Kindred Credit Union (Ontario, Canada), a proud member of the Global Alliance for Banking on Values (GABV), celebrates its 60th anniversary this year. Since its inception in 1964, Kindred has been a beacon of values-based banking, committed to economic justice, mutual aid, and community service.
Founded by 22 Mennonites with a mere CAD 22, Kindred Credit Union has grown to serve over 27,000 members with CAD 2.32 billion in assets under administration. This growth is a testament to Kindred’s dedication to its founding principles and its ability to adapt and innovate while staying true to its core values. It continues to help their members ‘Make Peace with Their [Your] Money’.
Pioneering Socially Responsible Investments
Kindred has been at the forefront of integrating social responsibility into its financial products. The introduction of Member Assistance Services (MAS) in 1994 provided a unique support system for members in need, embodying the credit union’s commitment to mutual aid.
Additionally, Kindred introduced pioneering financial products such as the Affordable Housing GIC and Loan, Community Inspiration GIC, and Crisis Care GIC and Loan, promoting mutual aid and economic justice. Their socially responsible investments and green loan products enable members to align their finances with their values, fostering sustainable economic development.
Significant Impact and Broader Reach
Kindred’s impact extends beyond financial services to meaningful community contributions. In 2022 alone, Kindred distributed CAD 1.46 million through its Profit Shares programme and contributed CAD 575,000 to charitable causes, including affordable housing and food security. These efforts highlight Kindred’s role in fostering resilient and thriving communities.
In addition, due to the rebranding as Kindred in 2016, the credit union broadened its reach, becoming B Corp certified and joining the GABV in 2019. This strategic transformation has allowed Kindred to connect values and faith with finances, inspiring peaceful, just, and prosperous communities.
Looking Ahead
As Kindred celebrates this milestone, it remains committed to its mission of banking with purpose. The credit union continues to innovate, introducing products like the Affordable Housing GIC and Loan to address pressing social issues. With a steadfast focus on ethical banking and community development, Kindred is poised to inspire positive change for many more years to come. The introduction of new platforms and services such as its self-developed secure file upload widget allowing online banking users to send files directly to the credit union team members, along with a strong commitment to agriculture and business members, highlights Kindred’s forward-thinking approach.
