REGINA, Saskatchewan–The three credit unions that are part of a big merger here have selected a new name, and it will look familiar to many.

As the CU Daily reported here, members of Conexus, Cornerstone and Synergy credit unions OK’d the merger in June and now the combined CU has appointed its CEO and selected the name under which it will operate. In a rare coincidence, the merger took place while another similar three-way merger was also getting member approval in British Columbia.

The combined CU will be retain the name of Conexus Credit Union and will create a combined operation with about $15 billion in assets. 

CEO Named

In addition, the boards of the credit unions have appointed Celina Philpot to be CEO effective Jan. 1, 2025. Philpot is currently CEO of Connexus.  

“I’m honored to lead the new Conexus Credit Union into this exciting next chapter,” Philpot said in a statement. “This merger marks a powerful commitment to our members and communities across Saskatchewan. I’m deeply grateful for the trust placed in me and look forward to working alongside our dedicated employees and board to build a stronger, more resilient credit union that is deeply rooted in community and focused on the future.” 

No Word on Fate of Two CEOs

Doug Jones, CEO of Cornerstone Credit Union, and Trevor Beaton, CEO of Synergy Credit Union will continue in their roles until the three credit unions become one on Jan. The institutions did not say what their roles will be, if any, after that date.

When the merger is complete, the credit union will have approximately 200,000 members, 57 branches across 50 communities and 1,400 employees across Saskatchewan. 

The Next Phase

The credit unions said  next phase of the merger will focus on planning for the integration of systems, products, services and operations to deliver an enhanced experience for all members.