First Nations Bank of Canada Community Banking Centre Opens in Pond Inlet, Nunavut

POND INLET, NU, Oct. 22, 2014 /CNW/ - First Nations Bank of Canada ('FNBC') is pleased to announce the Grand Opening of a full-service First Nations Bank of Canada Community Banking Centre® in Pond Inlet, Nunavut, on October 22, 2014. This is FNBC's second of three scheduled Community Banking Centres to open in Nunavut during 2014 and 2015. The Baker Lake Community Banking Centre® opened in March 2014.

"We are Canada's Aboriginal Bank, independently owned and operated by Aboriginal people for Aboriginal people," said Keith Martell, Chairman and Chief Executive Officer of First Nations Bank. "Our expansion in Nunavut reinforces our commitment to grow in communities where our shareholders live and work. Customers in Pond Inlet will for the first time have access to the services of a chartered bank in their community."

The Community Banking Centre will operate within the Tununiq Sauniq Co-operative retail store.  The Nunavut Community Banking Centres are being developed under an arrangement with Arctic Co-operatives Limited.  The relationship with Arctic Co-operatives Limited was established to expand much needed financial services in Nunavut .  "We are very pleased to partner with First Nations Bank of Canada to bring essential financial services to the people of the community of Pond Inlet. We anticipate improved financial literacy and economic benefits, through direct access to financial services, for the Members of Tununiq Sauniq Co-op", said Kono Tattuinee, President, Arctic Co-operatives Limited.

Inuit-owned Atuqtuarvik Corporation is the largest shareholder of FNBC. Atuqtuarvik has been extremely supportive of FNBC bringing a locally owned, capable and competent bank to Nunavut. Banking services are a critical part of a community's business infrastructure, and are critical for economic expansion. The presence of a full-service chartered bank in Pond Inlet, with Inuit ownership, will facilitate economic development and make personal financial services significantly more accessible.

"Our Bank is primarily focused on providing financial services to the Aboriginal marketplace," said Martell. "Working shoulder-to-shoulder with customers, businesses, and community leaders we create opportunity and prosperity for Aboriginal people."

About First Nations Bank of Canada
FNBC was founded in 1996 and is a Canadian chartered bank offering Aboriginal and non-Aboriginal people, corporations and governments a full-range of personal and business banking services, including loans, mortgages, investments (registered and non-registered), transaction accounts and cash management.

The Bank's Aboriginal shareholders include groups from Nunavut, Northwest Territories, Yukon, Saskatchewan, Manitoba and Quebec, who together own over 80% of the Bank. The Aboriginal shareholders are progressive, like-minded organizations, culturally and linguistically diverse and are all respected leaders in their regional economies.

With the support of its Aboriginal shareholders, the Bank has achieved consistent growth and profitability. Bank services are available through a network of eight full service branches, four community banking centres and electronic banking channels.

The Bank is a member of the Canada Deposit Insurance Corporation, the Canadian Payments Association and is an approved lender with Canada Mortgage and Housing Corporation and the First Nation Market Housing Fund.

Image with caption: "First Nations Bank of Canada (CNW Group/First Nations Bank of Canada)". Image available at: http://photos.newswire.ca/images/download/20141022_C3472_PHOTO_EN_6965.jpg

SOURCE: First Nations Bank of Canada

Keith Martell, Chairman and CEO, Phone: [phone], Email: [email protected]; Greig Cooper, Vice President of Operations, Phone: [phone], Email: [email protected]; or visit: www.fnbc.ca