YMCA of Regina says it is considering closing one of its three locations due to accumulated debt.

The organization says if a change is not made, the YMCA will become insolvent in 12 months.

Steve Compton, YMCA of Regina's CEO, says the organization is projected to be $5.6 million in debt by the end of this year.

"Our revenue doesn't meet our expenses currently and … there's also some pretty significant capital that's going to be required to sustain our facilities," Compton told CBC News.

At a community meeting held by the YMCA Wednesday night, the organization said in order to reduce the predicted deficit, it is considering closing either the East YMCA location on Victoria Avenue E., or the downtown location on 13th Avenue.

Other options being considered are selling and leasing back the Northwest YMCA facility or the downtown facility.

The organization is also considering additional bank financing and a "strategic capital campaign."

"We would relieve our operational debt, we'd create some capacity going forward to be able to address the building and infrastructure challenges we've identified, and just continue our work in the community as the YMCA," Compton said.

As for community members, Compton says he expects a membership drop if one of the three facilities were to close.

"We understand that people have a strong relation to the YMCA and their local YMCA, and we want to hear those voices from our membership," Compton said.

"We hope that if we have to make one of those choices … they choose to utilize the two other facilities."

Compton says that only one of the facilities would shut its doors if the decision comes to that.

Competition and upgrades

Last year, the YMCA of Regina saw a three per cent decline in membership.

"We have many many competitors," Compton said. "Some [are] specialized, some are general in the health and fitness offering, [but] obviously without the charitable mandate and impact that this organization provides to [the] community."

A statement released by the YMCA of Regina says that closing the east facility would result in ongoing costs of $430,000 to "uphold [an] ongoing lease and other contractual obligations". It says that while membership in that area of the city is stable, there are a growing number of gyms in the east end of the city.

The YMCA also said it would cost $12 million to modernize and repair the downtown location, which has been termed by appraisers as "end of life." The YMCA's statement said there are no known resources to replace the building, which would cost upwards of $35 million.

The statement says that child care in that area of the city is an important part of the YMCA's mission and is a service needed in the community.

Compton said no decision has been made yet on the future of the east or downtown locations. A decision is expected to be reached by early Summer.