ALTERNA
SAVINGS
(OTTAWA)
PROFESSOR:
STUDENT NAME:
STUDENT NUMBER:

ALTERNA SAVINGS (OTTAWA)
• Alterna Savings and Credit Union limited is a credit union and it is mostly
known by the name of the Alterna Savings.
• It is basically based in Ottawa, Canada.
• It contains $8 billion of assets as per the management and has 166,000
members as well as 35 branches.
• It has up to 500 employees and was found on September 3rd, 1908.

HISTORY
OF ALTERNA
SAVINGS
The organization had an event that provided major
growth that was held on April 1st, 2005 that
merged with CS CO-OP & Metro Credit Union.
The assets were combined that were almost $1.8
billion.
The merger was called as "first of its size to be
approved in Ontario history".
The merger was named as Alterna as adopted by
the parent organization.

COMPANY
GROWTH AND
TRANSITION
Oct. 2013
Ottawa
Women's
Credit Union
Mar. 2016
Peterborough
Community
Savings
Dec. 2016
Nexus
Community
Savings
Dec. 2018
Toronto
Municipal
Employees'
Credit Union
May 2019
City Savings &
Credit Union
Ltd.
June 2020
Quinte First
Credit Union
Oct. 2020
Member
Savings Credit
Union Ltd.

ORGANIZATIONAL
STRUCTURE
• The organization consists of 6
companies in different locations.
• It has 500 employees in the
organization of all the sites and 250
on this site.
• The president of the organization
is Robert Paterson followed by Jose
Galant that is the senior vice
president.

VISION AND MISSION
The goal of the organization is to see the individuals,
communities and employees to thrive.
The organization believes in a purpose of making profits and
also keeping the communities and individuals satisfied.
The organization have all the members that are like minded
and thrive to solve all the issues collectively.

PURPOSE OF ALTERNA SAVINGS
To earn profits with the profitability
of all the communities and all the
employees.
It helps and has a purpose of making
home buying more affordable.
The purpose of this organization is to
make banking easy.

CANADA
GROSS
SAVING
RATES

PRODUCT AND SERVICE DESCRIPTION
• The organization deals in certain products and services related to
banking and investments.
• The services consists of everyday banking, Homebuying, Investments in
different terms and helps in establishment of business.
• The organization also provides the facility of mobile banking
facilities for accessing the account and enjoying the facilities with the
help of login id and passwords.

POLICIES FOR
CORPORATE
SOCIAL
RESPONSIBILITY
The organization believes in sharing a
commitment towards the development of the
young individuals and also giving a proper
experience to the consumers.
The company contributes towards the corporate
social responsibility by different types of
donations and recycling process.
The committee of the organization helps in
improving the resilience and capacity by
supporting the amplified causes provides
fundings for charities.

SPECIAL PROGRAMS AND PROJECTS
Community Financial Resiliency
Program: Increases and
improves sustainability.
Microfinance program: Addresses
the socio-economic inequity with
the help of different financial
opportunities.
Financial literacy program:
Workshops related to financial
literacy for all the age groups.
Financial Inclusion Grant Program:
This grants the 1 or 2 organization
annually with $40,000 .

DISTINCTION AWARDS
The organization has given
an Alterna Savings Social
Responsibility Award to a kid
Ajmal Sataar for showing
innovation and had so many
business and entrepreneurship
ideas.
The organization won 15
customer
excellence awards on 9th June,
2021 from Greater Toronto
contact centre.
The organization announces
Gary Gillam award in 2021.

HEALTH AND
SAFETY POLICIES
• The organization believes that health and
safety is very imperative in an
organization and attempts to make a
comfortable place for the employees.
• The organization continuously consists of
provisions for the security and safety with
the help of different events that are held
to control different disasters.
• The employees can report immediately to
the supervisors in the case of any
problems and issues faced by the
organization.

ADVERTISING
MODE
• Twitter
• Facebook
• Instagram
• Youtube
• Linkedin

OTHER FORMS OF
ADVERTISEMENTS
INCLUDE
Promotional campaigns
Social media
Travel related events
Onsite promotions
Usage of logos and marks
Online signage.

PUBLIC RELATIONS
The organization has shaken hands with the cooperation's
and follows certain government policies.
The organization announces and organizes many charitable
events that helps the organization to carry its operations
properly.
The communications forms are carried out properly for
knowing the requirements of the customers.

FINANCING
• The financing of Alterna savings is done with the help of
community microfinance program and also loans that
are available.
• The funding is done as it is a credit union.
• The sales were seen as $67.92 million.
• Limited financing.

REFERENCES
Jackson, E. T., & Tarsilla, M. (2018). 5. Mixed
Methods in Social Accounting: Evaluating the
Micro-Loan Program of Alterna Savings Credit
Union. In Accounting for social value (pp. 117-
138). University of Toronto Press.
Rouf, K. A. (2012). Green microfinance
promoting green enterprise
development. Humanomics.
Christensen, K., Bellefontaine, C., & Peters, T.
(2017). Current Trends in the Canadian Credit
Union Sector. Banking & Finance Law
Review, 33(1), 73-82.

REFERENCES
Alterna savings, 2021,. "Alterna Savings and Credit Union
Limited - the Good in Banking for over 110 years!"
Online.
Available at: https://www.alterna.ca/AboutUs/ Accessed
on : [23rd November, 2021]
Shenouda, N. (2020). Social Capital as a Determinant of
Microfinance Clients' Outcomes (Doctoral dissertation,
University of Toronto (Canada)).
Burger, T. (2016). Social Purpose Enterprises: Case
Studies for Social Change.