August 8, 2012
WEDNESDAY
Balon Wins Woodlawn Classic
Riley Lets Nothing Slow Him Down
www.estevanmercury.ca
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Issue 13
Spectra close to merger decision
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By Norm Park of The Mercury
CT Scan Next On Hospital Wish List
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Children’s Wish Foundation Making Dreams Reality
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Spectra Credit Union’s board of directors had the facts, heard the presentations and are now looking at the analysis while preparing a recommendation to take to their members within the next few days. The subject at hand is a proposed merger with another provincial credit union that will provide a much larger scope of business for regional businesses and CU members. Conexus Credit Union and Affinity Credit Union have made their presentations to Spectra’s directors and a detailed comparison and analysis is underway, said Spectra’s chief executive officer Tim Schroh last week when contacted by The Mercury. Conexus and Affinity were considered to be the only two provincial CUs with a wide enough provincial scope and reach to fill Spectra’s growing requirements. Conexus, headquartered in Regina, boasts of assets of around $4 billion while Affinity, centred in Saskatoon, lists about $2.5 billion in assets compared with Spectra’s $700 million.
The board of directors of Spectra Credit Union will decide on which credit union they will merge with at a meeting Thursday. The choices are reportedly the Regina-based Conexus Credit Union and Infinity Credit Union which is headquarted in Saskatoon.
Tim Schroh “The board members received the analysis report July 19 and have been working on it and they are meeting within the week to provide a recommendation
Get Your Heart On! Estevan
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due to Spectra’s unprecedented growth, which has outstripped its profits. Spectra requires strong equity profits, the CEO said and “as you can well imagine, the requirements on the commercial side are tremendous right now and the business requests are flirting with our capacity to handle them all, thus the need to seek a strong provincial partner.� Schroh said that the recommended merger can’t be viewed negatively or as a sign of Spectra giving anything up in the process since in Saskatchewan “it’s in our DNA to be co-operatively
involved and committed to our communities. We abide by these fundamentals of the credit union and they will continue.� The first public indication that a merger was being sought was brought forward at this past spring’s annual general meeting. The guiding principles were released shortly after that meeting, which outlined the expectations that would have to be met by any credit union that came courting. The executive had noted that one major factor for any bidder had to be province-wide exposure and presence.
Latest traffic count sparks fresh Highway 39 twinning discussion By Norm Park of The Mercury
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that they will take to the membership,� said Schroh. Both of the larger credit unions were willing to meet Spectra’s guiding principles that included such things as a continuation of local presences among its nine branches, community participation and decision making, et al. “The recommendation that will probably be announced by Friday, will say ‘here’s why we chose A or B,’� said Schroh. The amalgamation or merger with a larger credit union has been seen as a necessity for some time
A new provincial highway traffic count provided to the City of Estevan by the Highways and Infrastructure ministry has found its way to the local Time to Twin committee centred in Estevan. The Time to Twin group is relatively low in numbers but vocal in their support of a plan to twin Highway 39 and Highway 6 south of Regina to the United States border at North Portal. Time to Twin spokeswoman Marge Young said the new traffic volume numbers released by the government compare favourably with those compiled in a more informal fashion by committee members in October of 2010. “Their count on Highway 39 just west of Estevan was 3,870 in 2011 and ours in a 14-hour period
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in late 2010 was just over 3,300,� said Young, adding that she would like to know when the 2011 count was taken. “If it was taken during grid road ban season or when the floods were happening, that would influence the traffic flow,� she said. A very heavy traffic count of 6,920 vehicles per day was noted in the short stretch of highway (approximately 11 kilometres) of intense traffic between the Bienfait (Highway 18) turnoff and Estevan. On short-term traffic counts, vehicles numberd 5,200 along the Estevan to Midale to Weyburn stretch and then around 3,900 from Weyburn northwest to Highway 6 heading into Regina. The traffic count picks up again closer to Regina with a daily count of 4,560 vehicles using that stretch of the highway that the local committee want to see expanded into a four-
lane transportation link. With short-term counts of 6,220 vehicles near Estvan, 4,100 near Weyburn and nearly 3,900 around Milestone, Young said the figures make the argument in favour of a wholly twinned highway. “We have talked with Doreen (Eagles, Estevan’s MLA) and have asked her to make sure that the new Highways and Infrastructure Minister Don McMorris receives our binder that included 200 personal and specific testimonials from local truck and other commercial drivers concerning safety issues along this highway,� she said. The group had also filed a mini-petition with the ministry, meaning that the petition was not widely circulated, but generally concentrated on the regional trucking and other related industries for signatures. “That number count between Estevan and Bienfait is a real con-
cern and the overall traffic count in the southeast shows that our numbers are as high as anybody’s in the province,â€? Young added. She noted that the only highways with higher volumes are the TransCanada Highway No. 1 and Highway 16 and Highway 11 which are already twinned or double laned in areas where traffic is heaviest. “The other major factor we want the ministry to consider is the size and speed of this traffic we deal with around here. Most of it consists of big semis and oil rig or mining trucks,â€? Young said. “Then when we consider all other factors such as the fact that a lot of people are having to commute between Estevan, Weyburn and Regina and points in between, and the fact that this highway is the major trade corridor for North American business, we’ll see increasing volume. That has already been ⇢ A2
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