WINNIPEG, November 14, 2024 – Three Manitoba financial cooperatives whose members voted overwhelmingly to merge in June announced their board of directors, chief executives and senior leaders for the new entity today. Not surprisingly, it reflects the unique attributes that each bring to the merger.
The merger partners had always maintained the board and employees of the new entity would fairly and accurately reflect the talent and deep experience of Assiniboine Credit Union, Caisse Financial Group and Westoba Credit Union.
“We have spent the last few months making sure we will have the right leadership team in place that includes all of the senior leaders from the three organizations,” said President & CEO Kevin Sitka. “If we’re going to build the most uniquely Manitoban credit union, we’ll need all the talent, experience and passion that got us this far”.
Last month, Assiniboine Credit Union / Caisse Assiniboine announced its board of directors will be chaired by Garnet McBurney, the former chair of Westoba Credit Union – a clear recognition of how important the rural and agriculture sector will be to the new entity.
As well, the commitment to ensure that a minimum two of the 12-person board would be Francophone has been exceeded. In fact, 42 percent – or five out of 12 board members – will be Francophone when the merger is official on January 1, 2025.
Current President & CEO of Westoba Jim Rediger, and Caisse CEO Joël Rondeau have joined the executive team reporting to Kevin Sitka. They will directly guide what will be a complex merger considering the size, geography and diversity of the three organizations.
Additionally, the leadership teams from Assiniboine, Caisse and Westoba have accepted positions at the senior leadership level in the new Assiniboine Credit Union / Caisse Assiniboine.
“I don’t think we could have imagined a better team to lead us. I am very proud that the entire Caisse leadership that I’ve been working with all these years will be there with me as we create the new Assiniboine Credit Union / Caisse Assiniboine together,” said Rondeau, Chief Strategic Project Officer of the new organization. “I’m inspired by the fact that at least 26 per cent of all the individuals who are on the board, executive and senior leadership teams are Francophone”.
The rest of the Caisse leadership team will take on the following roles:
- Bernard Marcoux – VP, IT Operations & Infrastructure
- Eric Rheaume – VP, Talent Acquisition and HR Merger Integration Lead (Term)
- Francis Normandeau – VP, Treasury
- Francois Lambert – VP, Agricultural Financial Centre
- Marc Rioux – VP, Retail
- Sophie Ethier – VP, Commercial Support
- Sylvie Laurencelle-Vermette – VP, Communications & French Language Services
The agriculture, rural and urban portfolios just got stronger with the combined leadership of Assiniboine, Caisse and Westoba, who have practical experience working in rural Manitoba, with farmers and small, medium and large agricultural and commercial businesses.
“When we look at the board, executive and senior leadership team, over 50 per cent of those individuals have lived in a rural community or has career experience in agriculture. This further confirms that this merger is the right thing for our members. Our combined leadership team has deep experience in this area that’s going to benefit our membership and make a difference in our rural and urban communities,” said Rediger, Chief Strategic Project Officer of the new organization.
The new entity will have 216,000 members, $9.6 billion in assets and the widest geographic reach of any credit union in Manitoba.
The merged organization will continue its dedication to work with partners for mutual benefit and the common good, dedicated to the International Co-operative Principles and the B Corp Declaration of Interdependence. We believe a merged credit union will have even greater capacity to create value for our members, and communities we serve.
“It is no surprise that the leadership team is well balanced. The leadership accurately reflects what each organization brought to the table in members, financial assets and experienced employees. We are all excited that they have accepted the challenge to build the most unique credit union in Manitoba,” said Sitka.
