Realizing the need for Nunavummiut and Nunavut businesses to have more choices for their financing, we entered into a strategic partnership with First Nations Bank of Canada (FNBC). Our investment in FNBC resulted in Atuqtuarvik Corporation becoming one of the Bank’s largest shareholders on behalf of the beneficiaries of Nunavut.
Through this partnership, FNBC has opened a full-service branch in Iqaluit and three community banking centres in Baker Lake, Pond Inlet and Kugluktuk. In addition, FNBC has increased its commercial lending activities in the Territory.
We continue to be innovative by exploring and engaging in other partnerships and joint ventures to benefit our clients and enhance the Nunavut economy overall.