Congratulations to Alterna Savings and Credit Union (Alterna), this year’s recipient of the National Credit Union Community Economic Development Award for the Alterna Community Micro-Finance Program! The Community Economic Development award was created to honour outstanding contributions by credit unions to the economic development of the communities they serve.
More than ten years ago, Alterna Savings developed a micro finance program to provide passionate entrepreneurs, who do not typically meet the lending criteria of most traditional financial institutions, the skills and resources they need to create a sustainable future for themselves, their families, and for the community. The program includes a series of integrated services such as financial planning, networking resources and marketing and promotional support that are designed to help bring success to the borrower’s business. This is a highly successful program: since its launch Alterna Savings has granted over 400 loans totaling close to $2 million.
Alterna’s Community Micro-Finance Program is featured as a success story on the CUSR InfoHub, and you can learn more about the program by clicking here.