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Values-Based Banking reflects our commitment to doing business in a way that is financially sound and socially, environmentally and ethically responsible. It speaks to the value we see in using our skills and resources as a financial co-operative to help foster self-reliant and sustainable communities. It explains why we take care to consider the impact of business decisions on our employees, our members, the communities we serve and the environment.
The roots of Assiniboine Credit Union are deep and stretch back to 1943, an important time in Canada’s history. After suffering through a decade-long depression, the economy was finally coming back to life. For the first time in a decade people were starting to think about saving money. 15 Winnipeg Electric Company employees met one evening to form a credit union, a place of their own where they could invest their money. They named the new credit union for the street on which the Street Railway Company had its offices — Assiniboine.
At the first credit union meeting, members invested $100 each in the new co-operative. The first loan underlined the credit union’s social mission: a member borrowed $50 to pay an outstanding medical bill.
Over the years, Assiniboine attracted more members and business grew through sound financial performance and a series of amalgamations. Through it all, Assiniboine never lost sight of its commitment to its members and their communities.
Today, Assiniboine Credit Union is a strong, community-based financial co-operative owned by over 100,000 members. It has over 400 employees, the largest branch network in Manitoba, and assets exceeding $4 billion. It is governed by a Board of Directors that is elected by the member-owners.
We are certain those early members would approve of the path Assiniboine has taken; building on our fundamental co-operative values for a sustainable future.
Kevin Sitka – President and Chief Executive Officer
Alain Molgat – Board Chair
Market Focus, Products and Services
Our decision-making remains local and the money members place on deposit is put to good use to build local, sustainable communities. We offer all the products and services of any financial institution, but with great added value. All deposits are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.
We focus on delivering exceptional service to households, businesses, non-profits and co-operatives through the largest branch network in the province, and a wide array of innovative products, services and programs that further our reputation as a unique financial co-operative.
ACU provides world-class financial services to all members in our communities. At the same time, we engage with members and communities to understand barriers to accessing financial services, and work with them to create solutions, including:
- Opening branches in communities that the banks have abandoned, such as a branch in Winnipeg’s North End
- Bringing unbanked individuals into our credit union as full members and providing empowering opportunities for them to build their assets
- Creating a credit union in a high school to empower youth through financial literacy and business management opportunities
- Establishing a Community Finance Centre specifically dedicated to finding financing solutions for nonprofits, social enterprises, co-operatives, and micro-enterprises that have high social impact
- Promoting ethical investment options for our members
- Providing innovative loans for foreign professionals to get their credentials recognized in Canada
- Creating a mortgage product with the Islamic community that facilitates home-ownership.
ACU also continually works to reduce its impact on the environment, recognizing that this will create a more sustainable and healthy place for our members to live.