Alterna marks 110th birthday

September 6, 2018 · 0 Comments

Written By KIRA WRONSKA DORWARD

Socially responsible banking is the mantra of Alterna Savings, which on Sept. 4 celebrated its 110th anniversary with cake, Mayor Allan Thompson and MPP Sylvia Jones. Also in attendance was Deputy Fire Chief of Support Services Mark Wallace, who was present to receive an enormous gift basket of foodstuffs donated by Alterna in honour of their anniversary and to thank first responders for their services.

The food will go to support the Caledon Fire and Emergency Services personnel who work tirelessly, “and are proud to serve all the citizens of Caledon,” says Wallace.

Community and customer service are core values of Alterna Savings. Beginning as Civil Service Savings and Loan, and becoming Marysfield Credit Union in Bolton in the 1950s, Alterna has grown through many consolidations and merges with other credit unions to become the forward-thinking financial institution it is today.

Aside from their gift to Wallace and company, they have raised $110,00O this year in support of Candle Lighters, a charity that supports children with cancer. In addition, each Alterna employee is actively encouraged with designated time off to volunteer in their community in any capacity they choose.

“Putting people before profits,” says Vice-President of Wealth Management Shawn Khimji, “is what makes Alterna a socially responsible way of banking. Our credit union is built on cooperation and values.”

Over the years, Alterna has made advances in technology unique in the field. Alterna opened the first digital bank, developed the first end-to-end digital mortgage, and has continued to invest heavily in technology to provide Canadians with access to their money.

Initiatives such as MyReceipts, which digitally stores all receipts, and NestReady, a real estate search program, are a few examples of the technical advantages of the credit union.

However, social forward-thinking remains Alterna’s main goal. They support the medical marijuana industry with their banking services, and believe that every member has a voice and a vote, inviting them to the annual AGM.

Ultimately, Alterna is cognizant of how its approach impacts the local community. In Bolton, the credit union supports the Breakfast Club, where breakfasts are served at Allan Drive Middle School. Alterna also provides financial literacy classes to elementary and high school students, as well as free classes at the library.

“It takes a special kind of passion to serve the community,” said Sylvia Jones, as she helped Branch Member Clelia Spina cut the cake at the celebration.