Two financial institutions have entered merger talks in hopes of better serving their collective membership, employees and communities in Grand Forks.
In a statement released May 2, Grand Forks Credit Union (gfcu) and Gulf and Fraser Fishermen’s Credit Union (G&F Financial Group) announced they are in the “very early stages of discussions.”
If the merge is approved, the joint organization will provide a network of 29 branch locations and four insurance locations, connecting communities from the Lower Mainland and Fraser Valley into the BC Interior, with a combined membership of approximately 70,000.
The banks would operate as one, using the legal name Gulf and Fraser Fishermen’s Credit Union, doing business as G&F Financial Group.
A timeline for the merge is yet to be determined, as the companies must undergo due diligence, regulatory consent, engagement with members and a positive membership vote.