Caisse Populaire Maillardville Credit Union

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Caisse Populaire Maillardville Credit Union

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Dates of existence

1946-2005

History

Caisse Populaire Maillardville was a francophone credit union that grew to serve 9,500 members in Maillardville, Port Coquitlam, Port Moody and Chilliwack. It was founded in 1946 and originally called La Caisse Populaire Notre Dame de Lourdes Credit Union. It’s guiding vision was to “unite the French community through financial solidarity." As a closed bond credit union, it required that its members be French-Canadian Catholics and served solely the French-speaking community of Maillardville. In its very beginnings, the credit union was run out of the home of Alma and Arthur Fontaine at 405 Marmont Street.

As the community grew and its need for banking services expanded, a small stucco building was erected for the credit union’s use on the corner of Brunette Avenue and Nelson Street. In 1950, the name was officially changed to the Caisse Populaire de Maillardville Credit Union to gain support not only from Our Lady of Lourdes parishioners, but also those of the newly-opened Our Lady of Fatima church. In 1951, the credit union instituted a special savings program, or “school program” for children attending Maillardville Catholic schools.
In order to remain keep pace with larger financial institutions, in 1956 the credit union opened to non-Catholic francophone members. In 1957, their small building was moved to 1013 Brunette Avenue, and over the next forty years, underwent many expansions and alterations. To continue to offer competitive financial services, in 1968 a resolution was put forward and passed to open membership to English-speakers.

In 1989, the credit union decided to try and garner a greater market share for itself, and decided to change their name to one that would be meaningful in English and French. The credit union offered a thousand dollars to any individual who could come up with a suitable bilingual name. They received over six hundred submissions in the contest and the board selected "Village Credit Union." Village Credit Union expanded to other locations in the Lower Mainland during the 1990s, but due to loan delinquency and losses, Village Credit Union dissolved and merged with Vancity Credit Union in June of 2005.

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CPOP-2018-7

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