Welcome, Mount Lehman Credit Union members!
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. In October, 2021, our regulator, the BC Financial Services Authority, gave consent for Mount Lehman Credit Union to proceed with a member vote. Their members voted on the merger from November 30 to December 21, 2021 and results show that 88.1% of voting members agree with the merger.
To our new members: when you visit your branch in January, you’ll be able to request similar rates for loan and deposit products as those offered by G&F. You'll notice the name will change to Mount Lehman Financial, which is an operating trade name of our legal name, Gulf and Fraser Fishermen's Credit Union. There won’t be any other significant changes in January.
Starting January 31, you can continue to visit your branch, or choose from any of our 24 branches for most of your day-to-day banking.
Since there’s a lot of work to do in bringing our credit unions together, we ask for your patience and understanding as we work toward integrating your banking system with G&F’s system in the Fall of 2022.
If you need assistance, please call our Member Hub at 604-419-8888.
We look forward to serving you!
Why merge now?
By connecting and working together, the credit union will better serve our collective membership, employees and communities, through scale and combined resources.
The merger of our credit unions will enable us to strengthen our combined resources creating opportunities to provide increased product offerings and specialized expertise to our members, as well as an engaging and exciting place for our employees to work and grow their careers. Combining resources will allow us to also make a greater impact in our local communities.
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. V.P. Credit Union, a local credit union based in Vancouver, also voted in favour of merging on December 1, 2021. Read more.
The combined organization (using the trade names: G&F Financial Group, Aldergrove Financial, Mount Lehman Financial, V.P. Financial) operates under the legal name, Gulf and Fraser Fishermen’s Credit Union, and provides a network of 28 branch locations (with Guildford Branch opening Spring 2022) and four insurance locations, to a combined membership of over 57,000, 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
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 to their members.
Learn more: www.mtlehman.com
We want to hear from you!
Please connect with us with your comments and questions.