Ryan Kiedrowski
Local Journalism Initiative Reporter
The World-Spectator
After 10 days of voting, members of the Conexus, Cornerstone, and Synergy Credit Unions have overwhelmingly said they want to merge. The latest and most crucial step in forming Saskatchewan’s largest Credit Union took place from June 3 to 10 with the resolution ultimately passing as 86.5 per cent of Cornerstone members, 87.5 per cent of Conexus members and 88.7 per cent of Synergy members were in favour.
“We’re excited,” said Ken Kosolofski, Board Chair of Conexus Credit Union. “We got some pretty overwhelming support from our members, and really a resounding mandate to create a credit union that’s strong, competitive, resilient and community-focused to serve our members—not only today, but also future members. We did a very significant member outreach program, and it translated into members coming out, voting, and actually being interested in this merger. So we’re very pleased with the engagement that we got from our membership.”
Conexus’ CEO Celina Philpot echoed those sentiments, saying that ensuring members could easily add their voice was very important to the process.
“What we wanted to do when we were planning for this vote was to create as many access points as possible for our members so that everybody had an opportunity to exercise their right to vote,” she explained. “We offered three different ways: one was through online banking, which is accessible through the phone app; the other was online, and that online actually came in two forms, either online on your own, or coming to see us in the branch where we could support you with the technology if you didn’t have that technology. When we looked at the results, it was about a 50/50 split for those who chose to use their digital app versus those who chose to use online.
“What we did see was folks wanting to come out and use those stations in our branches, having an opportunity to talk to our staff, our board, and executive team that were also at many locations. It was a really great environment to engage in that dialog and give people many different ways to vote. We were really pleased with the turnout that we saw.”
The three credit unions will officially become one entity on Jan. 1, 2026 and will serve more than 200,000 members through 57 branches in 50 communities throughout the province.
“The results of our member vote is a testament to the trust our members place in us and the shared vision we have for the future,” said Synergy CEO, Doug Jones. “This merger represents a significant step forward. We’re excited about what lies ahead and are committed to honouring our legacy while building a province-wide credit union together.”
Synergy Board Chair Neil Carruthers also pointed out how important the merger is for everyone associated with the three credit unions.
“This is a significant milestone for our credit union and our communities,” he said. “Our members have spoken, and we are moving forward with confidence. This merger is rooted in the values that have always guided us—co-operation, local decision-making, and putting members first. With your support, we are building something truly special.”
Mostly positive feedback
Philpot was in Moosomin during the voting period and heard mostly positive feedback from members. There were two areas of concern, which were addressed.
“Primarily what I heard from the members was, ‘are you going to keep my branch open?’ and we were able to say, ‘yes, that’s part of our 10 commitments. We will keep your branch open’,” she said. “Second to that was the staff—we really like the staff, can you commit that you’re going to keep your staff? And that was also one of our 10 commitments, is the commitment to staff, those who would like to be on this journey with us. We are committed to supporting them through the journey. Other than that, members were pretty satisfied with the commitments that we made.”
Common to any merger, the question of whether bigger really is better arose, to which Philpot pointed to the long history Conexus has with the process.
“Conexus is a compilation of many mergers for over 80 years, and part of that is the coming together—Moosomin being one of them,” she said, adding that upon reflection back to 2006 when the local branch first merged, members felt confident in the Conexus of today.
“The reality is we continue to be a credit union,” Kosolofski said. “That means we’re community-focused and we support all of our members. That was the primary objective of even coming up with the 10 commitments to make sure that local presence was available, and that we’re going to continue to uphold that principle, and also support our community.”
As the recent vote has illustrated, the members reciprocate their confidence in credit unions to uphold those community values.
“We are incredibly grateful to our members for their strong support and shared vision for the future,” said Cornerstone Board Chair, Heidi Schofer. “This successful vote confirms what we’ve always believed: by coming together, we can build a provincial credit union that’s more member-focused, sustainable, and competitive. In the face of rising costs, economic uncertainty, and evolving expectations, we are choosing strength through partnership—so we can serve our members better today and for generations to come.”
Once fully formed, there will be some 1,400 employees in the soon-to-be-merged credit union.
“Our members care deeply about their credit union—and the communities they live in,” said Trevor Beaton, CEO with Synergy. “With this merger, we’re not just creating a stronger financial institution; we’re amplifying our ability to reinvest in the people and places we all call home. Profits stay local, decisions stay local, and members remain at the heart of everything we do.”
Next steps
The question of what the new entity will be called shall remain under wraps for now, but it will come from one of the three merging credit unions.
“The name of the credit union will come from one of the three,” Kosolofski confirmed. “We brought in outside help to look at our branding, look at our marketing, to see which credit union resonates well with the residents of Saskatchewan, and we’ll pick that name based upon the conclusions that the consultant arrives at. The other thing that we’re going to have to do is we’re going to have to appoint a new CEO, and it’s going to be a CEO from one of the three credit unions. So the board is immediately turning their attention to that recruiting effort.”
An announcement is anticipated before the Jan. 1 date, and the inaugural board will be comprised of 12 directors (six from Conexus, and three each from Cornerstone and Synergy). Representing Conexus on the board are Adam Hicks, Kosolofski, Jessica McNaughton, Tim Otitoju, Kathryn Pollack, and Pam Skotnitsky. From Cornerstone are Ty Kehrig, Schofer, and Lyle Weichel. Synergy will see representation from Melanie Bonnah, Carruthers, and Don Wheler.
“We’re going to take the time to plan out what those key activities will be,” Philpot said. “There will be many firsts—our legal date of Jan. 1, 2026 and then system integration. That’s part of a really key activity, and that will enable members that currently go to certain locations with a partner credit union to then be able to go between our locations throughout the province, so that will be another first. Then many activities that we need to engage with vendor partners in order to make sure we have a clean, seamless, and smooth transition for our members. But we’re eager to exercise those activities to deliver on those commitments and the benefits that we see is bringing us together.”
The three credit unions have been exploring a merger since late November of 2024, launching the initiative Together for a Thriving Saskatchewan.
