Members of Atlantic Edge Credit Union, EasternEdge Credit Union and Hamilton Sound Credit Union voted in favour of the merger. We are grateful to members for your overwhelming support and look forward to working as one credit union that benefits all members, employees, and communities.

On January 1, 2024, the new credit union will be known as Atlantic Edge Credit Union. Over the short-term, your day-to-day banking will be business as usual. As we work through our integration plan, we will keep members informed and advise you regularly of any changes to services.

Working together, we are committed to serving our community and the current and emerging needs of members with exceptional employees and accessible, competitive products and services.


Merged Credit Union




$470 million





What to Expect


For members

  • Enhanced service, stronger relationships, expanded product portfolio, and digital services
  • More competitive rates and fees
  • Greater access to banking services across a combined network of 15 locations
  • Increased investments in digital banking services to bring more choice and convenience to all members.
  • Greater access to specialized financial expertise

For employees

  • Career growth and professional development opportunities
  • Employees can continue to work in the communities they love
  • A stronger, growing organization that retains and attracts the talent needed to support our members and business goals

For community

  • Local decision-making in the best interests of our collective membership and the communities we serve
  • Strengthened community support and engagement with opportunities to build partnerships that create meaningful impact across Newfoundland and Labrador

Our Locations

Our Combined Member Network

We are committed to maintaining our combined network of 15 branch locations. Members will continue to benefit from locally based banking and personalized service from staff they know.

The Timeline

Important Dates

June 2022

The Boards of Directors from the partner credit unions began discussions for a potential merger in 2024. The process to explore a merger was formalized in June 2022.

November 2022

Public announcement that the partner credit unions are in merger discussions.

January to May 2023

Members will be engaged and encouraged to participate in the voting process.

January 2024

If membership approves and the merger gains the consent of the regulator, the new merged credit union will take effect January 1, 2024.

May 15, 2023

Annual General Meeting and Special Meeting of Members for each credit union

May 15 – 19, 2023

Member voting

January 1, 2024

Legal Date for Merged Credit Union

Credit Union History

Atlantic Edge Credit Union was formed with the amalgamation of Eagle River Credit Union and Leading Edge Credit Union in 2022. A full-service credit union, Atlantic Edge has assets of $340 million and serves over 17,500 members across Newfoundland and Labrador.

EasternEdge Credit Union began as Newtel Credit Union in 1976, a closed bond credit union for employees of Newfoundland Telephone Company. In 2004, Newtel Credit Union membership was opened to the public followed by a name change to EasternEdge Credit Union in 2005. In 2011 EasternEdge Credit Union amalgamated with Horizon Credit Union (formerly CBC). Today it has one branch located in Mount Pearl and it serves 2,800 members with assets of $82 million.
Hamilton Sound Credit Union was first opened in 1991 with one branch in Carmanville and two employees. Since then, it added two other branches located in Triton and Gander. Today it serves nearly 3,500 members with assets of $55 million.

Frequently Asked Questions


Why are the boards of Atlantic Edge Credit Union, EasternEdge Credit Union, and Hamilton Sound Credit Union recommending a merger?

We have completed an extensive due diligence process that shows there is significant value for our members, employees, and communities in uniting our credit unions into one new stronger credit union. Together we can:

  • strengthen the benefits for members by gaining added expertise and offering more competitive products, services, rates, and fees
  • realize operational savings that can be reinvested for the benefit of our members and communities
  • be better positioned for future growth and sustainability
  • provide greater career growth and professional development opportunities for our employees without the need to relocate; and
  • develop a stronger recruitment strategy to attract the talent needed to support succession and growth plans for the board, management, and specialized staffing.

What will the merger mean for members?

We see only positive benefits for members. Together, we will be able to provide better service with an expanded product portfolio, digital services, member support and more competitive rates and fees. By combining operations, we can realize savings that can be reinvested for the benefit of our members and communities.

Will we lose any services if the proposed merger moves forward?

No, quite the opposite. You will continue to receive the same services you currently enjoy plus have access to new products and service offerings as we grow together.

Will fees change as a result of the proposed merger?

Each credit union regularly reviews its service charges to make sure they are fair and competitive. This process will be followed in the new organization. Over time, the service charges will be standardized for the new credit union.

Will my community have a say in a new merged credit union?

The new credit union will remain a strong contributor to the communities it serves for years to come. Our combined contributions will enable us to invest more in our members and our communities.

Will we lose our identity if we merge?

The three partners are committed to the co-operative values, community roots and ensuring the friendly, professional financial service members have come to expect remains strong. In addition, by maintaining local branch presence, the new credit union will celebrate and work hard to strengthen the local connections that are valued by all members.

How would employees be affected?

We are committed to maintaining current levels of employment. As part of the normal course of business, the new credit union would see some staffing reductions through retirements, but no one will lose their job as a direct result of the merger.

Will branches close as a result of a merger?

We are committed to maintaining the combined branch network of 15 locations across Newfoundland and Labrador.

Why do we need to be bigger, we’re not a bank?

This proposed merger isn’t about being bigger, it’s about building a stronger credit union and maintaining local values, but with the scale needed to support sustainable growth and competitiveness for future generations.

Are any of the credit unions in financial distress?

Each partner credit union is strong and performing well financially. These credit unions have experience successfully partnering with each other and collaborating to achieve shared goals.

Where will the head office be located?

In recognition of the vast geographic area the new credit union will cover and its importance to the communities it serves, we will have a decentralized head office structure. This means that it isn’t necessary for corporate staff to work in one central location.

What will the credit union name be?

The name of the new credit union will be Atlantic Edge Credit Union.

Who will be the CEO of the merged credit union?

After careful consideration of the future organizational needs, Cory Munden, CEO of Atlantic Edge Credit Union will be appointed CEO of the new entity.

When will members vote?

Members will be asked to vote to approve the merger in May 2023.


Get In Touch

Want to talk to us directly? Simply click on your credit union’s name below and send us a brief message; one of our team members will be in touch.