Assiniboine Credit Union

Assiniboine Credit Union (ACU) is a credit union based in Winnipeg, Manitoba. ACU was formed in 1943 by 15 Winnipeg Electric Company employees who got together to form the credit union. They named the new credit union after the street their company headquarters was on—Assiniboine Avenue.[2] ACU has 18 branches in Winnipeg and Northern Manitoba.[3] The credit union merged with Astra and Vantis credit unions in 2007.[4]

Assiniboine Credit Union
TypeCredit Union
IndustryFinancial services
Founded1943
Headquarters
Winnipeg, Manitoba
,
Canada
Number of locations
18
Key people
Kevin Sitka, President & Chief Executive Officer
Revenue $137.8 million CAD (2018) [1]
$29.4 million CAD (2018) [1]
Total assets $4.7 billion CAD (2018) [1]
Members126,000 (2018)[1]
Number of employees
500 (2018) [1]
Websiteassiniboine.mb.ca

Branches

As of 2018 Assiniboine Credit Union has 18 branches, 16 in Winnipeg as well as one in Thompson and Gillam - in northern Manitoba.

In 2012, Assiniboine Credit Union opened a branch on McGregor Street at College Avenue. This branch was placed in this low-income area of Winnipeg deliberately, in order to provide financial services to people ignored by the large commercial banks.[5] Her Royal Highness Camilla, Duchess of Cornwall to toured the North End facility upon her visit to Winnipeg to learn more about Manitoba Credit Unions.[6] The area was previously unserviced by financial institutions for 10 years.

Mergers

Mergers have been a large part of the history and success of credit unions over the years. Assiniboine'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 (ACU) in 1979.

Note: an asterisk following the date indicates mergers

Dates of subsequent mergers and merge partners are in brackets.

Source: Credit Union Central of Manitoba, August 2013

References
  1. "Assiniboine Credit Union 2018 Annual Report". Assiniboine Credit Union. Retrieved 2019-04-05.
  2. "Assiniboine Credit Union: Canada". Global Alliance - For Banking on Values. Retrieved October 10, 2014.
  3. "Locations and Hours of Service". Assiniboine Credit Union. Retrieved 2016-07-28.
  4. Manitoba credit unions vote to merge. The Canadian Press. 29 Sept. 2006.
  5. "Assiniboine Credit Union to open branch in North End: Institutions had abandoned area". Winnipeg Free Press. 20 October 2011. Retrieved 2020-09-10.
  6. "Royal visit 2014: How Camilla found her niche". CBC Manitoba. 21 May 2014. Retrieved 2020-09-10.
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