Merger between the Caisse des Rivières de Pontiac and the Caisse populaire Gracefield: members vote to maintain the status quo

Merger between the Caisse des Rivières de Pontiac and the Caisse populaire Gracefield: members vote to maintain the status quo

On September 14 and 15, extraordinary general meetings were held to present a merger proposal to the members of the Desjardins Rivières de Pontiac credit unions and the Caisse populaire Desjardins Gracefield. Following these meetings, 64.46% of the members of the Caisse des Rivières de Pontiac voted in favor of the proposal presented to them. For their part, a majority of the members of the Caisse populaire Gracefield voted in favor of the proposal, with 76.57% in support. It should be noted, however, that 66.6% of the votes were required for the proposal to pass. Consequently, the merger will not take place.

The goal of the proposed merger was to create a new credit union, the Caisse Desjardins des Rivières-du-Nord-de-l’Outaouais, which would have served more than 12,000 members across four branch locations. The board members of the two credit unions involved respect the opinion of the members of the Caisse des Rivières de Pontiac and the democratic process. However, they remain convinced that this merger represented a unifying project for both credit unions that would have enabled them to address current and future challenges.

Over the coming months, the members of both boards of directors will continue their deliberations, as this union represented more than a simple merger for the credit unions; it was an opportunity to work together to ensure the long-term viability of both institutions.