Westoba Credit Union (MAXA Financial is a subsidiary) shows a profitable first three quarters in 2021. While our overall profitability is up, the long-term low profitability of some of our Manitoba 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.
All impacted Westoba members will receive a letter notifying them of the changes. Our Westoba team will also be calling impacted members to discuss the transition. 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.
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.