FNBC Opens Kugluktuk's First Full-service Community Banking Centre

KUGLUKTUK, NU, Aug. 18, 2015 /CNW/ - First Nations Bank of Canada ('FNBC') today opened a First Nations Bank of Canada Community Banking Centre® in Kugluktuk, Nunavut, introducing full-service banking to the northern community.

"By continuing to expand our reach and bring much-needed services to the north, we are fulfilling our mandate of creating opportunities for Aboriginal people," said Keith Martell, Chief Executive Officer of First Nations Bank. "Kugluktuk is a growing, thriving community and access to financial services will help people build on their successes. This is what we do. We are Canada's Aboriginal Bank, independently owned and operated by Aboriginal people for Aboriginal people."

FNBC – with the support of its largest shareholder, Inuit-owned Atuqtuarvik Corporation – has now opened three Community Banking Centres in Nunavut over the past 18 months under an arrangement with Arctic Co-operatives Limited, which will be home to the new branch in Kugluktuk. The Baker Lake Community Banking Centre® opened in March 2014 and the Pond Inlet Community Banking Centre® opened in October 2014.

"We are very pleased to partner with First Nations Bank of Canada to bring essential financial services to the people of the community of Kugluktuk," said Kono Tattuinee, President, Arctic Co-operatives Limited. "We anticipate improved financial literacy and economic benefits, through direct access to financial services, for the Members of Kugluktuk Co-op."        

FNBC's Community Banking Centres® provide the business and personal banking services that are essential for the development of business infrastructure and economic expansion. With its focus on Aboriginal communities, FNBC now has the largest percentage of branches and community banking centres north of the 60^th parallel.

"Many Inuit communities are under-serviced and we are working to change that," said Greig Cooper, FNBC's Vice President, Operations. "Being in the communities, we have the chance to work shoulder to shoulder with customers, businesses, and community leaders. By understanding their needs, we can create a system that helps support 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, Alberta 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, five 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.

SOURCE First Nations Bank of Canada

Image with caption: "First Nations Bank of Canada (CNW Group/First Nations Bank of Canada)". Image available at: http://photos.newswire.ca/images/download/20150818_C8348_PHOTO_EN_479522.jpg

For further information: 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