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G&F Financial Group and Aldergrove Credit Union: Joining Forces


BC Business G&F Financial Group

G&F Financial Group and Aldergrove Credit Union have merged to provide members a more robust and convenient experience.

Challenged by economic uncertainty, the global digital transformation, and heightened consumer expectations, the Canadian financial services industry is forever changing the way people bank.

A merger between G&F Financial Group* and Aldergrove Credit Union brings two like minded, community focused institutions together to address these pressing issues.

“Merging has provided us with the resources we need to serve members where and when they want, improve the experience by personalizing advice—whether that’s delivered in person or through digital channels—and expand our branch network,” says Jeff Shewfelt, Co-CEO of G&F Financial Group.

“It is an extremely competitive market,” says Bill Kiss, Co-CEO. “With more online banks entering the scene and consumer directed finance fast approaching, credit unions need to ramp up quickly or risk being left behind.”

Shewfelt says the merger stemmed from the team at G&F Financial Group considering what will banking look like in five years and whether they could remain relevant and keep pace with their larger competitors.

Midway through 2020, the G&F Financial Group Board of Directors asked management to approach Aldergrove Credit Union to discuss the possibility of a merger.

“We determined we were a good fit by looking at the opportunity through the eyes of members, community, employees, and the credit union,” Shewfelt says. “But it starts with our member’s needs, and our members frequently ask if we will be opening more branches in the Fraser Valley.”

The team also realized G&F Financial Group could do more by partnering with another credit union. Consumers expect a faster, more personalized experience when they shop or purchase a professional service—an experience made possible by the latest technology—and this trend will continue.

“Through this merger, we will have the resources and capital we need to invest in our mobile services and our digital banking technology,” says Gus K. Hartl, former CEO of Aldergrove Credit Union, and current President of G&F Financial Group.

Over time, members will have access to more payment solutionsthey will be able to open an account online, sign up for text message communication, and enjoy a refreshed online banking experience and mobile banking app.

The merger will also bring business members more lending options, more mobile financial advisors, and comprehensive services, from business banking to payroll, employee benefits, insurance, and investing.

“While many members are choosing to bank digitally on-the-go, our members will always need a human touch to listen and advise on some of life’s most important financial decisions,” Kiss says. “To be where our members need us most while meeting their changing needs, we are building a larger branch network where we focus on personalized advice, not just transactions.” ?

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Created by BCBusiness in partnership with G&F Financial Group