The Board of Directors of Spectra Credit Union is moving forward with a recommendation to their members to merge with Affinity Credit Union which has its headquarters in Saskatoon but has a distinct presence throughout the province. This merger has been under consideration for about two years, with contemplations of specifically partnering with a major credit union with provincial wide recognition since January.A merger will mean Affinity will be able to add Spectra's 10 branches to its current 44 branch count and provide a presence in southeast Saskatchewan, one area that the company had little involvement in prior. According to Scott Flavel, the President of Affinity Credit Union, "it was Spectra's choice to recommend a merger and all of the Spectra buildings will be taking on the Affinity name."Wayne Amos, president of the Spectra Board of Directors, said in a press release that "while Spectra is financially strong, the directors recognize market pressures to stay competitive in an increasingly sophisticated and regulated industry. A merger with Affinity Credit Union will provide our members with continued competitiveness, excellent local service and community support and strong governance structure. "The two credit unions will be setting up a joint steering committee in the near future to ease the concerns of members and their employees. Of course the goal of the mergers is to make the services they offer better, and is not expected to negatively affect anyone involved. "What's good is people really won't see a lot of changes," explained Amos. "Spectra will still have 10 branches in Southeast Saskatchewan. The branch in Carlyle will still be the credit union you know and love, just the name will change."As far as timing of the proposed mergers is concerned, Flavel also mentioned that he hopes to begin the process right away, but Spectra is estimating that after presenting the matter to their membership owners in March, July 1st is a realistic goal time for all of the changes to be made.
