Casera Credit Union &Oak Bank Credit Union
Two Great Credit Unions, One Prosperous Future
The board of directors believes the As a member, you’ll have access to six-day service
proposed amalgamation of Casera Credit within a larger branch and ATM network, including
rural branches in Oak Bank and Birds Hill. You’ll benefit
Union and Oak Bank Credit Union — two from a wider range of wealth management options
equally dynamic and thriving financial with service from an expanded team of certified wealth
service providers — is a positive and management advisors. Our improved operating
prosperous development. Both credit efficiency will lead to greater financial strength, which
unions are financially solid, focused on means we’ll be able to invest more in our communities,
expand our product lines and technology and further
strong corporate governance, dedicated
enrich our high levels of personal service.
to personal service and committed to
the communities we do business in. Employee Benefits
As a result of this amalgamation, we The amalgamation will not result in any branch
trust that our members, employees and closures and our combined staff will have access to
more quality training and development programs and
communities will all benefit from a larger
greater possibilities for advancement. Joining forces
and financially stronger credit union. will also allow for enhanced career opportunities for
our current employees.
Both Casera and Oak Bank credit unions are equally
committed to their communities. A combined credit
union means more resources to invest in community-
building programs and initiatives. As well, we’ll be
able to expand value-added services to community
Answers to Q] Why was Casera chosen
as a name?
Your Questions A] Casera Credit Union is recognizable in
a larger market. When we invested in changing our
name from Transcona Credit Union, studies showed
Why is amalgamation necessary? that generic, non-geographic names are more readily
accepted in new neighbourhoods. A generic name
We do business in a highly competitive such as Casera also positions us to take advantage
marketplace and rising technology and of growth opportunities.
development costs are making it difficult for smaller
credit unions to remain competitive. Increased
financial resources will create a stronger, more
Q] Who will lead the credit union?
vibrant credit union. We believe that to expand and
grow — to provide the best products and services
A] Both credit unions will be well represented
on the new board of directors, which will be
to our members, enhance career opportunities
comprised of seven current members of Oak Bank’s
for our employees and increase financial support
board and eight directors from Casera. Brent Thomas,
within our community — this amalgamation with
Chief Executive Officer of Casera, will be the credit
Oak Bank Credit Union is a positive step toward
union’s CEO and David Hergesheimer, currently
ensuring a prosperous future for our members and
serving as Oak Bank’s Acting General Manager, will
become Manager, Lending Services. Marlene Bach
will be Manager, Finance and Administration.
How did we get to this point?
A] Amalgamation talks between Casera Credit
Union and Oak Bank Credit Union began in early 2007.
At our respective Annual General Meetings in April, • over 20,000 members
information about the preliminary discussions was • combined assets of $284 million
shared with members. A working group of directors • five branches, eight ATMs
and managers from both credit unions signed a letter • 72 employees
of intent in June and began exploring the benefits
and guiding principles of the new credit union. A
comprehensive business case was developed which For More Information
showed that the amalgamation was a sound decision
David Abel President
and a beneficial move for both organizations. This
Phone (204) 791-5419 E-mail firstname.lastname@example.org
sets the stage for a formal vote of each credit union’s
members at Annual General Meetings in April. Brent Thomas Chief Executive Officer
Phone (204) 958-6300 E-mail email@example.com
Q] What makes Oak Bank You’re invited to attend our Annual General
a good fit for amalgamation? Meeting on Wednesday, April 2, 2008 at
A] We hold a common geographic market area
the Club Regent Casino Hotel, 1315 Regent
Avenue West. Registration will begin at 6:00
and share the same core values of exceptional member
service, commitment to community, financial stability p.m. with the meeting to follow at 7:00 p.m.
and industry success. Oak Bank’s two branches in rural Please RSVP to Karen at 958-6302.
Manitoba complement our locations in Winnipeg.
Together, the combined talent, resources and
capabilities of our two organizations will help create
a vibrant, new credit union.