Contents

Assiniboine Credit Union

This article contains content that is written like an advertisement. Please help improve it by removing promotional content and inappropriate external links, and by adding encyclopedic content written from a neutral point of view. (August 2023) (Learn how and when to remove this message)

Assiniboine Credit Union

Company type	Credit union
Industry	Financial services
Founded	1943
Headquarters	Winnipeg, Manitoba , Canada
Number of locations	18
Area served	Winnipeg and northern Manitoba, Canada
Key people	Kevin Sitka (president & CEO)[1] Crystal Laborero (chair)[1]
Revenue	C$189.8 million (2022)[2]
Net income	C$38.5 million (2022)[2]
Total assets	C$6.10 billion (2022)[2]
Members	140,000 (2022)[3]
Number of employees	500 (2018)[4]
Divisions	Outlook Financial
Website	acu.ca

Assiniboine Credit Union (ACU) is a credit union based in Winnipeg, Manitoba.

ACU was formed in 1943 by 15 employees of the Winnipeg Electric Company who got together to form the credit union.^[5][6] They named the new credit union after the street their company headquarters was on—Assiniboine Avenue.^[6]

ACU now has 18 branches in Winnipeg and northern Manitoba.^[7] ACU merged with Astra and Vantis credit unions in 2007.^[8]

Branches[edit]

As of 2024^[update], Assiniboine Credit Union has 18 branches: 16 in Winnipeg and 2 in northern Manitoba—Thompson and Gillam.^[9]

As of 2020^[update], ACU has three community economic development, one in Gillam and the other two in the West Broadway and North End neighborhoods of Winnipeg.^[1]: 26 These branches are deliberately placed in low-income areas in order to provide financial services to those ignored by the large commercial banks.^[10]

The North End location was opened in 2012, on McGregor Street at College Avenue. Camilla, Duchess of Cornwall toured the facility during her visit to Winnipeg to learn more about Manitoba Credit Unions.^[11]

History[edit]

In 1943, under the backdrop of World War II and its impact on the world's economies, Ed McCaffrey and 8 co-workers from the Winnipeg Electric Company formed Assiniboine Credit Union, naming it after the street its headquarters was on—Assiniboine Avenue.^[5][6] Many Manitobans at the time were subjected to high interest rates charged by money lenders. McCaffrey and his colleagues thereby established ACU as an open bond credit union that welcomed everyone in the community to join.^[5]

In 2020, Assiniboine Credit Union received its B Corporation certification, after received an assessment score of 166.4, the highest in Canada and 6th highest in the world among over 3,500 certified B Corps.^[1]: 5

Mergers[edit]

Mergers have been a large part of the history and success of credit unions over the years. ACU's history of mergers began in 1948, when Winnipeg Postal District Employees and Federal Employees of Manitoba merged with Keystone Credit Union, which ultimately merged with Assiniboine Credit Union in 1979.

On 24 June 2021, Assiniboine Credit Union signed a formal agreement to merge with Entegra Credit Union, followed by a public announcement 5 days later.^[12][13][14] Formally taking effect on 1 January 2022, the new entity will retain the Assiniboine Credit Union name; likewise, the current President and CEO of ACU, Kevin Sitka, will head the new credit union, while the CEO of Entegra, Brent Turman, will become Chief Operations and Strategic Initiatives Officer.^[13]

Note: an asterisk following the date indicates mergers

Dates of subsequent mergers and merge partners are in brackets.

See also[edit]

• Access Credit Union
• Cambrian Credit Union
• Credit unions in Canada
• Steinbach Credit Union

References[edit]

External links[edit]

• Official website