Sizing up for the future

Mount Lehman Credit Union and G&F Financial Group in merger discussions

Sizing up for the future – Mount Lehman Credit Union and G&F Financial Group in merger discussions 

Mount Lehman Credit Union and G&F Financial Group are pleased to announce they have engaged in merger discussions. Mount Lehman Credit Union was seeking a like-minded and trusted merger partner to serve their membership, and after an extensive search, they found a partner in G&F. By connecting and working together, the credit union will better serve their collective membership, employees and communities, through scale and combined resources. 

The two credit unions serve similar markets in the Lower Mainland. In addition to providing expert advice, G&F will be able to offer Mount Lehman Credit Union members increased products and services such as Apple Pay, Samsung Pay, Google Pay, updated digital tools for online and mobile banking, mobile services for mortgages, investments, retirement planning, business and insurance. Both credit unions are committed to providing continued value to members built on trust and relationships.  

Cooperation among cooperatives is one of the seven Cooperative Principles and a core value at G&F. Working together to create scale to better serve members, employees and local communities is important, to better compete in the growing and fast evolving financial services space, where size is becoming more and more important. Many credit unions across the country are realizing the benefits of connecting through a merger.  

After receiving a positive membership vote by Aldergrove Credit Union members, G&F Financial Group and Aldergrove Credit Union merged on August 1, 2021. G&F Financial Group and V.P. Credit Union, a local credit union based in Vancouver, are also engaged in merger discussions. Read more.  

The combined organization (G&F Financial Group, Aldergrove Credit Union, Mount Lehman Credit Union, V.P. Credit Union) would operate under the legal name Gulf and Fraser Fishermen’s Credit Union, doing business as G&F Financial Group, and would provide a network of 28 branch locations and four insurance locations, to a combined membership of over 58,000, spanning across Lower Mainland communities from Vancouver, Richmond, Burnaby, New Westminster, Port Coquitlam, Surrey, Langley, Aldergrove, Abbotsford and Mission. 

Benefits of the merger

Our employees and members will experience many benefits through the merger, some of which include:

  • Financially stronger, we will have more resources to invest in our future
  • A larger pool of assets will allow for greater and faster expansion of services to members and communities
  • Ability for greater investment in areas such as digital and community
  • More career opportunities for employees within a larger organization 

Click here to read the full press release.

About Mount Lehman Credit Union

Mount Lehman Credit Union is a financial institution situated in the middle of the Fraser Valley. With a history of 78 years in business, this financial cooperative has a member-oriented method of providing service. They measure success in terms of their personal relationships and their commitment is to their members.

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