Who is SPARK The Energy Credit Union

Our History

SPARK The Energy Credit Union was originally established as Shell Employees' Credit Union in response to a tight credit market in the 1950s. During this time, banks were unwilling to lend to customer without collateral, which left many individuals no choice but to turn to finance companies who charged exhorbitant rates for unsecured loans.

Because of this, several Shell employees banded together to form the Shell Employees' Credit Union (SECU). Their ethos was to provide services to the community of Shell employees, during a time when no one else was willing to help out. Over the years, SECU flourished to become the full-service financial institution that it is today, offering deposit, lending, and wealth management services. With almost 6000 members worldwide, offices in Calgary and Fort Saskatchewan, and over $260 millon in assets - the credit union has truly come a long way.

In 2018, we changed our name to SPARK The Energy Credit Union to allow all energy industry people to benefit from the competitive products and award-winning service that we have to offer.  Despite all the changes we've gone through in our over 60 years of existence - one thing remains the same: we exist to help our members thrive in good times, and be resilient in challenging times.

Vision

To be a trusted financial partner to our members. We work alongside them to ensure they achieve the happiness and prosperity they deserve for the work they do.

Mission

To provide members of the Alberta energy industry with the financial products, service, and understanding they deserve to help them thrive in good times and be resilient in challenging times.

 

 

The Seven Co-operative Principles

The following seven internationally accepted Co-operative Principles help shape credit union business decisions and governance, setting them apart from other financial institutions.

1. Voluntary and Open Membership 
Co-operatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.

2Democratic Member Control 
Co-operatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary co-operatives members have equal voting rights (one member, one vote) and co-operatives at other levels are also organized in a democratic manner.

3. Member Economic Participation 
Members contribute equitably to, and democratically control, the capital of their co-operative. At least part of that capital is usually the common property of the co-operative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes. developing their co-operative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the co-operative; and supporting other activities approved by the membership.

4Autonomy and Independence 
Co-operatives are autonomous, self-help organizations controlled by their members. If they enter to agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy.

5. Education, Training and Information 
Co-operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives. They inform the general public - particularly young people and opinion leaders - about the nature and benefits of co-operation.

6Co-operation among Co-operatives 
Co-operatives serve their members most effectively and strengthen the co-operative movement by working together through local, national, regional and international structures.

7. Concern for Community 
Co-operatives work for the sustainable development of their communities through policies approved by their members.