All Trans and PACE have joined forces

 To learn more about the merger with PACE Credit Union click here


Why is All Trans merging with another credit union?
The merger is taking place because:
We need to greatly expand our service and technical capabilities to offer the range and scope of services that our members will need and want in the future. Examples are larger mortgages and loans and investment services. The best way to achieve this, given the cost and complexity of technology, administration and expertise involved, is to join forces with a like-minded organization that has the financial, technical and human resources to make it happen.

The competitive nature of the financial services business means that we need to price our services at a level that is a good deal for our members. Again, this is now only possible through large business volumes at big financial institutions that enable lower loan rates and prices and advertising to raise our members’ awareness of various services and options, which will be help them meet their financial objectives.  

Which credit union are we merging with?
We will be merging with PACE Credit Union, which serves over 32,000 members with a complete range of financial services. PACE has assets close to $800 million, with 14 locations. Those of you who live in Vaughn, Markham, Stouffville or Mississauga may be familiar with PACE, which has numerous branches in the “905” area. PACE is now keen on expanding its presence in Toronto, and the merger with All Trans is a major step in this direction.

Why was PACE selected to be our merger partner?
Your Board of Directors and management explored possible mergers with several large area credit unions. We found PACE to be the most compatible organization in terms of business philosophy, financial strength and stability and, most importantly, respecting the significance of our transit employee bond of association and the financial needs and preferences of people who work in transit and transportation industries.

What services does PACE Savings and Credit Union have to offer?
PACE offers a very wide range of financial services, which include:
All “everyday banking” services including deposits, chequing accounts, cash, term deposits, personal and commercial loans and mortgages up to slightly over $1 million. Services also include the PACE MasterCard (credit card) and investments such as GICs, RRSPs and mutual funds, as well as investments through PACE Securities. For a detailed description of PACE services, please visit the PACE website at

When will the merger actually happen and how?
Both credit unions are currently involved in due diligence, which is a thorough review and examination of the policies, procedures, financial statements, accounts and records to ensure that everything is in order. We will then draw up a merger agreement outlining the terms and conditions of the merger, including the orderly transfer of All Trans Credit Union membership accounts to PACE, continuity of employment with PACE for All Trans staff as well as the integration of facilities, computer systems, rates and service features so that everything happens in a manner that is smooth and trouble-free.

The merger agreement will be submitted to the regulatory agency (the Deposit Insurance Corporation of Ontario or DICO) for approval, along with a business plan of how the two credit unions will combine their assets and resources, and grow and develop in the future.  

Once DICO has reviewed the submission to ensure that the agreement and business plan are sound, it will issue a formal approval letter for the merger. This is generally expected to take about two weeks.

The last step is the approval of the members, which is where you come in. We will schedule a special members’ meeting for the sole purpose for approving the merger. At this time, we expect this meeting to be held toward the end of April or early in May.  

We will provide you periodic updates on the progress of the merger through special notifications or bulletins and on this website. We will send out an official notification and invitation to attend the special members’ meeting.

Once the members have approved the merger, the two organizations will work diligently to complete the integration of All Trans with PACE. We expect the entire process to be complete by the end of  2016

Will there be any disruption to the services I currently get from All Trans as the merger becomes effective?
We do not expect any disruptions, other than what may happen due to computer system changes or upgrades. Fortunately, both credit unions are very well acquainted with what needs to be done in a merger, since both All Trans and PACE have conducted several mergers in the past.  

You will be notified well in advance if there is a disruption that may happen due to system changes that are necessary to improve service quality. Please rest assured that we have all the essential expertise and knowledge to execute a merger that will be beneficial for both organizations.

What will change for me as an All Trans member? Will the current office close?
Our office at 3250 Bloor Street West and our on-site offices at the TTC and London Transit will continue operating as usual.  The staff will also continue in their current positions.  This may change if our staff wishes to take advantage of other career opportunities at PACE in the future.

You may notice a few changes in advertising and signage in our branches over the course of time. The current proposal is to continue with All Trans as a division of PACE Savings and Credit Union. The All Trans services which you are familiar with, such as Christmas and Vacation loans, will continue, while more services are added from PACE. This agreed-upon approach to the merger ensures that it will be a win-win proposition for both All Trans and PACE members!

Please keep checking this page and our website for further updates and information. We value your business and look forward to your continued membership in a larger organization that will offer you much more!

Our promise to you

Well go the distance

Everyone from our CEO to our Mobile Money Managers to our Pavilion staff is committed to bringing you a better banking experience. We strive to deliver innovative products, great rates, personalized service, and to simply do more for our members. From our incredible low fee all-inclusive chequing account to our unique Mobile Money Manager program to insurance up to $100,000 on all your deposits, we stand behind our promise to go the distance for you.

We give you ownership.

Your one-time share purchase of 20 shares valued at $5.00 each is your investment in the credit union and entitles you to a wide range of benefits and privileges:

Attend and participate in our Annual General Meeting and voice your opinion through voting

Contact anyone at All Trans to show your support, provide valuable feedback or suggestions, or get the answers you need.

Get more from your credit union including better rates, unique products and personalized service Plus, your share purchase is fully refundable if you ever decide to leave the credit union.

Who can join?

We proudly serve employees in the transportation and manufacturing sectors, as well as a select number of members from the community at large.

Have a look at the various companies whose employees, spouses and family members are all eligible for membership in All Trans Financial Services Credit Union.





Copyright All Trans Financial Services 2010