JSMedia – The Caisse populaire acadienne llte is a Francophone credit union in New Brunswick, Canada. The organization has a predominantly Acadian membership and its administrative headquarters is in Caraquet on the Acadian Peninsula. The financial institution was founded in 1947 and has been headquartered there since then. It has a branch office in downtown Saint John, which has over 900 employees.
On June 28, 2012, the caisse was merged with the UNI Financial Cooperation, a French-language credit union. This merger made it the first federal credit union in Canada, and a key step in building Canada’s strong financial sector.
The Caisses populaire acadienne lté was formed on December 3, 1946, after amalgamating fifteen local caisses and two related organizations. The move facilitated the creation of one unified bank that better served the communities in the province.
Caisse populaire acadienne lle Mortgage Credit Union
Prior to the merger, the caisses were mostly traditional, with very few companies in the Acadian region. English speakers dominated the finance sector and only a few incorporated farmers’ banks existed. In Prince Edward Island, the first farmers’ bank was founded in 1859, followed by several cooperatives. In Cheticamp, Nova Scotia, a fishers’ cooperative was founded in 1915, triggering hostility from certain merchants. In Richibouctou, the first Francophone caisse populaire was founded in 1917, inspired by the Quebec-based Caisse Desjardins. The venture, however, failed.
The Caisse populaire acadienne rebranded their corporate image in 2005. In addition to purchasing the AVie financial security advisory services, the corporation purchased a collection of 10 works by Michel Duguay. The AVie and Acadia General Insurance also have their own insurance subsidiaries. Acadienne lte’s trademarks are UNI, Acadia, and UNI.
The Caisse populaire acadienne lle was created as an alternative to the Canadian banking system. The first one was established in Antigonish. In 1945, the organization had seven branches and had 7,000 members. Its most important figure was Livain Chisson. It is still active today. The other five branched institutions of the UCNB are the UCNB and UNI Insurance.
The Caisse populaire lte is the first of its kind in Canada. It was founded by agronomists in the Acadian community to provide affordable loans for farming and other common needs. This cooperative was also successful because of its minority status among Acadians, which helped them save money. They were able to do so because they were organized and financed by a few people, and because they were able to provide them with affordable loans.