Overview

• The BC Financial Services Authority granted consent, enabling First Credit Union to call a member vote later this fall.
• The Canadian Competition Bureau issued a no action letter, satisfying the competition-law condition for closing.
• Completion remains contingent on approval by First Credit Union members along with other remaining conditions.
• Vancity members are not required to vote under the co-operative governance process.
• If approved, the combined organization would serve over 585,000 members with about 2,400 employees, 60 branches, and roughly $38.2 billion in assets under administration.