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User:ReVeluv02/sandbox/Kindred Credit Union

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Kindred Credit Union
FormerlyWaterloo County Mennonite Credit Union
Company typeCredit union
IndustryFinancial services
Headquarters
Kitchener, Ontario
,
Canada
Key people
Ian Thomas (CEO)
Number of employees
200+
Websitekindredcu.com

Kindred Credit Union is a member-owned financial cooperative based in Ontario, Canada. Headquartered in Kitchener, the cooperative operates eight branches across Southern Ontario and is the province's 12th largest credit union.

History and structure

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Kindred Credit Union was founded on April 21, 1964 by local Mennonite communities to provide faith-inspired options to financial services.[1]

Originally called the Waterloo County Mennonite Credit Union,[2] it had two name changes prior to being renamed Kindred Credit Union in 2016.[3] The name change was done to appeal to a broader range of prospective clients. The credit union had already previously extended its membership eligibility beyond Mennonites, Amish, and Be in Christ church members in 2010.

Brent Zorgdrager was the CEO from 2010 until his retirement in 2018, when he was replaced by incumbent CEO Ian Thomas.[4]

The cooperative is a member of the Global Alliance for Banking on Values.[5][6] Since December 2016, they are Certified B Corporation.[7] Kindred also is a Certified Living Wage Employer, part of the Ontario Living Wage Network.[8]

The credit union has over 200 staff who provide services to nearly 24,000 member-owners[9] through its head office and eight service branches across southwestern Ontario.

Kindred's governance and leadership consists of the board of directors, a senior leadership team, and the council of members.[9]

Services and investments

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Kindred Credit Union is a provider of financial services and offers personal and business accounts, automated fund transfer, overdraft protection, mobile and ATM banking, business borrowing, residential mortgages, and other services.[1]

As a credit union, they have invested $1.2 million back into local communities,[9] through their Crisis Care GIC, Church Builder GIC, Profit Shares, and Charitable Fund. Their total assets grew to $2.12 billion as of December 31, 2021.[10]

As a "faith-inspired" financial cooperative, the credit union strictly limits investments in alcohol, tobacco, cannabis, gambling, military and weapons, as well as other areas that have negative impacts on human rights, employees, and animal welfare. Focusing on socially responsible investments is a key component of their financial strategy in combining mutual aid put into faithful practice.[11]

Partnerships

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Kindred Credit Union partners with organizations, faith communities, credit unions, local businesses, and others to connect people, networks, financial resources, physical spaces, and products and services to make significant impact on important themes, found in their Community Inspiration Framework.[12]

A main partner for the credit union is the Kindred Credit Union Centre for Peace Advancement at Conrad Grebel University College (part of the University of Waterloo). The Centre officially opened in 2014 with the aim of recognizing the value of collaborative, interdisciplinary, and multisector approaches to the advancement of peace.[13] Kindred's contribution creates a space for young leaders with skills to tackle a problem they're passionate about in the community with the Peace Innovators Scholarship & Mentoring Program.[14]

The credit union has also historically contributed (and continues to contribute) in a variety of ways to the Coalition of Muslim Women in Kitchener-Waterloo,[15] Parkwood Seniors Community,[16] MennoHomes,[17] and others.

Awards

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As a Certified B Corporation, Kindred Credit Union has been on the "Best For The World" annual list since 2017,[7] ranking within the top 5% in their corresponding size group of all B Corporation members. For the past three years, they have consistently ranked Best For the World: Customers,[7] including 2022.[18]

The credit union was also a Platinum Winner for Aon's Canada's Best Employers in 2019, scoring among the top 25% of all companies surveyed.[19]

References

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  1. ^ a b Kindred Credit Union – History and Services, Kindred CU
  2. ^ "Kindred Credit Union Limited". Financial Services Regulatory Authority of Ontario. Archived from the original on April 21, 2022. Retrieved August 19, 2022.
  3. ^ Davis, Brent (February 27, 2016). "Mennonite Savings and Credit Union considering name change at Waterloo meeting". The Record. Archived from the original on August 19, 2022. Retrieved August 19, 2022.
  4. ^ Reiner, Veronica (November 29, 2018). "Kindred Credit Union names new CEO". The Observer. Archived from the original on September 30, 2020. Retrieved August 19, 2022.
  5. ^ "Members". Global Alliance for Banking on Values. Archived from the original on July 21, 2022. Retrieved August 19, 2022.
  6. ^ Hadfield, Miles (October 13, 2017). "Ontario's Kindred Credit Union joins global ethical banking group". Co-operative News. Archived from the original on September 23, 2020. Retrieved August 19, 2022.
  7. ^ a b c "Kindred Credit Union - Certified B Corporation - B Lab Global". B Corporation. Archived from the original on July 1, 2022. Retrieved August 19, 2022.
  8. ^ "Kindred Credit Union at Ontario Living Wage Network". Ontario Living Wage Network. Archived from the original on October 22, 2020. Retrieved August 19, 2022.
  9. ^ a b c "About Kindred". Kindred Credit Union. Archived from the original on September 21, 2021. Retrieved August 19, 2022.
  10. ^ "Thriving Together – 2021 Kindred Credit Union Annual Report and Financial Statements" (PDF). Archived (PDF) from the original on August 19, 2022. Retrieved August 19, 2022.
  11. ^ Marowits, Ross (January 21, 2021). "Halal investing gives Muslims opportunity to make money in line with religious values". Winnipeg Free Press. Archived from the original on August 19, 2022. Retrieved August 19, 2022.
  12. ^ Kindred's Community Inspiration Framework. Kindred Credit Union. September 21, 2021. Archived from the original on August 19, 2022. Retrieved August 19, 2022 – via YouTube.
  13. ^ "Our Inspiration Partner". Kindred Credit Union Centre for Peace Advancement. Archived from the original on March 3, 2022. Retrieved August 19, 2022.
  14. ^ "Peace Innovators Scholarship & Mentoring Program". Kindred Credit Union Centre for Peace Advancement. Archived from the original on March 25, 2022. Retrieved August 19, 2022.
  15. ^ "About Us - Contributors". Coalition of Muslim Women KW. Archived from the original on January 20, 2021. Retrieved August 19, 2022.
  16. ^ "Kindred contributes $125k to Parkwood Seniors Community for Affordable Housing". Banking With Purpose. May 24, 2022. Archived from the original on June 10, 2022. Retrieved August 19, 2022.
  17. ^ "Kindred Credit Union announces new partnership with $250,000 contribution to MennoHomes' capital campaign". Banking With Purpose. January 27, 2021. Archived from the original on October 18, 2021. Retrieved August 19, 2022.
  18. ^ "Login - Canadian Credit Union Association". Canadian Credit Union Association. Archived from the original on August 19, 2022. Retrieved August 19, 2022.
  19. ^ "Canada's Best Employers 2019: Small- and Medium-sized Companies". Canadian Business. November 8, 2018. Archived from the original on August 19, 2022. Retrieved August 19, 2022.
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Category:Canadian companies established in 1964

Category:Credit unions of Ontario

Category:Companies based in Kitchener, Ontario

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