Alterna - Acclaimed Directors

Andy Cragg
Acclaimed Director

Andy Cragg has been a member of the Alterna Savings since 2017 and prior to that was a member of the Board of Directors of the Peterborough Community Credit Union before its merger with Alterna Savings in 2016. From 2019 to 2015, Andy was the Executive Director of the New Canadians Centre Peterborough, a non-profit charitable organization dedicated to supporting immigrants, refugees and other newcomers to become full and equal members of Canadian society.

Andy has a Master of Arts degree from Trent University, in Canadian Studies and Indigenous Studies, where he wrote his thesis on Canadian immigration policy. Having worked as a musician since the age of 17, Andy is passionate about the arts and has served on Peterborough’s Arts, Culture, and Heritage Committee. Andy is also an active cyclist and avid ultimate frisbee player, serving as treasurer on the Peterborough Ultimate League. In what spare time remains, Andy loves to head to the lakes and woods of Ontario to go camping with his partner and three young children.

I believe in the importance of having a strong Credit Union sector to provide cooperative and community-focused financial services to Canadians. I am keen to continue to serve on the board of Alterna to help ensure ongoing success and impact of our credit union.

From 2019 until 2025 I was the Executive Director of the New Canadians Centre Peterborough, leading a team of 45+ employees as we delivered on our mission to empower people who are new to Canada, so they could be recognized as equal and valued members of Canadian society.

As a mid-career professional with young children, I bring to the board a perspective on the needs of a demographic that is part of the future membership of our credit union. Through my service on the board of Alterna Savings and previously Peterborough Community Credit Union, I have gained significant governance experience and understand well the oversight role of boards of directors. I have also invested significant time in increasing my knowledge and skill to be an effective board member, and I am keen to continue to apply this to the benefit of Alterna and our members.

While the majority of our membership is concentrated in Toronto and Ottawa, Alterna also has a meaningful presence in a number of smaller communities, including Peterborough where I live; I believe that it is important to have board members who represent the regional diversity of our membership.

I am also very involved in my community and appreciate the community focus of credit unions, including Alterna. As a board member, I would continue to support Alterna’s active role in the communities where we operate.

Bianca Garofalo
Acclaimed Director

Bianca Garofalo is an entrepreneur who brings her business and governance experience to the Board of Alterna Savings. Currently serving two years as Board Chair, Bianca has been a Board Member since 2016. Within her community, Bianca currently sits on the Board of the Thunder Bay Airport Authority. She is a Past Chair of Thunder Bay Chamber of Commerce and of the Municipal Accomodation Tax Fund through the CEDC, overseeing funding requests that drive economic development within Thunder Bay.

As a local entrepreneur, Bianca Garofalo has been involved in the business community since 2006. Starting her first successful business at the age of 31, Bianca exhibits all the definitive characteristics of an entrepreneur. Bianca’s incredible personal drive would lead her to continually look for opportunities for expansion, relocation and successful new business ventures. In 2012, with her proven track record in the restaurant industry, Bianca embarked on the groundbreaking development at Thunder Bay’s Marina Park.

Bight Restaurant & Bar opened its doors in December of 2012 to an enthusiast market. In 2015 Bight was awarded the New Business Excellence Award by the Thunder Bay Chamber of Commerce. Continued expansion in 2014 led to the acquisition of Giorg Ristorante and again in 2016 with the opening of El Tres. These businesses are also responsible for the creation of up to 100 jobs in the local economy. For these efforts, Bianca was awarded “Young Entrepreneur of the Year” at the Influential Women of Northern Ontario Awards in 2013. Bianca also provides mentorship to the CYBF & the CEDC Business Starter Program and has been an instructor in the Business Department at Confederation College. Bianca resides in Thunder Bay, ON with her husband and two sons.

I am seeking the opportunity to serve a fourth term on the Board of Directors for Alterna Savings. I have been a contributing member of the board since my election in 2016 and a proud credit union member since 2006.

I believe strongly in the philosophies of the co-operative sector. I credit the former Northern Lights Credit Union in Thunder Bay for supported my first business. I enthusiastically accepted a Board position with Northern Lights in 2014. On this Board I gained valuable experience about financial services. Since my election to the Alterna Board in 2016, I have continually expanded my personal growth through education and industry events. I have been a member of the Risk, Finance and Audit Committee for 9 years. I have also chaired the Nominating Committee, been Vice Chair for two years and currently hold the position of Chair, which allows me to work closely with the CEO, our peers in the sector, the regulator and other important stakeholders.

I believe we are at a pinnacle point in the financial services sector, as credit unions face increased challenges. We need experienced leadership right now. As a Board Member over the last 9 years, I have worked closely with management to ensure Alterna has a solid foundation to build-up through successful mergers and organic growth initiatives. I believe this why we have been able to remain one of the largest credit unions in Ontario with over 8 billion is assets. Over the next three years, I will continue to ensure the strategic initiatives developed in partnership with management keep Alterna strong. If re-elected I pledge to work hard to always represent the best interests of our members ensuring investments in what matters most to you through better products & service, technology and sustainable growth.

