Kindred Credit Union: Banking with Purpose and Principles

Kindred Credit Union is a not-for-profit financial cooperative that operates on the principles of fairness and community involvement. It was founded in 1975.

Kindred Credit Union has a strong focus on serving its members, with a goal of providing affordable financial services that benefit the community. This approach has allowed it to maintain a loyal membership base over the years.

One of the key ways Kindred Credit Union achieves this is by offering competitive rates on its products and services, making it an attractive option for those looking for a more affordable banking option.

Kindred Credit Union has a rich history that dates back to its origins as the Waterloo County Mennonite Credit Union. The credit union has undergone two name changes prior to being renamed Kindred Credit Union in 2016.

This name change was made to appeal to a broader range of prospective clients, indicating a shift in strategy to expand its membership base. The credit union had already extended its membership eligibility beyond Mennonites, Amish, and Be in Christ church members in 2010.

As of September 2024, Jason Daly is the CEO of Kindred Credit Union, taking over from Ian Thomas who led the credit union from 2019 to 2023. Prior to Ian Thomas, Brent Zorgdrager served as CEO from 2010 to 2018.

Kindred Credit Union is a member of the Global Alliance for Banking on Values and has been a Certified B Corporation since December 2016. This certification recognizes the credit union's commitment to socially responsible practices.

The credit union is also a Certified Living Wage Employer, part of the Ontario Living Wage Network. This distinction highlights Kindred's focus on fair labor practices and employee welfare.

Kindred Credit Union's banking philosophy is centered around putting members first. They believe in empowering their members to take control of their financial lives.

Their approach is built on the idea that credit unions are member-owned cooperatives, not for-profit businesses. This means they prioritize their members' needs over shareholder profits.

As a not-for-profit financial institution, Kindred Credit Union is able to offer more competitive rates and lower fees. They're also more accountable to their members, who have a say in how the credit union is run.

Their focus on community involvement is evident in their partnerships with local organizations and events. By giving back to the community, Kindred Credit Union strengthens the very fabric of the society it serves.

As a result, Kindred Credit Union has been able to maintain a strong reputation for integrity and transparency. Members trust them to make the right decisions for their financial well-being.

Kindred Credit Union has made a significant shift in its approach to membership, rebranding as "Kindred" in 2016 to broaden its reach and community impact.

This strategic change allowed the credit union to expand its community, encompassing over 28,000 members as of 2024, including individuals from diverse faith denominations and Ontarians who share its purpose and values.

The credit union has also become B Corp certified, demonstrating its dedication to social and environmental responsibility, and remains committed to this certification.

Kindred has maintained a steadfast commitment to excellence, upholding its status as a Living Wage employer and an active member of the Global Alliance for Banking on Values (GABV) alliance.

The credit union's commitment to its mission of banking with purpose has led to the introduction of innovative products like the Affordable Housing GIC and Loan, addressing pressing social issues.

By focusing on ethical banking and community development, Kindred is poised to inspire positive change for many more years to come.

Kindred Credit Union has made a significant impact on the community through its Profit Shares programme, distributing CAD 1.46 million in 2022 alone.

This programme has allowed Kindred to contribute to important causes such as affordable housing and food security, making a tangible difference in the lives of many.

In addition to its financial contributions, Kindred has also broadened its reach by becoming B Corp certified and joining the GABV in 2019.

This strategic transformation has enabled Kindred to connect values and faith with finances, inspiring peaceful, just, and prosperous communities.

By taking a values-driven approach, Kindred has been able to make a meaningful impact on the community and create a positive difference in the lives of its members.

At Kindred Credit Union, we're proud to partner with organizations that share our values of community, integrity, and financial well-being.

One of our preferred partners is the local food bank, which receives annual donations from Kindred Credit Union to help feed those in need.

We also partner with local schools to provide financial education and literacy programs to students, helping them develop healthy financial habits from a young age.

Kindred Credit Union has a long-standing partnership with the local hospital, providing financial assistance to patients in need and supporting the hospital's mission to provide quality healthcare to the community.

Our partnership with the local community center allows us to offer financial workshops and seminars, helping individuals and families manage their finances and achieve their goals.

Achieving financial wellness is a journey, not a destination. Kindred Credit Union's "Make Peace with Your Money" approach emphasizes cooperation and mutual aid to meet the needs of all members.

By joining a cooperative entity that shares their values, members can have peace of mind knowing their finances are safeguarded. This sense of security is a key component of financial wellness.

Kindred's focus on affordable financial services ensures that everyone has access to the tools they need to manage their money responsibly. This is especially important for those underserved by big banks.

The Affordable Housing GIC and Loan, Community Inspiration GIC, and Crisis Care GIC and Loan are just a few examples of how Kindred promotes acts of compassion and sharing. These initiatives inspire peace and support the collective economic and social interests of members.