ACU receives achievement award during Co-op Week
October 20, 2011 - On International Credit Union Day, Outlook Financial's parent company, Assiniboine Credit Union was presented with the 2011 Cooperative Achievement Award in recognition for our work with the AssetBuilders Partnership. The award was one of three awards presented by the Manitoba Cooperative Association at its annual awards dinner.
The Manitoba Cooperative Association (MCA) is a provincial association of co-operative organizations, created by its members to enhance and support the development of Manitoba’s co-operative movement. It serves the needs of co-operatives in the areas of development, education, youth leadership, government relations and global awareness. Assiniboine is a member of the MCA.
The Cooperative Achievement Award is presented to Manitobans who have made significant contributions in innovation, achievement and initiatives toward the development and success of co-operative services, co-operative members, and their communities. The achievement must have been initiated within the last 10 years, and have already demonstrated recognizable benefits to the members and organizations involved, as well as the surrounding community.
“Receiving this award today, on International Credit Union Day, is particularly meaningful,” said ACU board Chair Garry Loewen while accepting the award. “Canadian credit unions were formed over a hundred years ago to help the underserved in a co-operative fashion. The AssetBuilders Partnership is a demonstration of how we are still doing that today.”
ACU is one of the founders of the AssetBuilders Partnership, a growing network of Asset Building Program providers. Today, the AssetBuilders Partnership consists of ACU, SEED Winnipeg, United Way of Winnipeg, and 11 other organizations. Through their individual Asset Building Programs, each organization helps people living on low income save and create opportunity for themselves.
As the financial-services provider for each of the 12 Asset Building Programs in Winnipeg and Thompson, ACU provides a specially designed savings account for use by program participants. Participants receive 10 weeks of money-management training from one of the 12 program providers and are supported to achieve their savings goal using their ACU Matched Savings Account. Savings are matched 3-to-1 by funders such as United Way of Winnipeg. Since the launch of the first Asset Building Program in 2000, more than 700 participants have purchased assets worth more than $2.1 million.
Through a special arrangement, ACU’s annual United Way Campaign raises funds for Asset Building Programs. Since 2007, ACU and our employees have donated almost $300,000 for Asset Building Programs through our annual United Way campaign.
Other awards presented by MCA this year were the Distinguished Co-operator award, which was presented to Wayne McLeod of Westoba Credit Union, and the Co-operative Merit Award to Marcel Daeninck from Red River Co-op.