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.

 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

HISTORY billion. 

OF ALTERNA
The merger was called as "first of its size to be
SAVINGS approved in Ontario history".

The merger was named as Alterna as adopted by

the parent organization. 
 Ottawa Nexus City Savings & Member
Women's Community Credit Union Savings Credit
Credit Union Savings Ltd.  Union Ltd. 

COMPANY Oct. 2013 Dec. 2016 May 2019 Oct. 2020

GROWTH AND
TRANSITION  Mar. 2016 Dec. 2018 June 2020

Peterborough Toronto Quinte First

Community Municipal Credit Union
Savings Employees'
Credit Union
 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 It helps and has a purpose of making The purpose of this organization is to
of all the communities and all the home buying more affordable.  make banking easy. 
employees. 
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. 
 The organization believes in sharing a
commitment towards the development of the
young individuals and also giving a proper
POLICIES FOR experience to the consumers. 

CORPORATE
The company contributes towards the corporate
SOCIAL social responsibility by different types of
donations and recycling process. 
RESPONSIBILI
TY 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

Microfinance program: Addresses

Community Financial Resiliency
the socio-economic inequity with
Program: Increases and
the help of different financial
improves sustainability. 
opportunities. 

Financial literacy program: Financial Inclusion Grant Program:

Workshops related to financial This grants the 1 or 2 organization
literacy for all the age groups.  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
The organization announces
excellence awards on 9th June
Gary Gillam award in 2021. 
, 2021 from Greater Toronto
contact centre.
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 
 Promotional campaigns

Social media 

OTHER FORMS
Travel related events 
OF
ADVERTISEME Onsite promotions
NTS INCLUDE
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. 
 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.
REFERENCES 

Christensen, K., Bellefontaine, C., & Peters, T.

(2017). Current Trends in the Canadian Credit
Union Sector. Banking & Finance Law
Review, 33(1), 73-82.
 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,
REFERENCES University of Toronto (Canada)).

Burger, T. (2016). Social Purpose Enterprises: Case

Studies for Social Change.