Faren Bogach
Acclaimed Director

Faren Bogach is a lawyer and the founder of Construct Legal, a law firm focused on construction and infrastructure law. Faren drafts contracts, manages risk and litigates disputes. Faren has received recognition as Best Lawyer™, and by Post City Magazine for her work. Prior to founding Construct Legal, Faren was a partner at a large law firm in downtown Toronto.

Faren also has extensive board experience. Faren is currently the chair of two not-for-profit organizations that provide and are building more affordable housing in Scarborough. She was formerly a director of the Canadian Association of Women in Construction. Faren has been on the board of Alterna Savings for 8 years in total.

Faren writes about thought leadership to her over 10,000 followers on LinkedIn. She speaks at seminars on law firm management, compensation, mentoring and construction law.

On the weekend, Faren tries to keep up with her three kids and spends many early mornings at the hockey rink.

I have been advocating for credit unions since I was 11. I was a member of Alterna Savings. My peers would often ask: “what is a credit union?”. First, I would state that despite its name, a credit union is not a union; followed by “a credit union is like a bank, but better!”. I would then explain that a credit union is a unique type of financial instruction that has a membership structure that focuses on its members and not paying dividends to shareholders.

Just before I was called to the bar of Ontario, I was elected to the board of Alterna Savings. I was on the Alterna board from 2008 to 2014. I was part of developing the strategic plan and selecting the current CEO of Alterna. As a board member, I was also very fortunate to witness the talented Alterna staff, from branch to boardroom.

Since 2014, I had three children, co-founded a software company, sat on three other boards of directors, and started my own law firm. I have negotiated, settled, and litigated complicated matters.

In 2023 I was re-elected to the board of directors of Alterna. I am honoured and proud to serve as a director.

I believe that I can contribute to Alterna Savings using

1. my work experience - assessing risk and providing strategic advice;
2. my software experience- innovating with technology;
3. my board experience – providing oversight of different sized organizations; and
4. my small business owner experience –understanding business as well as the needs of corporate members.

I am seeking election the board of Alterna Savings so that I can continue to advocate for Alterna Savings. I will use my enthusiasm, as well as my board and work experiences to do my best to serve the membership.

Richard Neville
Acclaimed Director

Rick has been a committed member of our Credit Union for the past 49 years. Not only has he served as a member of the Board of Directors of CS CO-OP and Alterna Savings for the past 31 years, he has chaired both the Alterna Bank Board of Directors from 2005 to 2009 and the Alterna Savings Board of Directors from 2009 to 2010. Rick currently chairs the Finance and Audit Committee and is a member of the Governance Committee.

Rick obtained his designation as a Chartered Accountant while articling with Clarkson, Gordon & Company (today part of Ernst & Young) after having obtained his Bachelor of Commerce (Honours) degree from the University of Montreal, Loyola College and completing his post-graduate studies in accounting and auditing at McGill University. Rick was appointed a Fellow Chartered Accountant and conferred the initials FCA. He has also been honoured by being named a Fellow Chartered Professional Accountant (FCPA) in Ontario, Quebec and Alberta.

Rick has 36 years in the Federal Public Service and gained extensive experience at the most senior levels of the Federal Government. He has held several positions at the Assistant Deputy Minister level. He was appointed Assistant Comptroller General of Canada in 1995 and Deputy Comptroller General of Canada from 1999 to 2005.

From 2005 to 2009, Rick contributed to turning around the financial position of the Royal Canadian Mint while serving as Vice-President, Finance and Administration and Chief Financial Officer.

Community service has always been a key priority for Rick. His contribution has included the position of Treasurer for his parish church where he was significantly involved in the funding and building of its new church. Recently, Rick has been honoured as a “Knight ” of the Order of St. John’s.

Rick’s hobbies include golfing, skiing, traveling and reading.

If I am re-elected as a Director, once again, my commitment to the members of Alterna Savings will be:

To provide leadership and good governance to the Board of Directors to ensure thatthe best practices that exist in the Credit Union movement today are reflected in our Board of Directors;
To ensure that my extensive experience in financial management will assist Alterna Savings in meeting its financial goals;
To devote more resources to the co-operative support of community development activities and to help small businesses get started and thrive;
To promote the values of the co-operative movement, in general, and more specifically as they affect Alterna Savings; and
To complete the integration of PACE members into the Alterna Savings family.

As a first priority, it is incumbent on Alterna Savings to reach its full potential in terms of meeting its objectives, its financial growth and its duty of care to members. I will devote the time, energy and intellectual effort required to reach these objectives.

My years of experience as a Director and Chair of the Board of Directors of Alterna Savings, Alterna Bank and other Boards of Directors, in the private sector, have allowed me to better understand the scope of the responsibilities of management and those of the Board of Directors in order to ensure that they work together, in unison, to reach mutual goals and objectives. As a team player, if re- elected, once again, I will work effectively with my fellow Directors on the Board, with the President, CFO and the Senior Management Team at Alterna Savings.

It would be an honour for me to continue serving the members of Alterna Savings and Alterna Bank.

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2026 Acclaimed Directors

Acclaimed Directors