Members of Prospera Credit Union and Westminster Savings Credit Union approved the merger of the two British Columbia, Canada-based credit unions.

The combined credit union will be called Prospera Credit Union, and the deal will close effective Jan. 1, 2020. Prospera will be Canada's sixth-largest credit union, with over C$9.0 billion in assets under management, more than 120,000 members, 900 employees and 29 branches, according to a news release.

Abbotsford-based Prospera CU and Surrey-based Westminster Savings CU also said their merger would be the largest in Canadian credit union history.

The Financial Institutions Commission in September gave consent to the two credit unions to hold meetings for their members to vote on the merger. Approval from at least two-thirds of members of each credit union was required.