First Nations Bank of Canada opens branch in Ermineskin Cree Nation

(ANNews) – The First Nations Bank of Canada (FNBC) recently celebrated the grand opening of their newest branch in the Ermineskin Cree Nation. The opening marks a significant milestone for the FNBC and the Ermineskin First Nation. The branch will serve all four First Nations bands in Maskwacis.

With the opening of this branch, the FNBC now has 20 full service branches and banking outlets across the country. The opening represents a commitment by the FNBC to ensure that First Nations communities have the best banking services available, that are located in their home communities.

“The FNBC aims to be the largest provider of financial services to Indigenous communities in Canada,” said Bill Lomax, President and CEO of the First Nations Bank of Canada.

“We have heard from First Nations across the country that they often face limited access to affordable capital with flexible terms, which slows down their dreams of building businesses and creating jobs at home. The creation of an FNBC full service branch in the Ermineskin Cree Nation will address that need, and help to provide affordable financing that is accessible to the people of this community.”

While many physical bank branches are closing across the country, the First Nations Bank of Canada is reversing the trend by making a major investment in the Ermineskin Cree Nation because of the economic growth potential and increasing need for commercial banking services from community members. The FNBC also made a donation of $5,000 to the local food bank as part of its vision to give back to the communities it serves.

“We are so happy to see a bank owned by First Nations, and built by Indigenous Peoples, open a branch in our community,” said Chief Joel Mykat, Ermineskin Cree Nation.

“We know that the opportunities in front of us are great, and having banking partners who understand our aspirations, and our desire to build a strong economic base for our community will be instrumental in our success for generations to come.”

The new bank branch will provide all services that are provided by traditional commercial banks. Clients of the FNBC can expect an enhanced experience, as the FNBC has worked with First Nations communities and businesses for nearly 30 years. Customers will be able to set up bank accounts, apply for loans, savings accounts and credit card services.  The FNBC Trust will also be available for long term strategic advice on wealth creation for individuals and corporations.

The FNBC will also work in collaboration with the Ermineskin Economic Department to identify existing and emerging small business owners who need financial support to create jobs and wealth creation for the community.

“We have many small and medium sized businesses that are poised for tremendous growth in the years to come,” said Justin Jimmy, President and CEO of the Neyaskweyahk Group of Companies.

“With a focus on infrastructure development in our region, and the need to scale our businesses, we needed a banking partner. As Canada’s only bank owned and operated by First Nations, the FNBC’s presence here will make all the difference for us to see our community thrive.”

The First Nations Bank of Canada is the largest Indigenous owned and led financial institution in Canada. More than 70% of FNBC’s employees are Indigenous, and Indigenous clients comprise 90% of its loan portfolio.