Ernie Remillard, a hometown boy who left Dryden and came back after many years in Southern Ontario to head up the Northern Lights Credit Union as CEO in 2012 shared with the club NLCU’s merger with the Thamesville Community Credit Union (TCU) and the formation of a new credit union to be called Nexus Community Credit Union.
 
Nexus CCU became effective on January 1, 2016 and will have 6 locations in Northern Ontario and 3 in Southern Ontario.
 
​Remillard described some of the highlights of the merger:
 
  • the model supports rural growth across Northwestern and Southwestern Ontario in the Thamesville area
  • the new organization will support over 16,000 Members in 9 communities
  • will have $210M in Assets and 78 Employees
  • enhanced dividend distributions planned in the forecast for 2016 to our Member/Shareholders
  • will ensure the sustainability of the Credit Union
  • pursuing an aggressive growth strategy and hope to have at least 700 M in assets in five years
  • will enable to implement technology advances in the coming years with Mobile Banking and Online Loan Applications
  • will attract younger members
  • will provide challenges and opportunities for Employees
  • the majority of Management and Governance Board remains in Northwestern Ontario
  • the new signage and branding will be released around the beginning of March.
 
Rembillard concluded by emphasizing that the goal of Nexus is to “to grow a much larger, sustainable credit union that is focused exclusively on the financial services needs of people living in smaller communities and rural areas across Ontario.”
 

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