Credit union highlights culture, thoughtful growth and community impact as key areas of differentiation

TORONTO, ONTARIO  – As the financial services industry in Canada becomes increasingly transactional in nature, Alterna Savings is intentionally delivering a more personal, hospitality-driven banking experience for its members.

While most financial institutions offer a similar range of products, Alterna believes the real difference lies in how those products are experienced by members. 

“At Alterna, we believe the future of banking is more personal, not less,” said Rob Paterson, President and Chief Executive Officer of Alterna. “Products will always matter, but what truly differentiates an organization is how those products are delivered. Our focus is on taking a hospitality-minded approach and serving with heart. That means creating interactions that are thoughtful and tailored to our members’ needs, and ensuring those members feel genuinely recognized and cared for during all of their big and small financial moments.”

Alterna is making steady progress with this deliberate shift toward more meaningful, relationship-based banking, while continuing to deliver strong financial results. That progress is anchored in three key areas: culture, growth, and community impact.


Service-focused culture 

Culture is the foundation of Alterna’s ability to deliver consistent, relationship-based service and is actively embedded in how teams are hired, led, and supported every day. Members regularly point to the organization’s people, and the relationships built with them, as what sets Alterna apart. Those experiences are shaped by a clear focus on connecting, listening, and acting in ways that are genuinely personal.

“We’ve been very intentional about building an organizational culture that prioritizes the member experience,” said Paterson. “We realize that being known, understood and supported, really matters to our members, and that drives how we work together every day.”

In 2025, Alterna refreshed its organizational values to further reinforce that approach and introduced a clear purpose statement: “We help you find a path to realize your dreams.” That purpose guides decisions and ensures teams are not just delivering products but partnering on a financial journey that supports a members’ progress over their lifetime.

As a visible symbol of its culture and service approach, and a reminder of the care and commitment Alterna feels towards its members and communities, employees now wear heart pins as part of a broader effort to make the organization’s culture tangible in everyday interactions. 


Growing to better serve members

The 2025 merger with Tandia Financial Credit Union, Alterna’s ninth and largest to date, expanded the organization’s reach, capabilities, and branch network across Ontario. The vision was to create more access points, more expertise, and more opportunities to deliver meaningful service.
“Growth is only meaningful if it helps us better serve our members,” said Paterson. “This merger gives us more access points, more choices, and more ways to support members through life’s important moments.”


Helping build their communities

One of Alterna’s most important points of differentiation is their commitment to the communities where their members live and work. This demonstrates its focus on care and connection beyond individual members to the broader community. 

In 2025, the organization celebrated the 25th anniversary of its Community Microfinance Program, which has invested more than $10 million in impact loans to support entrepreneurs and build economic opportunity. 

It also continued to expand its Community Financial Resiliency and granting programs, which have disbursed nearly half a million dollars since 2014 to organizations supporting underserved individuals and communities. 

“Our impact in the community is one of the clearest ways we bring our purpose to life,” noted Paterson. “By investing in financial inclusion, supporting entrepreneurs, and strengthening communities, we create meaningful value that extends well beyond banking.”

As the financial services landscape continues to evolve, Alterna says it will continue to differentiate itself by delivering a more personal, thoughtful banking experience that is built on relationships, supported by strong capabilities, and rooted in a commitment to serve members with heart.

About Alterna 🧡

Alterna Savings and Credit Union Limited (Alterna Savings) has been The Good in Banking® for over 115 years and has recently been recognized as a Top Employer in the National Capital Region for the tenth consecutive year. Together with Alterna Bank, our wholly owned subsidiary and one of Canada's most innovative digital banks for over 25 years, we're delivering financial solutions that put people before profits.

As the first full-service, member-owned cooperative financial institution outside Quebec, Alterna Savings shares its expertise with over 230,000 members through a network of 47 branches across Ontario, as well as call centre, and digital channels. Members and customers also benefit from industry-leading online brokerage, investment management services, and access to over 43,000 surcharge-free ATMs in North America with THE EXCHANGE Network in Canada and the Allpoint Network in the U.S.

Alterna Savings and Credit Union Limited operates as Alterna Savings, a credit union in Ontario. Follow Alterna on Facebook, LinkedIn, and X. For information on deposit insurance, please ask for a brochure at any Alterna branch, or visit the Financial Services Regulatory Authority of Ontario's website: www.fsrao.ca