Kindred Credit Union

Location Canada
Key figures Impact story


Kindred Credit Union’s purpose is cooperative banking that connects values and faith with finances, inspiring peaceful, just, and prosperous communities.

With a belief that values and faith are central to life and financial decisions are not values neutral, Kindred’s core values of integrity, compassion, and stewardship are woven into everything they do. This is reflected in how they treat each other as staff, members, and in community.


The credit union got its start on March 21, 1964 when a group of local Mennonites had a radical vision to see mutual aid put into faithful practice – extending access to financial services across the community.

After numerous name changes, in 2016 it became Kindred Credit Union (Kindred). And, today Kindred lives out its founders’ original vision through innovative and impactful products, services, and programs. Kindred draws on its Anabaptist heritage to uniquely shape its vision and direction. Living out this vision today motivates Kindred to connect values and faith with finances inspiring peaceful, just, and prosperous communities.


Kindred employs more than 200 people who serve nearly 24,000 member-owners through its head office and eight full-service branches across southwestern Ontario.

Mutual aid is woven into the very fabric of Kindred. In addition to being a value shared with members, it permeates the purpose, strategies, and products and services of the organization.

Connecting values and faith with finances is distinctive in the crowded financial services market and the role of the board is particularly important when it comes to keeping values front and centre. Through a strong connection to the membership, those asked to serve represent members at the governance level. The board encourages Kindred to live out mutual aid in ways that are meaningful to individual members and the broader community.


Ian Thomas, Chief Executive Officer

Susan Taves, Board Chair

Market Focus, Products, and Services

Kindred Credit Union is based in the fast-growing international technology hub of Kitchener-Waterloo in the province of Ontario and has $1.3 billion in assets under management. Kindred offers a complete range of banking, borrowing, investing and financial planning products and services.

The credit union’s members are its owners, with each one having an equal voice in how the credit union is run. Ownership is at the very heart of membership and, because of this, each year Kindred shares a portion of its annual earnings with members. Members received $1,040,000 through Profit Shares in 2019.

Kindred has been recognized as a Living Wage Champion ensuring that all full-time and part-time employees, including student positions, are paid at least a living wage.

In 2016, Kindred became the first financial institution in Canada to validate all of its Guaranteed Investment Certificates (GICs) as socially responsible investments. Prior to the announcement, this approach to investing had only been associated with mutual funds and market investments.  Kindred maintains a unique program, Member Assistance Services, that directly connects member-to-member investments and loans through partnership plans and financial relief in times of crisis.

Kindred partners for positive change in the communities where its members and staff live and work through event and program sponsorships and funding agreements with local organizations.

In 2019, Kindred’s charitable giving amounted to $325,000. The Kindred Charitable Fund has distributed nearly $1.2 million in grants to over 155 churches and charities in its communities since 2001.



Key figures for Kindred Credit Union

* Figures in USD million
** Based on local currency
Total Assets1,054914914796702
Funds Under Management15713014311089
Total Assets and Funds Under Management1,2111,0441,057907791
Total Assets and FUM Growth (One Year)**10.74%7.34%8.85%11.07%7.00%
Loans (net)956830815710624
Loans to Total Assets90.70%90.8%89.1%89.1%88.9%
Loan Growth (One Year)**9.93%10.70%7.25%10.09%6.06%
Client Funding915791796688623
Client Funding to Total Assets86.90%86.6%87.1%86.3%88.7%
Client Funding Growth (One Year)**10.46%7.95%8.15%6.94%5.56%
Equity to Total Assets8.50%7.0%7.4%7.7%8.2%
Tier 1 Capital Ratio8.00%6.3%6.5%7.0%7.6%
Total Revenue24.824.118.418.319.9
Net Income4.
Return on Assets0.45%0.37%0.34%0.22%0.24%
Return on Equity5.72%5.15%4.50%2.71%2.89%
Cost to Income Ratio80.60%82.6%98.6%92.4%81.2%