|Key figures Impact story|
Kindred Credit Union’s purpose is Cooperative banking that connects values and faith with finances, inspiring peaceful, just, and prosperous communities.
We believe values and faith are central to life, and financial decisions are not values neutral. Our core values of integrity, compassion, and stewardship are woven into everything we do and are reflected in how we treat each other as staff, members, and in community.
Kindred Credit Union began on March 21, 1964 when a group of local area Mennonites had a radical vision to see mutual aid put into faithful practice – extending access to financial services across our community.
In 2016, we became Kindred Credit Union. And today we live out our founder’s original vision through our innovative and impactful products, services, and programs.
Kindred Credit Union employs 167 people who serve over 21,000 member-owners through our head office and eight full-service branches across Southwestern Ontario.
Mutual aid is woven into the very fabric of Kindred. In addition to being a value shared by our members, it permeates the purpose, strategies, and products and services of the organization.
Connecting values and faith with finances is a distinctive in today’s crowded world of financial institutions and the role of the board is particularly important when it comes to keeping our values front and centre. Through a strong connection to the membership, those asked to serve represent our members at the governance level. The board encourages Kindred to live out mutual aid in ways that are meaningful to individual members and our broader community.
Kindred draws on its Anabaptist heritage to uniquely shape its vision and direction. The Shared Convictions of the World Mennonite Conference express Anabaptist beliefs that moved our founders to form a credit union with a radical vision for expanding mutual aid. Living out this vision today motivates us to connect values and faith with finances inspiring peaceful, just, and prosperous communities.
Brent Zorgdrager, Chief Executive Officer
Leroy Shantz, Board Chair
Market Focus, Products and Services
Kindred Credit Union is one of the top 10 credit unions in the province of Ontario, with $1.1 billion in assets under management. Kindred offers a complete range of banking, investing, and borrowing products.
Our members are the credit union’s owners, with each one having an equal voice in how the credit union is run. Ownership is at the very heart of membership and because of this, each year Kindred shares 40% of its core earnings with members.
Kindred has been recognized as Living Wage Champion ensuring that all full-time and part-time employees, including student positions, are paid at least a living wage.
In 2016, Kindred became the first financial institution in Canada to validate all of our Guaranteed Investment Certificates (GICs) as socially responsible investments. Prior to our announcement, this approach to investing had only been associated with mutual funds and market investments. In 2015, Kindred became the first credit union in Canada to partner with Oikocredit Canada to launch the Oikocredit Global Impact GIC, allowing people in Ontario to invest in a guaranteed, RSP-eligible investment aimed at lifting people out of poverty in low-income countries.
Kindred gives back to the communities where our members and staff live and work through sponsorships to, and funding agreements with, local charities. In 2016 our charitable giving amounted to $368,000. In partnership with Abundance Canada, Kindred established the Kindred Charitable Fund in 1999. Since that time, the Fund has distributed nearly $750,000 in grants to over 135 churches and charities in our communities.