The merger vote has passed!
The Boards of Directors of Access Credit Union, Noventis Credit Union, and Sunova Credit Union are pleased to announce their memberships’ approval of the proposal to merge. The vote results were shared at each credit union’s Special Meeting of Members hosted online the evening of January 27, 2022.
Voting took place online between January 25th and 27th. Each credit union achieved the required two-thirds majority vote for membership to accept the Special Resolution.
We are pleased to share the resolution was passed with the following results:
Access Credit Union: 76%
Noventis Credit Union: 86%
Sunova Credit Union: 74%
What does this mean for Hubert members?
The two online divisions, Hubert (Sunova) and AcceleRate (Access), will continue to operate as they do today. Any decisions about the blending of these two online divisions, or the other subsidiaries operated by all three credit unions, will be made after the official merge date in July 2022.
Will the high-quality service stick around, in addition to my favourite service representatives?
We are committed to upholding our service standards, and there are no plans whatsoever to transition over to any type of automated system. You will always have the opportunity to speak to a well-trained and knowledgeable call-centre staff member. (During regular business hours, of course).
There will be no layoffs as a result of the merger; however, some roles may change, retirements will occur and some positions may be added. With an organization this size, there will likely be additional opportunities that require more in-depth knowledge or specialization in order to serve members and internal staff effectively. In addition, many executive members here at Sunova and Hubert would continue to remain at the leadership level to influence decisions of the potential new organization.
What about products and rates?
As we continue to work through the process, we will complete a thorough review of all products and service plans available at each credit union, and the same would be done for the online divisions at a later point in time. While the exact specifics of the products, services, and rates members will have access to will be finalized after the new organization is formed, the commitment to our membership and desire to provide an optimal banking experience is top of mind and one of the key drivers of this proposed collaboration.
Sunova and Hubert will transition over to the banking system used by both Access Credit Union and Noventis Credit Union, likely in early 2023. Currently, Hubert offers a lot of appealing products and services that AcceleRate members do not have access to. Integration in this scenario means consolidating onto one system, while including the very best features / services available at each. This means Hubert members won’t lose any valued functionality, and members of both credit unions would likely experience some enhanced functionality moving forward.
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Thank you for your patience as we’ve navigated through this process, thank you for your ongoing trust in Hubert’s products, services, and staff, and thank you for choosing Hubert as your online financial institution. We look forward to the future of Hubert Financial and the new Access Credit Union, and look forward to keeping you informed every step of the way as we approach July 1.
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