NBTA credit Union was incorporated in 1971 by teachers, for teachers. In 2010, we opened our doors to the general public. We are a full-service financial institution offering everything from saving and chequing accounts to RRSPs and mortgages. We have 14 full-time people on our staff, we have over 4,000 members and currently have $92 million in assets under management. We’ve come a long way!
I’ve had the privilege of working for NBTA Credit Union for 14 years, the last ten of which I’ve served as General Manager. I started my career in banking in 1991 as a teller with one of the big 5 banks. I moved to a credit union when the branch of the bank I worked in closed. I have been fortunate enough to have worked for some great leaders who gave me the opportunity to take courses, and to get the experience I needed to advance. NBTA Credit Union is the third credit union I’ve worked for and I’ve been happy to be able to take on more challenging roles while staying within the credit union system.
NBTA Credit Union is a cooperative and as such, we make decisions with cooperative values in mind. We put people before profits. An example of this would be when the Bank of Canada increased prime rate the last 2 times. Our lines of credit are based on prime rate, but we made the decision not to increase the rate we were charging on lines of credit. Of course we must profit enough to keep us stable, but any extra profit is returned to our members in the form of a rebate.
NBTA Credit Union has supported many worthwhile causes and events including the Stan Cassidy Foundation, Junior Achievement, Born to Read, and numerous others. In 2023, our Board and Staff made the decision to support Greener Village’s Thrive Campaign. The campaign is raising funds to create and support New Brunswick’s first Food Rescue Centre. We have committed to donate $2.00 per member every year for the next five years. Throughout the year, staff hold fundraising activities to support the campaign as well. We also volunteer our time when possible.
We believe it is never too early to start teaching children about money. Several of our staff are invited into classrooms to talk about money, budgets, savings, and credit. Students have a lot of questions and want to learn. Many young adults come in to see us because they have overextended themselves with credit. Student loans and credit card debt are 2 things many of our college students have when they graduate. It is rewarding to work with these members, to show them how to manage their debt and set financial goals for their future.
Many small businesses are facing challenges keeping up with the latest technology. Our business is no different. Members want access to their money in a variety of ways and we face competition from some very large banks. Credit unions in Atlantic Canada work together and pool some of our resources. This allows us to offer products and services that may be financially out of reach if we were to go on our own. Another reason to love the cooperative values of credit unions.
One thing I would like people to know about NBTA Credit Union is we truly have our members’ best interests in mind. You aren’t just a number. Every member must purchase one $5.00 share, making them an owner. In other words, we work for you.