The Niverville Credit Union (NCU) is expanding its reach, opening its first branch in Steinbach. The new branch will be located in the Penfeld Professional Centre at 150 Penfeld Drive directly behind the Smith, Neufeld, Jodoin Law Office on Highway 12, on the site of the old Birchwood Funeral Chapel.
“Niverville Credit Union has decided to take this step in order to better serve our growing member base in the Steinbach area and to participate in [its] future growth,” says Ken Rempel, CEO of NCU.
Rempel says that Steinbach’s trading area serves a population of 50,000 people and the city of Steinbach is experiencing exponential growth similar to that of Niverville. The Penfeld Professional Centre was chosen, in part, because the centre is currently home to a service sector well-suited to NCU’s financial services, including real estate, legal, and insurance firms.
“Upon completion of the Steinbach branch, Niverville Credit Union will have locations in the three main growth areas of southeastern Manitoba, those being Niverville, Steinbach, and the communities of Landmark and Lorette, which are served by our Landmark branch,” says Rempel.
The NCU was first established in 1949 as the Niverville Credit Union Society Ltd. and had 23 members subscribed for a total of $150.75 in shares. At its inception, the maximum any member was allowed to loan was $100. Since its beginnings in an office in a B/A (gas) station on Main Street, NCU has relocated to its own building and undergone several expansions. In its 65 years of business, NCU has grown from 23 members to 7,500. Total shares have grown from $150 to $250 million.
According to Rempel, the process of opening NCU’s new Steinbach branch includes finalizing the layout and blueprints, finalizing technology investments, and staffing, all of which are well underway. Approximately 2,800 square feet of space in the Penfeld Professional Centre will be dedicated to NCU.
The opening of the Steinbach branch is expected to take place sometime this winter.
