Innovation Credit Union gears up for vote to go national
Innovation Credit Union is gearing up for its big vote to determine whether it will change to become a federally-regulated credit union in the future.
About 65 members, staff and visitors attended an information meeting at the Dekker Centre, Tuesday to learn more about the company’s proposal and the upcoming member vote.
Chief executive officer Daniel Johnson offered some insight into what the credit union hopes to achieve by going national and discussed some of the challenges if it stays status quo.
According to Johnson, the company is concerned about increased competition in the Western Saskatchewan region where it currently operates. Previously, Innovation competed mainly only with other Saskatchewan financial institutions. Now, through the Internet, businesses from outside the province also compete to attract customers from the local region. More companies, not just financial institutions, are also branching out into the financial service industry, adding to that competition.