Westoba Credit Union shows a profitable first three quarters in 2021. While our overall profitability is up, the long-term low profitability of some of our branches is not sustainable. As a result, we have made the decision to permanently close three branches (La Rivière, Glenboro and the Portage Avenue branch in Winnipeg) effective March 4, 2022. This decision is based on a five-year trend analysis of financial performance, business metrics, and community demographics.
Members will continue to receive knowledgeable and friendly service from our staff through our 13 branches and our Virtual Services department. Westoba is providing jobs for all impacted employees, and we are working closely with them to offer rewarding employment opportunities with Team Westoba. We are committed to investing in our communities and these closures will not affect that investment.
All impacted members will receive a letter notifying them of the changes. Our Westoba team will also be calling impacted members to discuss the transition.
There will be no interruption to your services (e.g., cheques, MemberCardTM, automated deposits, online banking and withdrawals).
“We realize this is a change for our members and employees, and we are here to support them through this transition,” says Jim Rediger, President, and CEO of Westoba Credit Union. “Our teams are prepared to talk about the different ways members can bank, including information on both traditional and digital options.”
As the shift to digital banking progresses, Westoba members have embraced these trends, including:
- Doubling the use of e-transfers over the last four years.
- Increasing the use of online banking and Westoba mobile app by 200% over the last five years.
“It is important for Westoba to be nimble and adjust to remain profitable and aligned with where banking is going,” says Garnet McBurney, Westoba Credit Union Board Chair. “The pandemic accelerated the member trend of switching to online and virtual banking, but a lot of the groundwork for this shift happened over the past number of years. Westoba’s services continue to evolve to embrace these trends.”
To stay relevant in this changing market, Westoba invests in the newest technology, banking innovations, and our people to deliver excellent service to our 37,000 plus members. Members have many ways to bank with us and can expect improvements in 2022, including:
- New online banking and mobile app platforms for Westoba Credit Union and MAXA Financial. This upgrade will give our members a more interactive digital experience.
- Business Banking and Financial Solutions teams are more mobile and can visit members where it’s convenient for them.
- Implementing electronic signatures through DocuSign enables members to sign documents from anywhere electronically.
If you have questions or concerns, please get in touch with us at 1-877-WESTOBA or infowcul@westoba.com.
Frequently Asked Questions
If members would prefer a different branch other than the one listed above, they can let us know by visiting any Westoba Credit Union location or speaking to our Virtual Services team by calling 1-877- WESTOBA (937-8622) by December 31st.
Westoba is closing three branches: Glenboro, La Riviere and Winnipeg’s Portage Avenue branch on March 4, 2022.
This decision is based on a five-year trend analysis of financial performance, business metrics, and community demographics. All Westoba branches were a part of this analysis.
Members will continue to receive knowledgeable and friendly service from our staff through our 13 branches and our Virtual Services department. We are taking every step to make this as smooth as possible for our members. However, we know there will be some impact, and we are committed to working with our members to help them adjust.
New branches will be assigned, and if members would prefer a different branch, they can let us know by visiting any Westoba Credit Union location or speaking to our Virtual Services team by calling 1-877- WESTOBA (937-8622) by December 31st.
- There will be no interruption to your services (e.g., cheques, MemberCardTM, automated deposits, online banking and withdrawals).
- If you have a safety deposit box in Glenboro, La Rivière or the Portage Avenue branch in Winnipeg, you will need to collect your items, close the safety deposit box and return all keys by December 31, 2021.
Letters have been mailed to members at these branches, and our www.westoba.com website will be up to date with all information.
We are working with members the best we can to support them through this transition. There will be regular communication, so members are aware of the process.
Nothing will change regarding account information. Your cheques, MemberCards, automated debits and credits, will continue as usual. Your online banking and mobile app login credentials will remain the same. It is only your primary branch location in our system that is changing.
Members with safety deposit boxes in Glenboro, La Rivière or the Portage Avenue branch in Winnipeg will need to collect their items, close the safety deposit box and return all keys by December 31st, 2021.
If you would like another safety deposit box at your alternative branch, we can help coordinate this and check the availability.
Online banking is just one way that you can bank with us. We have 13 branches, ATMs, a mobile app that can be used on your smartphone, Mobile Mortgage Specialists and Business Advisors that bring our services to you. Our Virtual Services team (1-877-WESTOBA) can complete almost all transactions over the phone, with extended hours.
Talk with us on ways to bank by calling 1-877-WESTOBA (937-8622).
With these closures, there are no changes to your account packages or changes to your account.
