Alterna Savings honoured with 2012 MicroSkills Corporate Spirit Award

TORONTO, June 5, 2012 /CNW/ - Alterna Savings is proud to accept the 2012 MicroSkills Corporate Spirit Award from the Community MicroSkills Development Centre. The award recognizes an organization in the Greater Toronto Area (GTA) which demonstrates a commitment to good corporate citizenship by creating innovative opportunities for immigrants, visible minorities, low income women and/or youth.

The award acknowledges Alterna's efforts over the past 11 years in providing micro-financing to marginalized people in the Greater Toronto Area. Alterna's Micro-Finance Program offers a two-pronged approach to supporting it's members with a balanced mix of traditional financing and non-financial services. Non-financial services provide micro-entrepreneurs with education, networking opportunities and promotional assistance. A 2009 study found that the financial services provided by Alterna's Micro-Finance Program have led to an overall increase in income, housing, as well as general financial stability for borrowers.

The program has also had an impact that expands beyond individual borrows and into communities with significant job creation. The loans have allowed micro-entrepreneurs to build sustainable businesses that have the ability to hire in many cases multiple employees.

To date, Alterna's Micro-Finance Program has granted more than 400 loans totaling almost $2 million. "Alterna looks to continue to take a leading role in the development of micro-finance movement in Ontario. This award is reassurance that we continue to move in the right direction with our Micro-Finance Program" said John Lahey, President and CEO at Alterna Savings.

Alterna was proud to accept this award on May 31st 2012 at the Pearson Convention Centre in Toronto.

This is the second such honour Alterna has been granted in the last month, coming off the recently awarded 2012 National Credit Union Community Economic Development Award, in early May. Alterna is proud to receive recognition in this area and serves as assurance that micro-finance programs do have an important and demonstrative impact in the communities they serve.

To learn more about the 2012 MicroSkills Corporate Spirit Award visit:
http://www.microskills.ca/corporate-spirit-award/

Alterna Savings is a full-service, member-focused, and community-based credit union that operates in the National Capital Region and the Greater Toronto Area. Guided by a commitment to support the well-being of members, employees and communities, Alterna offers a broad range of financial products and services to over 100,000 members. Learn about the Alterna Savings difference at www.alterna.ca

SOURCE Alterna Savings

For further information:

Pamela Stewart, Vice President and Chief Marketing Officer, Alterna Savings,
416.252.5625 x7703, pamela.stewart@alterna.ca

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