4
SMALL BUSINESS MONTH - SUPPLEMENT TO THE FREE PRESS - SATURDAY, OCTOBER 21, 2023
Supplied by Assiniboine Credit Union
Mohammed and his team at ACU specialize in helping small businesses reach their full potential through education and sound advice.
Assiniboine Credit Union: Helping to Drive Small Business Success
It has often been said that small business is the engine that runs the economy.
I t’s a philosophy embraced by the staff of Assiniboine Credit Union (ACU), who regularly go the extra mile to help members navigate their way along the often- challenging road to success. “We recognize that the small business sector is critically important to the financial health of our local economy,” says Nigel Mohammed, ACU’s Director, Community Financial Centre & Small Business Distribution. “Our approach is really about providing access to flexible financing options, both to support start-ups and growth for small business, but also to support non-profit organizations so they can fulfil their mandates in our community.” Mohammed oversees a team of five commercial lenders at the Winnipeg-based head office. Each lender not only dispenses financial expertise, but also has the mandate to offer advice and direction about other aspects of business development that ultimately provide a value-added experience for their clients. “Our view to providing financing goes beyond the transaction. We take a long-term view,” he says. “We look at the journey that a business might be on, whether it’s a start-up or growth- based, and try to provide advice in a way that the member is connected to the right resource.” That advice isn’t the same for every client, says Mohammed. “It’s not just about financing. Sometimes, it’s about making sure they have access to market research to create a business plan or conduct a feasibility study.” ACU staff can then suggest referrals to an appropriate resource in its network of community partners, such as when a member needs a lawyer with lease contract expertise. Or they might benefit from the services of a second-tier lender. The heart of ACU’s commercial lending philosophy reflects the guiding principles of the credit union itself: a commitment to its members, employers, and the well-being of the communities they serve. As an organization, ACU aims to improve the lives of people, better the planet and in so doing, create prosperity for all. ACU is clearly doing well by doing good. It’s the first and only financial institution in Manitoba to earn B-Corp certification, an international recognition bestowed on companies that meet the highest standard of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose. It has further earned the distinction of being ranked in the Top 20 on the list of 7,500 B-Corp certified companies around the world.
“We recognize that part of a healthy local economy is a thriving business community,” says Mohammed. “So, if we’re committed to being a part of building the local community and its economy, then we also have to be able to help those who may be on the fringes to access capital and give them advice so they can set themselves up for success.” Through relationship-building and a long-term view, ACU strives to support the small business sector in ways that other financial institutions may not, opting to emphasize relationship- building and a long-term view, not just a quick- turnaround, transactional approach of other traditional lenders chasing efficiency targets. They strive to help business owners make informed choices about their business development plans, in addition to making
Our view to pro- viding financing goes beyond the
transaction. We take a long-term view. We look at the journey that a business might be on, whether it’s a start-up or growth- based, and try to provide advice in a way that the member is connected to the right resource.
Powered by FlippingBook