The Alberta Treasury Branch
"North America's best kept banking secret"
The Alberta Treasury Branch (ATB) is undoubtedly one of the largest and most successful public banks in the world, given Alberta’s population. The Alberta Treasury Branch was established in 1938 in the midst of the depression to serve the credit needs of all Albertans. Today ATB Financial has become one Alberta’s most exceptional modern financial institutions; essentially a public bank. It is not a chartered bank and, unlike all banks operating in Canada, is regulated entirely by a government—the Government of Alberta. As ATB Financial is not a private bank but a full-service public bank with full financial services that is owned by Albertans and backed 100% by the assets of the province. ATB Financial is so safe that the only way it could fail is if the entire province experienced a massive asset devaluation.
In his latest boek "An Economy of Well-Being", the author Mark Anielski, an economic strategist specializing in the economics of well-being, calls the The Alberta Treasury Branch "The Best Kept Secret in North America". According to Mark Anielski ATB is an inspiring example of how beautiful banking can be. "It is a significant revelation that public banks could create loans, credit or money for the well-being benefit of both citizens and the government without the need to charge interest on loans, but simply recover the operating costs plus an allowance for loan losses at less than 1.0%. Everyone would benefit from this system", says Anielski.