ACU announces new McGregor location

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This article was published 26/10/2011 (5182 days ago), so information in it may no longer be current.

Rose Maxwell won’t be taking the bus as much anymore — and you can take that to the bank.

The 64-year old North End resident said last week’s announcement that Assiniboine Credit Union will build a new branch at 360 McGregor St. will mean fewer visits to cheque cashing shops and less time spent on city buses.

“It will make a few days each month a lot easier,” she said.

A total of 10 bank branches in the North End were closed between 1996 and 2009, leaving behind just two credit unions. The neighbourhood still doesn’t have its own full-service bank.

A number of ACU officials attended an Oct. 19 announcement about the new North End branch. Ironically, it will be located in a former Royal Bank branch that closed 15 years ago.

The event was also attended by representatives of the Winnipeg Foundation and other investors.

“A building that was abandoned years ago is now coming back full circle to provide affordable financial services to the community again,” said ACU president Al Morin.

David Golub, a Winnipeg lawyer with North End roots, said the return of a financial institution to the corner of McGregor and College is good news for the neighbourhood.

Brent Differ, who will serve as branch manager of the McGregor and College location and is an area resident, said the credit union is desperately needed in the North End.

“This area is quite under-serviced,” he said.

Arthur Gunn from Gunn’s Bakery, a business with 75 years of history in the North End, welcomed the credit union.

“One by one the banks abandoned the area,” he said. “Credit unions have stepped up to the plate to help fill the void.”

ACU officials noted the credit union has been making plans for a North End location for several years.

Board member Garry Loewen said community partnerships allowed the project to be fast-tracked for an early 2012 opening.

“Our business case was built on needing $6 million of new business to open the doors and early investors exceeded our expectations very quickly,” Loewen said.

The McGregor and College location will be ACU’s 25th branch in Manitoba.

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