ATB Financial - Alberta Treasury Branches
Alberta Treasury Branches
is the crown corporation of the Canadian Province of Alberta. This financial institution services only the province of Alberta. It has a total of 133 agencies and 164 branches in the whole province. The institution employs a number of 5000 plus individuals who serve the 244 communities in the province. Its headquarters are located in Edmonton, Alberta. It is considered the largest financial institution in the province, with assets totaling over 26.5 billion
. Unlike other
, the bank is entirely controlled by the Government of Alberta.
The bank was created in 1938 under the leadership of William Aberhart, the 7th Premier of Alberta. Before the establishment of the bank, there were attempts by the federal government to thwart the plans to have all banks of Alberta placed under the control of the provincial government. However, ATB was successfully established in Rocky Mountain House on September 29 of 1938. In 1980, the bank became the subject of a scandal when the Germazian Brothers and Peter Pocklington defaulted on
that were granted due to political reasons. The entity was later reformed in the 1990's to clear the bank's stained reputation and transform it into a booming financial institution. It was in 1997 when the bank became the crown corporation of Alberta.
The Alberta Treasury Branches are operated under the Board of Directors duly appointed by the Lieutenant Governor in Council. The body is now under the leadership of the banker Dave Mowat. He is the President and CEO of the bank and is supported by a senior management team. All employees are dedicated to the strategic direction and vision of the financial institution.
Memberships and Networks
ATB is a member of the Interac Association, Canadian Payments Association, and MasterCard Canada. It also participates in the following financial networks: Interac, NYCE, Alberta Regional Network and Cirrus.
As of March 31, 2010, the bank has a net income of $ 127.5 million, assets of $25.4 billion, deposits totaling $22.6 billion, loans amounting to $24.2 billion, and equity equivalent at $1.8 billion.
Products and Services
ATB remains the number one financial service provider in the province of Alberta. As the financial center for Alberta, it provides a variety of services that can be divided into three categories:
, corporate financial services, and personal and business financial services.
The services can also be further divided into more specific services. Personal services include personal loans,
, MasterCard products,
. Business services include merchant services, business financing, business accounts, business MasterCard, and Payroll services. Agri-industry services are offered as well as corporate financial services. As for investor services, these include a complete range of products geared towards investing such as
and educational plans, as well as other securities and investment solutions.
As the main financial institution serving Alberta, and the sole financial institution in 118 communities, it has committed itself to building 133 agencies and 159 branches all over the province. They run their own customer service center in Calgary and provide various ABM services and Internet banking services.
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