First Nations Bank of Canada Community Banking Centre Opens in the Far North
- EFN Staff | October 24, 2014
First Nations Bank of Canada (FNBC) recently announced the Grand Opening of a full-service First Nations Bank of Canada Community Banking CentreĀ® in Pond Inlet, Nunavut. This is FNBC's second of three scheduled Community Banking Centres to open in Nunavut during 2014 and 2015. The Baker Lake Community Banking CentreĀ® opened in March 2014.
"We are Canada's Aboriginal Bank, independently owned and operated by Aboriginal people for Aboriginal people," said Keith Martell, Chairman and Chief Executive Officer of First Nations Bank. "Our expansion in Nunavut reinforces our commitment to grow in communities where our shareholders live and work. Customers in Pond Inlet will for the first time have access to the services of a chartered bank in their community."
The Community Banking Centre will operate within the Tununiq Sauniq Co-operative retail store. The Nunavut Community Banking Centres are being developed under an arrangement with Arctic Co-operatives Limited. The relationship with Arctic Co-operatives Limited was established to expand much needed financial services in Nunavut . "We are very pleased to partner with First Nations Bank of Canada to bring essential financial services to the people of the community of Pond Inlet. We anticipate improved financial literacy and economic benefits, through direct access to financial services, for the Members of Tununiq Sauniq Co-op", said Kono Tattuinee, President, Arctic Co-operatives Limited.
Inuit-owned Atuqtuarvik Corporation is the largest shareholder of FNBC. Atuqtuarvik has been extremely supportive of FNBC bringing a locally owned, capable and competent bank to Nunavut. Banking services are a critical part of a community's business infrastructure, and are critical for economic expansion. The presence of a full-service chartered bank in Pond Inlet, with Inuit ownership, will facilitate economic development and make personal financial services significantly more accessible.
"Our Bank is primarily focused on providing financial services to the Aboriginal marketplace," said Martell. "Working shoulder-to-shoulder with customers, businesses, and community leaders we create opportunity and prosperity for Aboriginal people."