Aldergrove Credit Union was formed in 1954 when members of the Otter Farmers' Institute (today Otter Co-Op) realized that by pooling members' resources and time, a financial co-op could be formed to assist members of the Institute. Thus, the Otter Farmers' Institute Credit Union came into being.

For the first decade, the new Credit Union operated out of the original Otter Co-op building on 248th Street in Langley, moving in 1968 down the street. A period of steady growth in membership and assets had begun, one which would see it expand beyond its roots in the Otter Farmers' Institute and into the larger community.

By 1978, the name became Aldergrove Credit Union and a second branch on 272nd Street in Aldergrove replaced rented premises in that community in 1980. As Murrayville became one of the fastest growing areas in Langley, it was the ideal location for our third branch - opened on 48th Avenue in 1994.

As we continued to grow, so did Matsqui Credit Union, an organization whose history predates that of Aldergrove Credit Union by 10 years, and whose roots are similarly deep in the farming community in the Valley. In 1994, by then operating out of their present office on Riverside Street in Matsqui, they celebrated 50 years of service to their members.

In the late 1990s, the two successful organizations with common goals and long histories in the Valley began merger talks. As the century turned, Aldergrove Credit Union and Matsqui Credit Union became one entity.

As our members continuted to grow, two branches were opened within the Abbotsford area. In 2001 the fifth branch was opened at  Mt.Lehman Centre and in 2013 the sixth and latest branch was opened at Gladys and Essendene. We also built a brand new branch and relocated our Otter Community Branch.

As membership nears 20 000, we can point proudly not only to growth in members, assets, and services, but also to a long history of being actively involved in the communities in which our branches are located. This participation includes helping with local and charitable fund drives, taking part in local celebrations, supporting local sports teams, and providing bursaries for students from our area to continue their education.

We welcome comments and suggestions from our members on ways in which we can add to or improve the products and services we offer.

Gus K. Hartl


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2019 Annual Report