North Central BC, April 2, 2025 – Coastal Community Credit Union and Integris Credit Union sign Memorandum of Understanding to explore a potential merger.
Coastal Community Credit Union (“Coastal Community”) and Integris Credit Union (“Integris”) are thrilled to announce they have signed a Memorandum of Understanding (“MOU”) to explore an exciting opportunity of joining forces. This MOU signifies a commitment to thoroughly evaluate the benefits and implications of a merger to ensure it aligns with the best interests of their respective members, clients, employees and communities.
“This partnership is about looking to the future. By exploring how we can grow together, we’re opening new opportunities to strengthen our resilience and improve the products and services our members rely on. Together, we can do more—for our people, for our members, and for our communities”, said Alexandra Goseltine, Chair of Integris’ Board of Directors.
“In the spirit of the credit union movement, we are very happy to be working with Integris to create a stronger credit union that is better able to serve the needs of Vancouver Island, the Gulf and Discovery Islands and north-central BC. We have both done that well in our respective regions for close to 80 years and together, we believe we can do it even better”, said Dominique Roelants, Chair of Coastal Community’s Board of Directors.
It is believed that combining the strengths, resources and talented employees of the two credit unions will empower the credit unions to expand their capabilities, directly benefiting members and clients by enhancing services and maintaining the strong local presence and personalized attention to the communities the credit unions each have today. The potential merger would also create a stronger platform to invest in innovation, attract and retain great people, and deliver even greater financial health and well-being to members, clients and communities.
Both Integris and Coastal Community share a common purpose and set of values, rooted in co-operative principles and a commitment to improving the financial health and well-being of their members, clients and communities. They were each also founded with an intentional focus to empower local communities and continue to hold this purpose at the heart of both their operations.
Founded in 1946, Integris has $1.3 billion in total assets under administration of which $900 million in on-book credit union assets and $400 million in assets through their partner, Aviso Wealth.1 Integris has nine branches, 200 employees and serves 27,000 credit union members in the north central BC region.
Integris collaborates with its members, staff and communities to ensure financial wellness is achieved with the help of its financial experts. As a living wage employer, Integris continues to be a leader and community enriching organization.
Also founded in 1946, Coastal Community has $3.4 billion in on-book credit union assets. They also hold $1.1 billion in assets under management through their partner, Aviso Wealth.2 Their subsidiary, Coastal Community Private Wealth Group3, in partnership with Manulife Financial, holds a further $57.4 million in assets under management. Total assets under management through partners are $1.2 billion.
This is an exciting step toward building a stronger, more inclusive, and more resilient credit union for the future. With the MOU signed, the focus is on conducting thorough due diligence to evaluate the potential merger’s impact and benefits. If the boards of directors of both credit unions agree to pursue a merger, the transaction will be subject to consent from BCFSA Superintendent of Financial Institutions, review by the Competition Bureau and any applicable member votes as may be required under credit union legislation.
Integris and Coastal Community are committed to keeping their members, employees, and communities informed throughout this process and will share updates as they become available. In the meantime, both credit unions will continue to operate independently, maintaining their commitment to serving their members, clients and communities with the same dedication, trust and care they are both known for.
Media contacts:
Allyson Prescesky | AVP, Community Impact and Corporate Communications,
Coastal Community Credit Union | 1-888-741-1010
Mandy Guerin | Marketing & Strategy Manager,
Integris Credit Union 1-866-554-3456
About Coastal Community
For over 75 years, we’ve been passionate about helping Islanders improve their financial health and protect what’s important. This vision is why we have grown to be the largest financial services organization based on Vancouver Island and the Gulf Islands. To help you improve your financial health, we offer a range of personal, business, and commercial banking and insurance* services, as well as wealth management through Aviso Wealth**. Our Island communities are our homes, so we make decisions based on our knowledge of the local market, strengthening local economies. And we never stop looking for ways to improve the way we do business.
*References to “insurance” refer to the property and casualty insurance provided through Coastal Community Insurance Services (2007) Ltd., an affiliate of Coastal Community Credit Union.
**Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.
About Integris Credit Union
Integris Credit Union respectfully acknowledges that we operate on beautiful and unceded Dakelh and Secwepemc
Territories. Integris is a financial cooperative offering banking, insurance (including ICBC Autoplan), Financial Planning, and Group Benefits to over 27,000 members in the north central BC region. As a living wage employer, Integris continues to be a leader and community enriching organization.
For more information about Integris, visit: www.integriscu.ca
- Integris Financial Planning is a wholly owned subsidiary of Integris Credit Union. Securities are offered through Aviso Wealth, a division of Aviso Financial Inc., Member of the Canadian Investor Protection Fund.
Mutual fund products and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc., Member CIRO and Canadian Investor Protection Fund. - Mutual funds and other securities are offered through Aviso Wealth. Online brokerage services are offered through Qtrade Direct Investing. Aviso Wealth, Qtrade Direct Investing, and Qtrade Guided Portfolios are divisions of Aviso Financial Inc.
- Coastal Community Private Wealth Group is a division of Coastal Community Financial Management Inc., which is a subsidiary of Coastal Community Credit Union. Coastal Community Financial Management Inc. is a licensed life insurance agency offering financial planning, life insurance and investments. All insurance products are subject to the limitations, terms and conditions in the applicable policy or insurance contract in force at the time of purchase or enrolment and applicable legislation. The products sold through Coastal Community Financial Management Inc. are not guaranteed or insured by a deposit insurer.
