Members of Columbia Valley Credit Union (CVCU) will soon decide whether to merge with Kootenay Savings Credit Union (KSCU), in a proposal that would see the two organizations combine as of January 1, 2026.
If approved, Kootenay Savings would acquire all assets and liabilities of Columbia Valley Credit Union under what’s known as an asset transfer agreement. CVCU would be dissolved as a legal entity, and its 4,700 members would automatically become members of Kootenay Savings. The Golden branch would continue to operate in its current location under the Kootenay Savings banner, with no planned changes to hours or staffing.
What the merger means
The boards of both credit unions say the move is designed to create a stronger, more competitive financial cooperative able to invest in new technology, offer more products, and provide higher lending limits. The combined credit union would serve nearly 40,000 members and manage about $2 billion in assets.
Kootenay Savings’ subsidiaries—MoneyWorks and Kootenay Insurance Services—would give Golden-area members expanded access to investment, wealth-management, and insurance options. CVCU employees are expected to be retained, with wages harmonized to Kootenay Savings’ compensation scale.
Community investment is promised to continue, with commitments to use local suppliers, support youth and volunteer initiatives, and fund large community projects through the Kootenay Savings Community Foundation.
Potential trade-offs
While the merger is framed as an opportunity to grow, it also means the loss of Columbia Valley Credit Union’s independent identity. Decision-making authority would shift largely to the Trail-based head office. Three CVCU directors will join the new 13-member board until 2029 to ensure local representation during the transition.
The CVCU board acknowledges risks such as cultural differences, technology integration, and the challenge of maintaining local service within a larger organization, but says the benefits outweigh those risks.
Costs and next steps
The estimated cost of the merger, including technology upgrades and rebranding, is between $2 million and $3 million. No layoffs are planned.
Members in good standing as of October 31, 2025, are eligible to vote. Voting will take place from November 14 to 28, either online, at the Golden branch, or in person during the Special General Meeting on Thursday, November 20, at 6:30 p.m. at the Golden Seniors Centre.
More information is available at www.bridgingopportunity.com or by visiting the Columbia Valley Credit Union branch at 511 Main Street in Golden.
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