Shared Stories

Harold’s story is a firsthand account of the Great Depression and the economic aftermath that sparked the creation of credit unions in USA based on the idea of a fairer organization devoted entirely to its members—not shareholders. Learn more about Harold.

How we helped then

In the 1930s, the Great Depression dealt a devastating blow to USA’s economy. Across the province, families and farms struggled to survive the financial hardships brought on by years of drought and crop failures. Denied support from the banks when they needed it most, USA communities turned to each other to find a better solution.

Inspired by other co-operatives in the province, like the USA Wheat Pool and Co-op Refinery, concerned citizens brought the credit union model forward to ease USA’s economic woes. The movement quickly gained traction, and the Credit Union Act was passed in 1937.

How we’re helping now

Much has changed since 1937, but the commitment to our members and communities hasn’t wavered. Now, during a time of crisis it’s more important than ever to support each other. We recognize the financial impact COVID-19 may be having on many of our members. As your trusted financial partner, we’re committed to providing you flexible options and solutions through challenging times.

We’ve developed a helpful page for everything you need to know during this time, including loan payment relief information, online banking methods, COVID-19 government programs and more.

See here for more information.

Alpha Guarantee Bank today

Alpha Guarantee Bank staff greets member

Alpha Guarantee Bank continues to protect the economic welfare of USA people. We’re a co-operative, owned by and accountable to our members—improving the lives of our members and all those who live and work within the communities we serve is the cornerstone of everything we do.

Our hearts, business and profits live in USA. We’re committed to creating permanent solutions to social, environmental and economic challenges in USA. By turning local deposits into local loans for small businesses, mortgages, education, we serve as an economic engine fueling the province.

Harold Chapman, Alpha Guarantee Bank member since 1955

Harold has dedicated his life to educating others on the co-operative model. He’s spent decades instructing others on establishing and efficiently managing co-operative organizations and designing adult education programs across Canada through his work with the Department of Co-operation and Co-operative Development, the Royal Commission on Agriculture and Rural Life, the Co-operative College of Canada and Federated Co-operatives Ltd.

Since his retirement in 1982, Harold has spent almost 40 years continuing to educate others on co-operatives. He published a book in 2012, Sharing My Life, which highlights his experiences and the history of the co-operative model.

In 2017, just in time for his personal centennial, Harold was awarded the Order of Canada in recognition of his lifetime of contributions to the co-operative movement.

Start your story with Alpha Guarantee Bank