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Sowing the seeds of support in our communities.
Notice of Annual General Meeting
Date: February , 
Time: Registrtion : pm Meeting Start : pm
Place: Wainwright Communiplex
Building a Better Credit Union
Wainwright and Wetaskiwin Credit Unions are very pleased to announce their intention to merge operations
creating a new, stronger central Alberta credit union. The new credit union will exceed $530 million in assets,
serve 13,000 members and employ 100 staff across its seven branches and single agency office. The new combined
credit union will have greater resources to invest toward future member services, technology and competitive
positioning, creating benefits for members across the region.
On behalf of your Board of Directors, we hope that you will support our recommendation and vote YES for the
amalgamation. The name of the new credit union will be announced at the Annual General Meeting. Until such
time as the name is announced, it is being referred to as “Amalco” (short form for amalgamated credit union).
For more information about the partnership between Wainwright and Wetaskiwin, please refer to
www.BuildingaBetterCU.ca.
Important Information
At the Annual General Meeting of members, members will be asked to consider the passing of the following
Special Resolution, the Special Resolution Motion is provided below:
Having been presented with the Amalgamation Agreement for the amalgamation of the Wainwright Credit Union
Ltd. and the Wetaskiwin Credit Union Limited and upon hearing the recommendation of the Board of Directors
of the Wainwright Credit Union Ltd. that it is in the best interest of the Wainwright Credit Union Ltd. to enter
into the Amalgamation Agreement and to continue operations as the Amalco, the members approve the
Amalgamation Agreement.
Summary of the Amalgamation Agreement:
The Amalgamation Agreement means and contains the terms and conditions upon which the Wainwright Credit
Union Ltd. (“Wainwright”) will amalgamate their members and business with the Wetaskiwin Credit Union
Limited (Wetaskiwin”) in accordance with the Credit Union Act (Alberta).
The Board of Directors of both Wainwright and Wetaskiwin have completed the necessary due diligence and they
are recommending that the members of Wainwright and Wetaskiwin approve the Amalgamation Agreement.
The Board of Directors for Wainwright and Wetaskiwin have determined that it is in the best interests of both
credit unions to amalgamate.
The amalgamated credit union will have seven branches and one agency office located throughout northeast central
Alberta, comprised of the current six Wainwright branches and agency office and the current branch of
Wetaskiwin.
The Amalgamation Agreement also includes the bylaws for the Amalco.
The Board of Directors of Wainwright and Wetaskiwin have approved the bylaws for the Amalco.
The Board of Directors of the Amalco will continue to be elected throughout the Amalco region.
The Members of both Wainwright and Wetaskiwin will become members of the Amalco with all of the rights and
privileges they currently enjoy. The Amalco will continue to operate under the existing management structure.
The head office for the Amalco will be located in Wainwright, Alberta, the current CEO of Wainwright will be the
CEO of the new credit union while the current General Manager of Wetaskiwin will take on the position of
Vice-President Operations.
Wainwright has a strong foundation of loyal members and talented staff and the communities Wetaskiwin serves
present growth opportunities for the future. By joining Wainwright, the equally strong albeit smaller Wetaskiwin,
will have access to a wider range of products and services and access to specialty management expertise that will
create immediate benefits for members. The two credit unions will generate greater economies of scale that are
increasingly important in the current and emerging competitive environment. The combined assets of Wainwright
and Wetaskiwin will result in a $530 million credit union serving over 13,000 members.
The estimated transitions costs to complete the amalgamation, including professional fees, amalgamation of
internal systems, branding, signage, and related costs is estimated to be less than $500,000.
Currently members of Wainwright each hold 5 shares at par value of $1 per share and Wetaskiwin members hold
25 shares at a par value of $1 per share. Following the amalgamation the Amalco will function with a $5
membership share requirement (5X $1 share).
If approved by the members of both Wetaskiwin and Wainwright and upon the approval of the Credit Union
Deposit Guarantee Corporation, the regulators, the Amalgamation Agreement would take effect on April 1, 2015.
A copy of the complete Amalgamation Agreement will be available at the Wainwright Annual General Meeting
and the Wetaskiwin Annual General Meeting.
An advance copy of the Amalgamation Agreement may be requested through any branch of the Wainwright Credit
Union Ltd. or Wetaskiiwn Credit Union Limited.
*The proposed name of the Amalco will be presented at the Annual General Meetings.
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