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. They named the new credit union after the street their company headquarters was on—Assiniboine Avenue. ACU now has 18 branches in Winnipeg and northern Manitoba. ACU merged with Astra and Vantis credit unions in 2007.

Branches

, Assiniboine Credit Union has 18 branches: 16 in Winnipeg and 2 in northern Manitoba—Thompson and Gillam. , ACU has three community economic development, one in Gillam and the other two in the West Broadway and North End neighborhoods of Winnipeg. These branches are deliberately placed in low-income areas in order to provide financial services to those ignored by the large commercial banks. 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.

History

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. 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. 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.

Mergers

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. 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. 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