LOWER SACKVILLE, Nova Scotia — In a rare move, four Nova Scotia credit unions with a combined $2 billion in assets are asking members to approve a merger that leaders say would create a stronger, provincewide cooperative financial institution better positioned to invest in technology, products and community service.
The boards of East Coast Credit Union, Acadian Credit Union, iNova Credit Union and Teachers Plus Credit Union have unanimously recommended the merger following a due diligence review and the development of a joint business case, according to reporting by The Laker and information released by the participating credit unions.
If approved by members in votes scheduled for fall 2026, the combined organization would serve about 65,000 members through 24 locations with approximately 400 employees and about $2 billion in assets, making it one of Nova Scotia’s largest credit unions.
One CU Dominates
East Coast Credit Union is the largest of the four institutions, reporting approximately $1.77 billion in assets at the end of 2025. Based on the proposed combined total of $2 billion, the remaining three institutions — Acadian Credit Union, iNova Credit Union and Teachers Plus Credit Union — collectively account for roughly $230 million in assets.
Credit union officials said the merger would allow the organization to make greater investments in digital banking, expanded financial services and new technologies while maintaining a commitment to member service and local communities.
“This recommendation is about building a stronger future for our members,” East Coast Credit Union President and CEO Ken Shea said in a statement. “By coming together, we can build on the shared co-operative values that unite our credit unions while strengthening our ability to serve members, support employees and invest in the communities that count on us.”
Preserves ‘Heritage’
Acadian Credit Union Board Chair Daniel LeBlanc said the merger would preserve the credit union’s Acadian heritage while expanding services for French-speaking members. iNova General Manager Karla MacKeen said members would retain their current services while benefiting from additional personalized advice and innovative solutions. Teachers Plus Board Chair Kyle Sarka said the combined institution would have greater resources to invest in products, expertise and digital tools for members.
The credit unions said the merger is also intended to expand their ability to support economic development and community initiatives throughout Nova Scotia while creating additional opportunities for employees.
Members of each of the four credit unions must approve the merger before it can move forward.
