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FNBC Launches its Indigenous Trust Services Business, FNB Trust

by pmnationtalk on October 6, 2020397 Views

For Immediate Release

October 1, 2020

FNBC Launches its Indigenous Trust Services Business, FNB Trust

Saskatoon, SK – First Nations Bank of Canada (‘FNBC’) today officially launched its wholly-owned Indigenous Trust Services company, FNB Trust.

For 25 years, First Nations Bank of Canada has proudly served our customers’ banking needs. We’ve supported growing Indigenous businesses and communities looking to the future. Many of these Indigenous communities also need support for the set-up and administration of community trusts established from settlements and economic developments.

“Now we are bringing our community-focus, care and attention to Indigenous Trust Services through our subsidiary, FNB Trust. From trust set up to administration – we are committed to supporting Indigenous prosperity, leadership and well-being” said Keith Martell, President and Chief Executive Officer of FNBC and FNB Trust.

Based on our experience and strong relationships with Indigenous communities, FNBC has identified a growing demand for trustee and trust administration and support services. Driven by an increase in land claim settlements, specific claims, resource revenue sharing and economic development, the demand for leading-edge, highly ethical and transparent trustee services is clear.

Answering this market need, FNBC has launched FNB Trust. The primary objective of FNB Trust is to act in the best interests of Indigenous trusts and their beneficiaries. We are committed to delivering the services our clients need in the manner in which they need them.

With over 50+ years of combined trustee and trust service experience, our FNB Trust team is there for our clients from beginning to end of the trust process.

About First Nations Bank of Canada

FNBC is a privately-held Canadian Chartered bank over 80% owned by Indigenous shareholders across Canada. FNBC’s Indigenous shareholders include groups from Nunavut, Northwest Territories, Yukon, Saskatchewan, Manitoba, Alberta and Quebec.

FNB Trust is a federally regulated trust company and a wholly owned subsidiary of FNBC.

FNBC and FNB Trust have over 70% Indigenous employees, over 90% of FNBC commercial loan portfolio is to Indigenous governments, businesses and organizations and 100% of FNB Trust clients are Indigenous. FNBC and FNB Trust combined invest over $1.6 million every year for property and services from the Indigenous communities they serve.

As a majority Indigenous-owned and controlled entity with over 14,000 customer accounts, FNBC focuses on serving the financial services needs of Indigenous customers across the country through a network of full-service branches, community banking centres and electronic banking channels. With almost $1 billion in assets and a network of 9 full-service branches and 9 community banking centers, we continue to develop innovative products and services to meet the needs of our core Indigenous markets.

FNBC is a member of the Canada Deposit Insurance Corporation, the Canadian Payments Association, and is an approved mortgage lender with Canada Mortgage and Housing Corporation, as well as the First Nations Market Housing Fund.

For further information, contact:

Keith Martell, President and CEO

Phone: (306) 955-6734

Email: [email protected]

Suzanne Trottier, Vice-President, Indigenous Trust Services Phone: (306) 385-7712

Email: [email protected]

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