First Nations Bank of Canada

First Nations Bank of Canada
Private
Industry financial services
Founded 1996
Headquarters Saskatoon, Saskatchewan, Canada
Total assets CAD
Number of employees
 (Full-time equivalent, 2009)
Website First Nations Bank of Canada

First Nations Bank of Canada (FNBC) (French: La Banque des Premières Nations du Canada) is the first Canadian chartered bank to be independently controlled by Aboriginal shareholders.[1] FNBC is a Schedule 1 Federally Regulated Bank in accordance with the Bank Act[2] received its charter on November 19, 1996. The Bank headquarters are located in Saskatoon, Saskatchewan, Canada.

History

It began as a venture initiated by First Nations in Saskatchewan and was established in 1996 as a strategic alliance of the Saskatchewan Indian Equity Foundation, the Federation of Saskatchewan Indian Nations and TD Bank.

The Bank provides financial services to Aboriginal and non-Aboriginal customers with approximately 12,000 customer accounts as at December 31, 2016.

The Bank's primary focus is the on commercial customers in markets dominated by Indigenous Peoples, including Aboriginal businesses, Aboriginal Governments and Organisations and Non-Aboriginal Businesses serving Aboriginal markets.

The Bank also has a growing volume of personal loans and mortgages primarily focused in its growing branch network of 8 full service branches and 5 community banking centres in markets with significant numbers of Indigenous Peoples.

At the end of 2009, the First Nations Bank had lent $ 160.2 million, with assets totaling $ 266.5 million. The profit increased from 2008 to 2009 from 8,000 to 157,000 dollars. [3]

The Bank is Majority owned by 78 Aboriginal shareholders that hold, in aggregate, over 80% ownership interest in the shares of the Bank.

Services

FNBC offers services focused on Aboriginal and non-Aboriginal customers:

  • Deposit accounts
  • Investments
  • Commercial Loans
  • Mortgages
  • Micro Loans
  • Cash Management
  • Credit Products
  • ABM access

Operations

Corporate Offices:

FNBC Branches:

Community Banking Centres:

Membership

FNBC is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:

References

  1. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2013-12-14. Retrieved 2013-12-11.
  2. ↑ "Bank Act (S.C. 1991, c. 46)". Retrieved 3 July 2018.
  3. ↑ First Nations Bank of Canada reports strong results for fiscal 2009 https://www.newswire.ca/news-releases/first-nations-bank-of-canada-reports-strong-results-for-fiscal-2009-539235801.html


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