Assiniboine Credit Union does things differently

When Assiniboine Credit Union (ACU) opened its McGregor branch in Winnipeg’s North End in 2012, it was after other mainstream financial institutions had largely abandoned the neighbourhood, leaving cheque-cashing and payday loan businesses as the only options for many.

That was a few years before Tamir Bourlas joined the credit union. But Bourlas, now the McGregor branch manager, says he’s proud of the branch’s role in the community and feels grateful for the opportunity to “steward its legacy.”

“Our community here in the North End of Winnipeg faces lots of barriers, including bruised credit and the like, and so we work pretty hard to provide that education to make sure members don’t slip further and support them where others won’t,” he says.

ACU’s commitment to the North End community exemplifies why Bourlas first joined the organization. After graduating with a degree in economics, he applied for several jobs, but the credit union was his first choice because of its three core values of supporting people, the planet and prosperity.

“I felt ACU’s values aligned closely with my own, and I appreciate being able to collect a paycheque knowing that the work I am putting in is doing good in the community," he says.

Those values were also the biggest draw for Nigel Mohammed, vice-president of the credit union’s Community Financial Centre (CFC) and small business distribution. Mohammed began his career at a major bank in the mid-1980s but left six years later to pursue community development work in the eastern Caribbean and later discovered the impact credit unions have on local communities and economies. After several years in the Caribbean non-profit and credit union sectors, Mohammed and his wife returned to Winnipeg, where he set his sights on a job at ACU.

“I didn’t want to work for another credit union — this was the one,” he says. “I was looking at the initiatives ACU was putting out, the way they were thinking about doing banking differently, assessing how and who they gave loans to, and how they reported out their measures. They had evidence of doing what they said and making a difference in the community.”

Mohammed, who’s been with ACU for 23 years, now heads up a unique division. The Community Financial Centre provides specialized support to small businesses, start-ups, non-profits, co-ops and social enterprises, and is the only one of its kind in the province. In addition to applying different metrics for assessing the strength and risk level of these types of organizations, the CFC considers the social impact in loan decisions — such as whether a local business plans to hire from a low-income neighbourhood, or a co-op is planning to build affordable housing units.

“I think there’s a real commitment to demonstrate our values in action,” he says. “There’s an intention and investment required to maintain a centre like this. But it isn’t just a financial decision, it’s a commitment to social impact and shared value with our members and the community.”

Mohammed says he also values ACU’s work around reconciliation, citing ACU’s employee-led Indigenous Leadership Circle, and hiring employees that reflect the communities it serves. He notes the credit union’s commitment to people includes its own employees, through professional development and career growth opportunities.

He was a beneficiary of that professional development support. After starting at ACU at one of the branches, Mohammed was given opportunities to advance through the institution. He also played a key role in launching the CFC.

“I’ve been part of shaping and forming this unique department, and having a voice in establishing it meant a lot,” he says.

This article appeared in the magazine announcing the winners of this year's Manitoba's Top Employers competition, published March 11, 2025 in the Winnipeg Free Press. This article was prepared with the financial support of the employer, who did not write or review the content.