Estevan-based Spectra Credit Union is looking for a merger partner or co-operative partnership opportunities, according to Tim Schroh, the credit union's chief executive officer.
"While Spectra is financially strong, the [Spectra] board recognizes the market pressures to stay competitive in an increasingly sophisticated and regulated industry," he explained.
Spectra is the sixth-largest credit union in Saskatchewan, based on assets with $700 million, while Conexus, based in Regina, is the largest, with $3.4 billion in managed assets, followed by Affinity Credit Union in the Saskatoon region with $2.7 billion.
Schroh said Spectra is now of the size and strength to take advantage of its potential.
Spectra currently has 160 employees within its 10 branches with a headquarters office in Estevan. Spectra boasts a membership of more than 20,000.
from Western Investor March 2012
