News Release – Merger to create major Canadian wealth management firm

December 18th, 2017

To: The members of Saskatoon City Employees Credit Union

You have undoubtedly learned of the following news release and questioned how this will affect you as our member.


“Desjardins, provincial credit union centrals and CUMIS to merge the businesses of their subsidiaries, Credential, Qtrade and NEI, to create major Canadian wealth management firm.”

New combined company, Aviso Wealth, will focus on meeting the expanding wealth management

needs of credit union members and other partners and clients across the country. “

All deposits held directly with Saskatoon City Employees Credit Union are fully guarantee by our Credit Union Deposit Guarantee Corporation and this merger will not directly affect your deposits or accounts held with the our Credit Union.

The purpose of this merger is to provide Canadian Credit Union members with alternatives to the guaranteed deposits, to provide other wealth management services and strengthen the co-operative /Credit Union wealth management services. Our Credit Union has in the past offered mutual fund investments through Credential Asset Management and NEI. Currently, we have made arrangements with our partner Credit Union to offer more complete wealth management services.( Please contact our office for further details.)

Unless you hold deposits directly with any of the wealth management companies involved in the merger you will not be directly affected by the merger. (Please contact our office for further information.)

We thank-you for your patronage and look forwarding to serving you and your family!

General Manager,

Dennis Lozinsky

Please view additional documents here:

Aviso Wealth – Press Release_EN Final _ Dec12

Aviso Wealth FAQ


City Hall, 222 3rd Avenue North
Saskatoon, SK
S7K 0J5

Tel: 306-975-3280
Fax: 306-975-7806