First Nations Bank of Canada
Encyclopedia
First Nations Bank of Canada (FNBC) was established in 1996 after receiving Letters Patent
from the Government of Canada
. It began as a venture between TD Bank (now TD Canada Trust
) and Saskatchewan Indian Equity Foundation in 1993-94. It began operating on September 23, 1997 with the opening of its first branch in Saskatoon SK. $2 million dollars of start-up capital was provided by the Saskatchewan Indian Equity Foundation.
A branch in Chisabi, Quebec opened in July 1998. A branch in Walpole Island, Ontario opeened in March 1999. FNBC was created to service First Nations businesses, individuals and to be the bank of choice for land claims money.
As of November 1, 2009, the Bank has taken full control of its operations from TD Canada Trust and is now the only majority Aboriginal owned and controlled Bank in Canada.
and non-Aboriginal customers:
FNBC Branches:
Community Banking Centres:
(CBA) and registered member with the Canada Deposit Insurance Corporation
(CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:
Letters patent
Letters patent are a type of legal instrument in the form of a published written order issued by a monarch or president, generally granting an office, right, monopoly, title, or status to a person or corporation...
from the Government of Canada
Government of Canada
The Government of Canada, formally Her Majesty's Government, is the system whereby the federation of Canada is administered by a common authority; in Canadian English, the term can mean either the collective set of institutions or specifically the Queen-in-Council...
. It began as a venture between TD Bank (now TD Canada Trust
TD Canada Trust
TD Canada Trust is the personal, small business and commercial banking operation of the Toronto-Dominion Bank in Canada. TD Canada Trust offers a range of financial services and products to more than 10 million Canadian customers through more than 1,100 branches and 2,600 ATM Green Machines...
) and Saskatchewan Indian Equity Foundation in 1993-94. It began operating on September 23, 1997 with the opening of its first branch in Saskatoon SK. $2 million dollars of start-up capital was provided by the Saskatchewan Indian Equity Foundation.
A branch in Chisabi, Quebec opened in July 1998. A branch in Walpole Island, Ontario opeened in March 1999. FNBC was created to service First Nations businesses, individuals and to be the bank of choice for land claims money.
As of November 1, 2009, the Bank has taken full control of its operations from TD Canada Trust and is now the only majority Aboriginal owned and controlled Bank in Canada.
Services
FNBC offers services to AboriginalAboriginal peoples in Canada
Aboriginal peoples in Canada comprise the First Nations, Inuit and Métis. The descriptors "Indian" and "Eskimo" have fallen into disuse in Canada and are commonly considered pejorative....
and non-Aboriginal customers:
- Deposit accounts
- Investments
- Micro Loans
- Cash Management
- Credit Products
- Other services through TD WaterhouseTD WaterhouseTD Waterhouse is the brand used for both Canadian and British brokerages within the TD Bank Financial Group. It was also formerly used for TD's American brokerage....
and TD Mutual Funds - ABM access with TD Canada TrustTD Canada TrustTD Canada Trust is the personal, small business and commercial banking operation of the Toronto-Dominion Bank in Canada. TD Canada Trust offers a range of financial services and products to more than 10 million Canadian customers through more than 1,100 branches and 2,600 ATM Green Machines...
'Green Machines'
Operations
Corporate Offices:- SaskatoonSaskatoonSaskatoon is a city in central Saskatchewan, Canada, on the South Saskatchewan River. Residents of the city of Saskatoon are called Saskatonians. The city is surrounded by the Rural Municipality of Corman Park No. 344....
, SK - executive offices
FNBC Branches:
- Chisasibi, QuebecChisasibi, QuebecChisasibi is a village on the eastern shore of James Bay, in the Eeyou Istchee territory in northern Quebec, Canada. It is situated on the south shore of La Grande River , less than from the river's mouth...
- Iqaluit, NunavutIqaluit, NunavutIqaluit is the territorial capital and the largest community of the Canadian territory of Nunavut. Iqaluit is located on the south coast of Baffin Island at the head of Frobisher Bay. As of the 2006 census the population was 6,184, an increase of 18.1 percent from the 2001 census; it has the...
(opening May 2010) - Meadow Lake, SaskatchewanMeadow Lake, SaskatchewanMeadow Lake is a city located in north west Saskatchewan, Canada about north east of Lloydminster and north of North Battleford. On November 9, 2009, it officially became Saskatchewan's 14th city....
- SaskatoonSaskatoonSaskatoon is a city in central Saskatchewan, Canada, on the South Saskatchewan River. Residents of the city of Saskatoon are called Saskatonians. The city is surrounded by the Rural Municipality of Corman Park No. 344....
Saskatchewan - Wallaceburg, OntarioWallaceburg, OntarioWallaceburg is an unincorporated community and town located in the municipality of Chatham-Kent in Southern Ontario, Canada. Originally a small settlement, it was recognized for its significant contribution to the lumber and boat building industries and strategic location along the banks of the...
, (Walpole Island First NationWalpole IslandWalpole Island is an island and Indian reserve in southwestern Ontario, Canada, on the border between Ontario and Michigan in the United States. It is located in the mouth of the St. Clair River on Lake St. Clair, approximately thirty miles northeast of Detroit, Michigan, and Windsor, Ontario.In...
) - Winnipeg, Manitoba
- Whitehorse, YukonWhitehorse, YukonWhitehorse is Yukon's capital and largest city . It was incorporated in 1950 and is located at kilometre 1476 on the Alaska Highway in southern Yukon. Whitehorse's downtown and Riverdale areas occupy both shores of the Yukon River, which originates in British Columbia and meets the Bering Sea in...
Community Banking Centres:
- Buffalo River, Saskatchewan
- Onion Lake, Saskatchewan
- Nemaska, QuebecNemaska, QuebecNemaska is a small Cree community located on the shores of Lake Champion, in Quebec, Canada. It is the smallest Cree village with a population of 560 people...
Membership
FNBC is a member of the Canadian Bankers AssociationCanadian Bankers Association
The Canadian Bankers Association is a financial lobbying group that works on behalf of 52 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA was organized in Montreal in 1891, making it one of Canada’s oldest interest...
(CBA) and registered member with the Canada Deposit Insurance Corporation
Canada Deposit Insurance Corporation
-External links:*** Official CDIC site*...
(CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:
- InteracInteracInterac Association is a Canadian organization linking enterprises that have proprietary networks so that they may communicate with each other for the purpose of exchanging electronic financial transactions. The Association was founded in 1984 as a cooperative venture between five financial...
- VISAVISA (credit card)Visa Inc. is an American multinational financial services corporation headquartered on 595 Market Street, Financial District in San Francisco, California, United States, although much of the company's staff is based in Foster City, California. It facilitates electronic funds transfers throughout...
International - Canada Mortgage and Housing CorporationCanada Mortgage and Housing CorporationCanada Mortgage and Housing Corporation is a Crown corporation, owned by the Government of Canada, founded after World War II to provide housing for returning soldiers...
- Canada Deposit Insurance CorporationCanada Deposit Insurance Corporation-External links:*** Official CDIC site*...
- Canadian Payments Association