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CN (LONDON) CREDIT UNION MEMBERS VOTE OVERWHELMINGLY IN FAVOUR OF JOINING YOUR NEIGHBOURHOOD CREDIT UNION
JUNE 18, 2014 - The Board of Directors of CN (London) Credit Union are thrilled to announce that their membership voted unanimously to join Your Neighbourhood Credit Union (YNCU), based in Kitchener. Members voted in favour of joining YNCU and becoming open bond (serving the whole community as well as current and former employees of CN Rail, VIA Rail, and AllStream Canada, and their families).
C N (London) Credit Union Board Chair Chris Martin, along with Cindy Gelinas, General Manager and the entire staff and Board of Directors are very happy with the result. “We look forward to the additional financial services and branches that will be available to our members as part of the Your Neighbourhood family,” Martin said following the vote. Gelinas shared the sentiment; “Everyone is excited that our credit union will be growing and will be part of such a community-minded organization like Your Neighbourhood Credit Union. We want to be the first choice for our members’ banking, and cannot wait to welcome the whole community to bank with us!”
Kerry Hadad, YNCU’s Chief Executive Officer, shared the optimism about the future in London; “This is a great day for all of us. CN Credit Union has been an important part of the lives of their members for generations, and we want to help grow what they have built. London is an evolving community, and we look forward to being part of that growth and change. It’s an honour that CN members chose us to be part of their future.”
C N (London) Credit Union serves over 1275 members including current and former employees of CN Rail, VIA Rail, AllStream Canada and their families, and operates one branch in London; they hold approximately $8.3 million in assets. YNCU currently serves approximately 38,000 members, and operates 17 branches across Southwestern Ontario (Kitchener, Waterloo, Cambridge, Brantford, Paris, Mitchell, Sebringville, Stratford, Shakespeare, Windsor, LaSalle, Guelph, Woodstock, and London) with over $940 million in assets.
The agreement is anticipated to close on September 30, 2014 and will operate under the name of Your Neighbourhood Credit Union.
Visit www.yncu.com or www.cncu.ca , or for further information, please contact:
Kerry Hadad Cindy Gelinas
Chief Executive Officer General Manager
Your Neighbourhood Credit Union CN (London) Credit Union
38 Executive Place 205 York Street, Suite 301
Kitchener ON London ON
N2P 2N4 N6A 1B1
519.804.9190 ext. 612 519.667.2326
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