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Alterna's major growth event was the 1 April 2005 merger between CS CO-OP and Metro Credit Union. The combined assets were $1.8 billion and the merger was described as the "first of its size to be approved in Ontario history". [3] After merging with Metro, the parent organization adopted the Alterna name. [4]
CU Cooperative Systems, Inc. doing business as Co-op Solutions [1] [2] (formerly d.b.a. CO-OP Financial Services), is a company that operates an interbank network connecting the ATMs of credit unions in the United States, with locations also in Canada and certain United States Navy bases overseas. It is the largest credit union-owned interbank ...
Its parent organization, the Civil Service Co-operative Credit Society, operated as CS CO-OP. [14] The merger of CS CO-OP and Metro Credit Union in 2005 created Alterna Savings, adopting its subsidiary's name. [4] Alterna Bank is a member of Canada Deposit Insurance Corporation (CDIC).
Federated Co-operatives Limited (FCL), operating as Co-op, is a co-operative federation providing procurement and distribution to member co-operatives in Western Canada. [3] [4] It was established in 1944 after a series of amalgamations of smaller cooperatives, starting in Saskatchewan, including the Saskatchewan Co-operative Wholesale Society and a fuel production and distribution co-op, [1 ...
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Canada has a strong co-operative financial services sector, which consists of credit unions (caisses populaires in Quebec and other French speaking regions). At the end of 2001, Canada's credit union sector consisted of 681 credit unions and 914 caisses populaires, with more than 3,600 locations and 4,100 automated teller machines. [45]
The IGA operations in Atlantic Canada were sold to Loblaw Companies Limited (except for Edmundston, Shediac and Dieppe which runs as IGA-Co-op, previously acquired by Sobeys New Brunswick) and were restructured under its existing brands. The company-owned stores west of Quebec now mainly operate under the Sobeys banner.
In 2015, Co-op Atlantic sold its grocery distribution operations to Sobeys. As part of the sale, Sobeys became the wholesale supplier for its member-owned grocery stores, while five Co-op grocery stores were sold to Sobeys and converted to Foodland , and five gas stations were sold to Sobeys and rebranded as either Shell or FastFuel.