Mission

Our purpose as a socially responsible and profitable financial co-operative is to provide accessible financial services for the well-being of our members, employees and community; offer fair and meaningful employment in a safe and respectful workplace; and build partnerships that foster self-reliant, sustainable communities.

Short History

Winnipeg, 1943 – Assiniboine Credit Union’s roots are deep and stretch back nearly 70 years to an important time in Canada’s history. After suffering through a decade-long depression, the city’s economy was finally coming back to life. It was a time of tremendous worry and anxiety. But for the first time in a decade people were starting to think about saving money.

So when 15 Winnipeg Electric Company employees met one evening after work in 1943 to form a credit union they were in touch with the spirit of their times. A credit union was meant to be a place where they could invest some of their money. More importantly it was a place they could turn to in an emergency. They named the new credit union for the street on which the Street Railway Company had its offices – Assiniboine.

In those days there was no safety net when it came to unemployment insurance, social assistance, or medical care. At the first credit union meeting, members invested $100 in the new cooperative. 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 and grew through both sound financial performance and a series of amalgamations with other credit unions. But we never lost sight of our commitment to our members and their communities.

Assiniboine Credit Union may look much larger today than it did in the days when the secretary treasurer could carry all of the assets around in his hip pocket as he drove his bus route – now that we have over 570 employees, 110,000 members, 25 branches and assets exceeding $3.1 billion. But we are certain those early members would approve of the path Assiniboine has taken to build on our fundamental co-operative values while building a sustainable future.

Structure

Assiniboine Credit Union is a community-based financial co-operative, owned by the members who use its products and services. Member-owners elect from among them representatives to the board of directors. Each member owns one share in Assiniboine and has one vote when it comes to board elections and voting on important matters put before the membership. Profits are reinvested into the credit union, distributed to members in the form of patronage dividends and/or shared with the community.

Management Board

  • Kevin Sitka, President and Chief Executive Officer
  • Garry Loewen, Board Chair

Market Focus, Products and Services

As a Manitoba-based credit union, Assiniboine focuses on delivering exceptional service to more than 110,000 members and their communities. We offer a full range of financial products and services to households, businesses, non-profits and co-operatives through a variety of channels including.

  • 25 Branches: 23 in Winnipeg, 2 in northern Manitoba
  • Network of 40 ATMs
  • Internet Banking and Telephone Banking
  • Member Communication Centre
  • Business Financial Centre
  • Community Investment Centre
  • Assiniboine Financial Group (wealth management)
  • Dealer Finance Division (on-the-lot vehicle financing)
  • Mortgage Specialists
  • Outlook Financial (Assiniboine’s virtual division)
  • Winnipeg Insurance Brokers (a wholly owned subsidiary of Assiniboine Credit Union)

Members find all the products and services they’d expect from any financial institution, but with great value added. In addition to our 100% unlimited guarantee provided by the Deposit Guarantee Corporation of Manitoba, we offer an array of innovative products, services and programs that further our reputation as a unique financial co-operative.

In keeping with our mission, our market intentionally includes those households, organizations, and neighbourhoods not well served by mainstream financial institutions.

Delivering service in Manitoba, Canada means our decision making remains local and the money members place on deposit is put to good use to build local, sustainable communities.

More information about our customized products and services, such as the Assiniboine Credit Union Islamic Mortgage, can be found on our website.

Impact Case Study

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