Credit unions care about providing equal access to financial services to underserved communities.

Based in remote areas, residents in northern communities in Canada are confronted with limited access to quality financial advice due to the absence of in-person financial service branches in these neighbourhoods. To address this, Innovation Credit Union recently joined forces with Île-à-la-Crosse Cooperative Association to develop a micro advice centre to help provide residents in these communities with the in-person financial services they want and need. Once developed, this 150-square-foot advice centre will be equipped with knowledgeable financial staff working to help answer members' financial questions, as well as ATMs and video conferencing technologies allowing members to speak with an Innovation financial expert without having to travel to the larger branch.

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Innovation is partnering with Île-à-la-Crosse Cooperative Association to help establish financial services in the community. The two co-operatives see this as an incredible opportunity to deliver banking services where currently there are none. The signing of this agreement will take place at the Île-à-la-Crosse Cooperative Association Co-op Grocery store on August 29, 2023, at 3:00 p.m.

“Our purpose is to simplify banking for Canadians,” says Innovation Chief Disruption Officer, Dean Gagne. “Our northern communities don’t have the option to bank in-person so finding a tremendous partner in Île-à-la-Crosse Cooperative Association, we’re now able to work together to deliver financial services to this deserving community. It’s part of our shared co-operative values and Innovation’s Responsible Banking™ philosophy. It’s simply the right thing to do.”

Innovation and Île-à-la-Crosse Cooperative Association will work together to develop a Micro Advice Centre, which is essentially a full-service advice centre (branch) in a 150-square-foot space. The advice centre will have member service staff, a video-capable ATM, and an office structure complete with video conferencing technology allowing members to access Innovation’s experts without having to travel to a larger centre.

Kevin Raymond, President of Île-à-la-Crosse Cooperative Association says this partnership will benefit the community of Île-à-la-Crosse, the co-operative, and Innovation Federal Credit Union by bringing necessary financial services to the surrounding area.

Innovation will offer the use of its Mobile Advice Centre (MAC) beginning in late August as a temporary location while the Micro Advice Centre inside Île-à-la-Crosse Cooperative Association is being set up.