Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

SCU currently has $3.5 M in retained earnings. Will we lose that money when we merge with Vancity?

April 26, 2017Currently Earnings lose merge money SCU Vancity

0

Posted

SCU currently has $3.5 M in retained earnings. Will we lose that money when we merge with Vancity?

1 Answer

0

Posted

A. While Squamish members will share their $3.5 million in equity with Vancity as part of the merger, as members of Vancity, Squamish members will share ownership of a credit union with $440 million in equity. Our joint membership and resources will be put to use helping our fellow credit union members – just like it was 60 years ago when we started with $75.00.