Two of B.C.'s largest credit unions are planning to merge.
North Vancouver-based North Shore Credit Union has entered into discussions with Abbotsford-based Prospera Credit Union that could create the third largest credit union in the province.
The combined institution would retain the Prospera brand and have a membership base of approximately 140,000 and more than $4 billion in assets. That would leapfrog it ahead of Langley-based Envision Financial, which has assets of roughly $3.4 billion.
The credit unions say they will begin due diligence and bring the merger to a membership vote sometime in September.
Their proposal follows the April 1 completion of the Vancity and VanTel/Safeway Credit Union merger.