Access Credit Union members have voted in favour of amalgamating with Winnipeg-based Crosstown Civic Credit Union.

In total, over 77 percent of 4,400 Access members and 87 percent of Crosstown Civic members voted in favour of the merger.

The move will position the new organization known as Access as one of the largest credit unions in Manitoba with $5.5 billion in assets, over 89,000 members and more than 400 employees, along with 26 full service branch locations.

"It's huge in that it blends an urban and a rural credit union, two large, equally sized credit unions partnering together is relatively unheard of in the credit union landscape," Chair of the Access Credit Union Board of Directors Curt Letkeman explains, adding the new entity will benefit from the strengths of both small towns and the larger city.

He notes the growth would also allow the new credit union to invest more into technology and new services, while maintaining a strong local community focus.

The new board will consist of ten members, five from the original Access Credit Union, five from Crosstown Civic. Each board will determine which of their existing directors will join the new board.

Letkeman says retaining the name Access Credit Union was supported by Crosstown knowing it speaks of the accessibility the credit union aims to provide to members.

Over the next few weeks and months, Letkeman says the work will begin to align the senior management team and staff, as well as products and services.

Access Credit Union serves Southern Manitoba with 17 branches, 260 employees, over $2.96 billion in assets, more than 52,000 members, and is the fourth largest credit union in Manitoba.

Crosstown Civic Credit Union serves Winnipeg with nine branches, 160 employees, over $2.58 billion in assets, more than 37,000 members, and is the fifth largest credit union in Manitoba.