Alterna Savings: Empowering people, changing lives

Toronto, ON – April 20, 2011  Alterna Savings is pleased to announce the release of their “Showcasing our Success” Micro-Finance video, clearly demonstrating how their Micro-Finance program empowers local small business owners and contributes to positive life changes.

Alterna has been a leader in the finance industry by supporting small and budding businesses through micro-finance for over a decade. The Community Micro-Loan Program provides small loans for those businesspeople and entrepreneurs that larger financial institutions would not. The new video features some of the highlights and first-hand accounts of success as a result of this innovative program.

Securing credit and accessing banking services is a major roadblock for new and marginalized Canadians. Alterna’s 2010 Carleton Centre for Community Innovation study revealed that in 60% of the cases, Alterna was the only source willing to finance them. As a result, Alterna has granted over $1.5 million in loans to entrepreneurs, and changed the lives of more than 340 people.

John Lahey, President and CEO of Alterna Savings speaks to the success of the Community Micro-Loan Program: “95% of the businesses we’ve helped start are still in operation today. These small organizations, by their own admission, have created hundreds of jobs in the City of Toronto.”

To see the video, or to find out more about Alterna Savings’ Micro-Finance and Community Micro-Loan Program, visit our community page.

About Alterna

Alterna Savings is a full-service, member-focused, and community-based credit union that operates in the National Capital Region and the Greater Toronto Area. Guided by the values of people first, excellence, and integrity, employees Alterna Savings offers a wide range of financial products and services to nearly 120,000 members through 22 branches, ABMs, online banking, and more. Learn about the Alterna Savings difference at alterna.ca.

Media Contact:
Pamela Stewart
VP and Chief Marketing Officer
pamela.stewart@alterna.ca 
416.252.5625 ext 7703