SASKATOON, Sept. 12, 2012 /CNW/ - First Nations Bank of Canada (FNBC) today announced that its transition from the operating systems, products and services of The Toronto-Dominion Bank (TD) is now complete. Meeting the needs of the Aboriginal market is a primary focus of the Bank. The new operating system launched on Monday enables the Bank to better meet those needs.
"This is a historic day for FNBC and Aboriginal families, businesses and communities across Canada," said Keith Martell, Chairman and Chief Executive Officer for FNBC. "We now have the autonomy, systems and services to fully meet our mandate, which is to serve the growing needs of the Aboriginal marketplace."
In 2007, First Nations Bank of Canada signed a 7-year shared services agreement with TD to leverage its banking systems, and many of its products, to meet the needs of its customers. According to Arden Buskell, President and Chief Operating Officer for FNBC, it is gratifying that FNBC was able to achieve operational self-sufficiency a full two years before the agreement was scheduled to end.
"Our goal was always to move quickly and confidently on our path toward independence while trying to minimize the impact of the change on our customers," said Buskell. "We appreciate the hard work of our employees, the patience of our customers and the cooperation of TD to make this transition possible."
Since its inception in 1997, First Nations Bank has opened seven full-service branches in four provinces and two territories and achieved fourteen consecutive years of asset growth. Martell credits the success and growth of FNBC to the trusting relationships the Bank has fostered with its customers.
"For many of our customers, the path to growth and opportunity started at First Nations Bank with a simple conversation," explained Martell. "One conversation at a time, we have grown relationships in regions across Canada, connecting with customers on a personal level, serving them in their home communities and helping them tap into the capital and financial resources they need to step into a brighter future."
"Now we have the capacity to offer our own products and services, tailored to the needs of our customers; we have the tools to grow and expand our reach even further."
First Nations Bank of Canada (FNBC) is a Canadian chartered Bank focused primarily on providing financial services to the Aboriginal marketplace. Over 80% of the Bank's shareholders are Aboriginal who share FNBC's commitment to the financial needs of growing Aboriginal families, businesses and communities. FNBC is an approved member of Canada Deposit Insurance Corporation and Canadian Payments Association and an approved mortgage lender with Canada Mortgage and Housing Corporation.
SOURCE First Nations Bank of Canada