Pace Savings & Credit Union History and Business Developments

Pace Savings & Credit Union has a rich history that dates back to 1935, when it was founded by a group of Pace, Florida residents who wanted to create a financial institution that would serve the needs of their community.

The credit union's early years were marked by a strong focus on serving local members, with a small staff and a limited range of services.

As the credit union grew, it expanded its services to include loans, savings accounts, and other financial products, all designed to help members achieve their financial goals.

Today, Pace Savings & Credit Union is a thriving financial institution with a strong commitment to its members and the community it serves.

Pace Savings & Credit Union has a rich history of consolidation and growth, with a significant milestone being the merger with GTA Savings and Credit Union in 2002.

Since 2000, Pace has purchased or merged with at least six other credit unions, expanding its reach and services.

In 2012, Pace purchased McMaster Savings and Credit Union Limited, which had two branches and $30 million in assets at the time of the transaction.

Pace also announced plans to amalgamate with Peoples Credit Union of Innisfil and ETCU Financial Credit Union in 2012, with the ECTU transaction closing on October 1 of that year.

The Peoples Credit Union transaction closed on January 1, 2013, bringing in four branches and $150 million in assets.

A failed deal in 2014 involved a letter of intent to merge with Alterna Savings, but the merger was never completed.

Pace continued to grow through the purchase of Durham Educational Employees' Credit Union Limited and London Fire Fighters' Credit Union Limited in 2017.

Pace Savings & Credit Union offers business acquisition services to help entrepreneurs and small business owners achieve their goals.

The credit union provides a range of financial solutions, including loans and lines of credit, to support business growth and expansion.

By working with Pace Savings & Credit Union, business owners can access the funds they need to invest in their ventures, hire new staff, or upgrade their operations.

In a surprising move, the Ontario regulator has decided to sell its core business. This move is a significant development in the world of business acquisition.

The sale is reportedly worth millions of dollars, which will be used to fund various initiatives and projects. The regulator has been under pressure to cut costs and become more efficient.

The sale is expected to have a significant impact on the local economy, creating jobs and stimulating growth. The regulator's decision to sell its core business is a bold move that will be closely watched by industry experts.

The buyer of the core business is a well-established company with a strong track record of success. This acquisition is a strategic move that will help the buyer expand its operations and increase its market share.

The sale is expected to be completed within the next few months, pending regulatory approval. This will mark the end of an era for the Ontario regulator, which has been a major player in the industry for many years.

Alterna Savings and Credit Union Ltd. has signed a deal to acquire the majority of the assets of the troubled PACE Savings and Credit Union.

The regulator assessed the options available to PACE due to pre-administration mismanagement and the COVID-19 pandemic.

Alterna Savings has more than 184,000 members and a network of 34 branches across Ontario.

The transaction is expected to close in the second quarter of this year, subject to customary closing conditions, including regulatory approval.

Alterna CEO Rob Paterson looks forward to bringing stability and confidence to PACE's members and employees.

The acquisition is a significant move for Alterna Savings, expanding its presence in Ontario.