Copperfin CEO Dennis Alvestad (middle) joins Mayor Dave Canfield (right)

Copperfin Credit Union staff joined with members to celebrate the re-opening of their downtown offices on Second Street in Kenora earlier today. Mayor Dave Canfield was on hand for the ribbon-cutting ceremony.

When renovations were completed late last year, Alvestad said the expansion would help transform the business into a $200 million company, from an $80 million entreprise. Copperfin was formed by the merger of Kenora District and Lakewood Credit Union in 2007, as members looked for a way to compete in the competitive marketplace.

At the time of the merger, the number of credit unions had dropped from more than 1,500 institutions, as well as over 400 Caisse Populaires, to a low of about 200 for both.