Question 1

What is OMISTA Credit Union?

Accepted Answer

OMISTA Credit Union is a member-owned financial cooperative serving New Brunswick, Canada. Operating under the philosophy of providing "A Better Way To Bank," OMISTA is designed for New Brunswickers who want full-service, holistic banking and who care about making their communities better. As a Certified B Corporation since February 2016, OMISTA distinguishes itself by operating with the best interests of customers and communities in mind, believing that business can be a force for good. With approximately 96 employees and $21 million in revenue, the credit union is locally controlled by its customer-owners.

Question 2

When was OMISTA Credit Union founded?

Accepted Answer

[Information not publicly available about the specific founding date of OMISTA Credit Union]. The credit union operates under New Brunswick's modernized Credit Unions Act that came into effect on January 1, 2020, which restructured the regulatory framework for credit unions in the province. OMISTA achieved Certified B Corporation status in February 2016, demonstrating its long-standing commitment to social and environmental objectives.

Question 3

Where is OMISTA Credit Union headquartered?

Accepted Answer

OMISTA Credit Union is headquartered at 1192 Mountain Road in Moncton, New Brunswick, Canada. The credit union can be reached at (506) 858-7206. Additional offices are located in Fredericton at 444 Aberdeen Street, serving multiple regions across New Brunswick.

Question 4

Where does OMISTA Credit Union operate?

Accepted Answer

OMISTA Credit Union operates in New Brunswick, Canada, with presence in the Fredericton and Moncton districts. According to the Financial and Consumer Services Commission of New Brunswick, OMISTA operates in Region 1 (District of Fredericton) and Region 3 (District of Moncton), providing services to communities throughout these areas of the province.

Question 5

What services does OMISTA Credit Union offer?

Accepted Answer

OMISTA Credit Union provides comprehensive financial services designed for New Brunswickers, including full-service banking, deposit accounts, lending products, investment services, and holistic financial solutions. The credit union offers products and services that keep more money in the pockets of customers while helping communities prosper.

As a member of Atlantic Central, OMISTA provides a complete range of financial services that meet member needs while operating on a cooperative basis. The credit union emphasizes putting people before profits, with profits serving a higher purpose of benefiting the people they serve.

Question 6

What makes OMISTA Credit Union unique?

Accepted Answer

OMISTA Credit Union distinguishes itself as a Certified B Corporation, earning an overall B Impact Score of 82.8, significantly higher than the median score of 50.9 for ordinary businesses. The credit union achieved exceptional scores of 100.4 in 2018 and 91.2 in 2016, demonstrating sustained commitment to social and environmental impact.

Unlike shareholder-owned banks, OMISTA is owned by its customers, with each credit union member being an owner. The institution is committed to enhancing communities through economic, social, and environmental objectives, partnering for public policy solutions, and ensuring profits benefit customers rather than external shareholders. OMISTA's Impact Business Model is intentionally designed to create positive outcomes for workers, community, environment, and customers.

Question 7

What type of financial institution is OMISTA Credit Union?

Accepted Answer

OMISTA Credit Union is a provincially-regulated credit union in New Brunswick, operating under the Credit Unions Act and supervised by the Financial and Consumer Services Commission (FCNB). The credit union is a member of Atlantic Central and receives deposit protection through the New Brunswick Credit Union Deposit Insurance Corporation, which provides deposit insurance up to $250,000 per eligible deposit. As a member-owned financial cooperative, OMISTA operates independently while being locally controlled by its customers, following cooperative principles to improve the wealth of the people and communities it serves.

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