Alberta Central Company Profile

Background

Overview

Alberta Central serves as the central banking facility, service bureau, and trade association for Alberta's credit unions. Established in 1967, it plays a pivotal role in supporting and advancing the collective interests of the credit union system in Alberta.

Mission and Vision

Mission: To connect credit unions to the products, services, knowledge, and partnerships they need to be successful and to grow.

Vision: In a vibrant and growing credit union system, Alberta Central is a hub of financial services innovation and a strategic system leader.

Industry Significance

As the central banking facility for Alberta's credit unions, Alberta Central plays a crucial role in providing innovative products and services, thought leadership, and advocacy on priority issues. Its efforts advance the collective voice of the credit union system, working to increase awareness of the credit union difference.

Key Strategic Focus

Core Objectives

Enhance the financial services ecosystem for credit unions in Alberta.

Provide strategic leadership and innovation within the credit union system.

Advocate for the interests of credit unions at both provincial and national levels.

Areas of Specialization

Financial services innovation.

Payments processing and infrastructure.

Research and analytics through The Intelligence Centre.

Key Technologies Utilized

IBM Payments-as-a-Service platform for modernized payments processing.

Advanced data analytics and research methodologies through The Intelligence Centre.

Primary Markets Targeted

Credit unions operating within Alberta.

Members of Alberta's credit unions.

Financials and Funding

Funding History

Alberta Central operates as a non-profit organization, primarily funded through service fees charged to credit unions for various services, including payments processing, research, and advocacy. Specific details regarding total funds raised or recent funding rounds are not publicly disclosed.

Recent Financial Performance

As of July 2025, Alberta Central's annual revenue was approximately $75 million, with around 201 employees across two continents.

Utilization of Capital

The capital is utilized to enhance services for credit unions, invest in technological advancements, support research initiatives, and advocate for the credit union system.

Pipeline Development

Key Initiatives

Prairie Payments Joint Venture (PPJV): Alberta Central formalized the PPJV to deliver an efficient, cost-effective, and modernized payments processing infrastructure for prairie credit unions.

Project Evolution: A joint prairie initiative exploring opportunities to optimize the credit union payments, technology, and support services ecosystem.

Target Conditions

Enhancing payments processing capabilities.

Improving technological infrastructure for credit unions.

Anticipated Milestones

Successful implementation of the PPJV's payments processing platform.

Completion of Project Evolution's optimization strategies.

Technological Platform and Innovation

Proprietary Technologies

IBM Payments-as-a-Service platform for payments processing.

Significant Scientific Methods

Advanced data analytics and research methodologies through The Intelligence Centre.

AI-Driven Capabilities

Utilization of AI and machine learning algorithms for data analysis and decision-making processes.

Leadership Team

Executive Team

Benjamin Chappell: President and CEO. Brings broad experience from various executive and governance roles, including serving as President and CEO of the Balancing Pool and Vice Chair on the boards of Prairie Payments Joint Venture and Celero Solutions.

Jason Anderson: Chief Financial and Governance Officer. With over 20 years of experience, including roles at Shell Canada Limited, he focuses on corporate governance and financial management.

Loree Gray: Chief Strategy and People Officer. Leads transformation initiatives and has over 30 years of experience in financial services, including leadership roles in retail banking and insurance.

Kate Hill: Chief Risk and Compliance Officer. Responsible for regulatory compliance, risk management, and government relations, with experience in federal politics and financial institutions.

Board of Directors

Randy Allarie: Chair. Chief Risk Officer at Servus Credit Union, with 25 years of experience in banking and finance.

Kellen Snelgrove: Vice Chair. Manager at R. Snelgrove & Sons construction, advocating for smaller and rural-based credit unions.

Dan Hautzinger: Secretary. Chief Operating Officer with Vision Credit Union, focusing on the future of the credit union system in Alberta.

Michelle Belland: Director. Leads various teams at connectFirst and Servus Credit Union Ltd., with a background in telecommunications and media.

Robert Bhatia: Director. Professional executive coach and consultant, with experience as a Deputy Minister in the Alberta government.

Doug Bristow: Director. Senior Partner at David Alpin Group, with experience in financial services and governance.

Ian Burns: Director. President and CEO of connectFirst and Servus Credit Union Ltd., with over 20 years of experience in finance and business development.

Shawn Eltom: Director. Owner of the IGA grocery store in Banff, with 34 years of experience in retail grocery operations.

Darlene Harris: Director. Former Senior Manager at Shell Canada Limited, with extensive experience in mergers and acquisitions.

Mark Wiltzen: Director. Former Senior Vice President and CFO of EPCOR Utilities Inc., with expertise in finance and governance.

Market Overview and Competitor Profile

Market Insights and Dynamics

Alberta Central operates within the financial services industry, focusing on supporting credit unions in Alberta. The market is characterized by a strong emphasis on community-focused financial institutions and a growing demand for innovative financial services.

Competitor Analysis

Key competitors include other financial institutions and service providers that offer similar services to credit unions in Alberta. However, Alberta Central's unique position as a central banking facility and trade association for credit unions differentiates it in the market.

Strategic Collaborations and Partnerships

Alberta Central has established significant collaborations, such as the Prairie Payments Joint Venture (PPJV), to enhance payments processing capabilities for credit unions. Additionally, it has partnerships with organizations like Celero Solutions and the Canadian Credit Union Association (CCUA) to strengthen its service offerings.

Operational Insights

Alberta Central's strategic focus on innovation, customer-centricity, and diversification positions it to effectively compete in the market. Its role as a system services provider and payments connector allows it to offer comprehensive solutions to credit unions, enhancing their operational efficiency and service delivery.

Strategic Opportunities and Future Directions

Alberta Central's strategic roadmap includes further enhancing its role as a system services provider, expanding its payments processing capabilities, and fostering innovation within the credit union system. Opportunities for expansion include exploring new partnerships, diversifying service offerings, and advocating for regulatory frameworks that support the growth and success of credit unions in Alberta.