The motion to merge Estonian Credit Union (ECU) together with the Latvian Credit Union (LCU) and amalgamate as Northern Birch Credit Union passed at Special Meeting of ECU Members on November 27th, with 94% voting in favour of the merger. The following evening, LCU members approved the resolution to merge with ECU by voting 98% in favour. This merger will be the first inter-ethnic credit union merger in Ontario.

According to the press release issued by the Estonian Credit Union, the name Northern Birch reflects an opportunity to bridge cultures, where north meets north. It represents the feeling of growth and sustainability. The birch tree is unique to the north, it is hardy and persistent. It often grows in a cluster, in groups scattered through northern forests – like a community.

The amalgamation as Northern Birch Credit Union will be effective January 1, 2020 and the new brand identity will be implemented in a phased approach over the coming year.

LCU brings with them two branches; one in the Latvian Cultural Centre in Toronto and the other in Hamilton. The amalgamated credit union will work to provide access to accounts and to make ECU products & services available at these branches as quickly as they can.

Eestlased Kanadas

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