Announcing the Creation of FirstNova Credit Union, Serving Annapolis Valley, Cumberland and Colchester
For Immediate Release
April 27, 2012
CAMBRIDGE, NS — Mike Wark, CEO of Valley Credit Union, and Darrell Kuhn, CEO of Community Credit Union of Cumberland Colchester, along with their respective boards of directors, are pleased to announce that as of July 1, 2012, the two credit unions will amalgamate and become FirstNova Credit Union. On Wednesday, April 25th, members of Community Credit Union of Cumberland Colchester voted in favour of the motion to amalgamate, and the following evening members of Valley Credit Union did the same.
The CEO of the amalgamated credit union will be Mike Wark, who said, “This is a tremendous opportunity for our members across the province to see benefits. Merged, we can provide more products and services, with greater efficiency than the individual credit unions could before. We will have more opportunities for staff to specialize, and that means more knowledge and better financial guidance for our members.”
Darrell Kuhn, who will take on the role of Executive Vice President of FirstNova Credit Union, agreed: “Together, we’re stronger.”
The head office of FirstNova will be located in Cambridge, Nova Scotia, and the board will comprise six representatives from each board. The credit union will employ more than 100 Nova Scotians.
The merged credit union will serve over 20,000 members, with combined assets of $210 million, making FirstNova the third largest credit union in Nova Scotia.