PenFinancial Credit Union opens flagship branch

PenFinancial Credit Union’s new and state-of-the-art flagship branch officially opened in St. Catharines Thursday July 5/2018. This 5,000-square foot facility serves as the new main St. Catharines site for the Niagara-based credit union.

“While this opening, PenFinancial is further expanding in St. Catharines and across Niagara” said PenFinancial board chair Reg Sonnenberg, who spoke at the event, along with CEO Ken Janzen.

PenFinancial opened the new branch by unveiling a new dedication to St. Catharines and Niagara through its newly unveiled ‘Truly Local Commitment’ (TLC) philosophy and explained how it’s being put into action across the organization, the city and the region. At its heart, the TLC philosophy fully brings to life PenFinancial’s values-based cooperative commitment to transforming how financial services are done, while improving the lives of its members and strengthening its community.

“Contributing 10 percent of PenFinancial’s pre-tax profit is just the start,” said Janzen. “Members will feel and see our truly local commitment across our entire organization, from the products we develop, to prioritizing the use of local supplies, to asking our members their priorities when making our community support decisions.”

In that TLC spirit, PenFinancial was recognized at the opening for being the first larger-sized private sector employer in the region to be certified as a Living Wage Employer, Champion Level, and officially part of the Ontario Living Wage Network. Employees and any contractors working with PenFinancial will be paid a current living wage rate of at least $17.57/ hour, based on a Niagara cost-of-living calculation.

A presentation celebrating PenFinancial’s Living Wage achievement was made by Glen Walker, chair of the Niagara Poverty Reduction Network, which facilitates the Living Wage certification process in the region. Walker is also executive director of Positive Living Niagara.

St. Catharines Mayor Walter Sendzik, who opened up an account at the new branch and signed the New Member Pledge supporting the philosophy of the Truly Local Commitment, also addressed the gathering.

“PenFinancial’s new Truly Local Commitment is the kind of leadership that builds a compassionate city. Local buying, local spending, local growth and compassion,” Mayor Sendzik said. “I am delighted to open this account and sign their pledge.”

New members who open an account at the branch were also invited to ‘spin the wheel,’ with PenFinancial making a donation on their behalf to a local charity or special cause featured on the wheel.

The facility was constructed using local contractors and suppliers, in keeping with the TLC philosophy. St. Catharines-based Quartek Group was the project architect, engineer and interior designer. The building design and materials are inspired by the surrounding Niagara farmland, from which PenFinancial’s membership first grew. The site’s Community Room, which offers free meeting space to local service, community and non-profit groups, was also showcased.

In addition to retail banking services, the new location will:

  • provide members with access to Wealth Management and Commercial and Agricultural banking specialists
  • extended hours
  • designated member parking
  • enhanced service offerings
  • a drive-thru ATM
  • private rooms where PenFinancial members can meet with credit union advisors and

The building also serves as a new home for PenFinancial’s Lake Street branch members in St. Catharines.

Source – Armstrong Strategy Group press release



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