Credit Union serves over 30,000 members and has an employee base of 280.
About Synergy Credit Union
Synergy is a member-owned financial institution serving over 27,000 members with 12 branches across west-central Saskatchewan. As the fifth-largest credit union in Saskatchewan, Synergy has 238 employees and manages approximately $2.8 billion in assets, standing tall among Canada’s leading credit unions.
For more information and to arrange interviews, please contact:
Michael Chmielewski
Conexus Credit Union
media@conexus.ca
(306) 751-8201
Lori Walsh
Cornerstone Credit Union
lori.walsh@cornerstonecu.com
(306) 621-3471
Marié Steyl
Synergy Credit Union
marie.steyl@synergycu.ca
(306) 500-5159
Attachment
Michael Chmielewski Conexus Credit Union 306-751-8201 media@conexus.ca
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