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Merger creates North's largest member-owned financial institution (5/02)

Sudbury-area Nickel Centre Credit Union will integrate its four branches with Sault Ste. Marie-based Northern Credit Union.
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Sudbury-area Nickel Centre Credit Union will integrate its four branches with Sault Ste. Marie-based Northern Credit Union. Northern Credit Union recently announced the two credit unions would join forces to create a stronger banking entity, which tailors to the needs of northerners.

"We have an opportunity in Northern Ontario to create a real alternative to mass market banks in our communities - a financial institution that is tailored for life and growing businesses here, as opposed to the dictates of Toronto," says Al Suraci, CEO of the Northern Credit Union. "Merging with Nickel Centre is an important step in that direction."

Following the merger, which will be finalized on July 1, Northern Credit Union will total over 40,000 members, with 22 branches in 17 communities and over $400 million in assets, making it the largest member-owned financial institution in Northern Ontario. All current Nickel Centre members/customers will be accorded full member status with Northern Credit Union.




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