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Abbotsford’s Mount Lehman Credit Union merges with G&F Financial Group

MLCU members vote 88.1 per cent in approval of merger, which came into effect on Jan. 1
The Mount Lehman Credit Union has announced a merger with G&F Financial Group. (Facebook photo)

Mount Lehman Credit Union members have voted in favour of merging with the Burnaby-based Burnaby-based G&F Financial Group (an operating trade name of Gulf and Fraser Fishermen’s Credit Union).

The merger was made effective on Jan. 1.

MLCU board members made the decision to pursue a partnership with G&F Financial Group in January of 2021, and a membership vote was held from Nov. 30 to Dec. 21.

The voting results saw 88.1 per cent of voting members agree to the merger. The MLCU is located at 5889 Mount Lehman Road.

“Mount Lehman Credit Union has proudly served our local community for nearly 80 years,” stated Chris Bodnar, MLCU board chair. “While size may be relative, we know partnering with a like-minded and local credit union now is in the best interests to meet the future needs of our members, employees and community.”

The MLCU now joins a group that also includes Aldergrove Credit Union and V.P. Credit Union. The merging with ACU occurred on Aug. 1 and V.P Credit Union went into effect on Jan. 1, 2022.

Gulf and Fraser Fishermen’s Credit Union. Mount Lehman Credit Union will use the operating trade name Mount Lehman Financial for an interim period while the combined credit union undertakes a brand refresh.

The combined network of four organizations now spans 28 branch locations and four insurance locations. Membership is now over 58,000, spanning across the Lower Mainland and Fraser Valley. Combined total assets under administration will be approximately $4.9 billion.

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RELATED: Aldergrove Credit Union and G&F Financial vote to merge

Ben Lypka

About the Author: Ben Lypka

I joined the Abbotsford News in 2015.
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