Credit unions have a long history of helping communities prosper by providing homeowners, small business owners, farmers, and fishers with access to vital capital. OMISTA has been there for the good days and helped weather the storm when needed in unpredictable industries like lobster fishing. Working for yourself can feel risky at times, having someone in your corner can mean a lot.
Volunteering is a natural piece of who we are as Atlantic Canadians. The importance of volunteering and being committed to where we live are values held by credit unions as well. Through the Each One Teach One initiative, volunteer OMISTA employees have met and worked with youth and adults from numerous organizations to increase their financial knowledge, skills and confidence. The workshops are delivered to members and non-members in their communities to empower them to make the right financial decisions for themselves and their families.
One of the biggest differences about doing your banking with a credit union is that you are a member of a credit union, not just a customer. But what does membership mean anyway? And why should you care?
1. Anyone can become an OMISTA Credit Union member. All you have to do is open an account and deposit $5.
2. Credit union members are also owners. Credit unions are cooperatives. That means rather than being owned by shareholders—who may or may not do business with the credit union—they’re owned by the customers who live here and do their banking locally every day - the members.
3. Credit unions in NB have higher deposit protection than the banks. Deposit insurance offered by the New Brunswick Credit Union Deposit Insurance Corporation covers up to $250,000 in eligible deposit accounts, while the same accounts in banks and trust companies are only covered up to $100,000
4. What’s in your best interest is in our best interest. All credit unions share a common bond–to improve the wealth of the people and communities they serve. Members always come first. That means credit unions are accountable to their customers, they have a say in the operations, and members’ money stays local to enhance economic strength and support communities.
Curious about the credit union difference and benefits? Get in touch with us today.
OMISTA in Albert County
A second Town Hall meeting is planned for residents of the Alma, Riverside-Albert, and Hillsborough areas on Tues., Jan. 29, 6:30-8:30pm at the Hillsborough Kiwanis Center. Everyone is welcome. This will be an opportunity to learn more about what services OMISTA can offer the area, as well as gauge the level of much-needed, additional sup-port from residents. OMISTA's temporary pop-up at the Hillsborough Visitor Information Centre will re-open Thurs., Jan. 31.
“To deliver on our vision of a mutually beneficial partnership to provide on-going banking services to these communities, we need residents and businesses to show their desire to use our services,” says CEO Tammy Christopher. “To date we have had a few residents bring their business to us, but a bigger demand is needed to support our ongoing work.”
Trisha Leaver, OMISTA's Senior Marketing Manager, has a passion for sharing the credit union difference and empowering New Brunswickers to choose a better way to bank.