On May 1, 2024, Servus and connectFirst Credit Unions completed their landmark merger, approved by the Credit Union Deposit Guarantee Corporation and over 84% of each credit union’s membership. This merger, first announced on March 3, 2023, created one of Canada's largest credit unions, combining the strengths and capabilities of both institutions. The newly unified credit union now serves approximately 500,000 members across 140 branches in 80 Alberta communities, supported by more than 3,000 employees.

Ian Burns, previously President and CEO of Servus, became the President and CEO of the merged entity. Burns highlighted the merger's significance, noting it as the largest in Canadian credit union history and a timely move in the evolving financial services landscape. The merger enables significant investments in new technologies while maintaining cooperative values.

The merger will see both credit unions continue their operations as they plan a longer-term integration effort, focusing on unifying member-facing functions to enhance benefits for members. Perry Dooley, former Chair of Servus's Board, emphasized the combined resources and expertise aimed at improving the financial future for members and communities across Alberta.

MLT Aikins acted as joint transaction counsel and legal advisors to connectFirst and Servus throughout this historic transaction.