External agencies operate separately from, and are
not administered by, the department. In some cases,
departmental staff offer services to them.
These agencies report
to the Minister of Finance, and to the people and
businesses they serve. External agencies are
also:
- Operated at a distance
from the Minister. The Minister is responsible
for the overall direction of the organization;
but is not involved in its day-to-day operations.
- Created by a law.
- Run by a board of
directors.
- Funded (in almost
all cases) by charging for the services they offer.
They receive little or no subsidy from government.
- Set up so the organizations
can contract services, own property and in engage
in legal proceedings in their own name.
The Alberta Superintendent
of Financial Institutions is the liaison between
the Minister of Finance and many of these external
agencies.
Alberta Superintendent
of Financial Institutions
Alberta Finance
Room 402, 9515 - 107 Street
Edmonton, Alberta T5K 2C3
Phone: (780) 427-5064
Fax: (780) 422-2175
Six of the largest
external agencies that report to the Minister of
Finance are:
ALBERTA
CAPITAL FINANCE AUTHORITY (ACFA) (Formerly
Alberta Municipal Financing Corporation)
ACFA provides local
Alberta governments funding for capital projects
at the lowest possible costs. For example, it provides
loans to help create schools, roads, and other infrastructure
projects across Alberta. ACFA has the lowest administration
costs of similar organizations in Canada.
Currently, ACFA provides
financing for:
- 220 towns and villages
- 68 school districts/divisions
- 43 counties
- 21 municipal and
improvement districts
- 28 health authorities
- 22 irrigation and
water service commissions
- 15 cities
- 11 colleges
- 3 universities
- 2 specialized municipalities
- 2 airport authorities
Visit ACFA's
website to learn more about their activities.
ATB
FINANCIAL
ATB Financial (formerly
Alberta Treasury Branches) offers Albertans financial
services at a competitive price. The institution
provides a wide range of deposit and loan products,
including mutual funds and telephone banking.
Over half a million
Albertans make ATB Financial their first choice
for deposits, personal loans, mortgages, savings
and checking accounts. ATB Financial also delivers
leading edge products to more than 20,000 business
customers.
ATB Financial provides
financial services to Albertans through a network
of 145 branches, 132 agencies, a 180-seat Customer
Contact Centre and 226 automated banking machines
(ABMs) in 240 communities throughout Alberta.
Visit the ATB
Financial website to learn more about the corporation's
activities.
ALBERTA
PENSIONS ADMINISTRATION (APA)
Alberta Pensions Administration
(APA) is responsible for administering seven statutory
pension plans under the direction of four pension
boards and the Government of Alberta, as well as
two supplementary plans.
APA administers the
following pension plans:
- Local Authorities
Pension Plan (LAPP)
- Management Employees
Pension Plan (MEPP)
- Members of the Legislative
Assembly
Pension Plan (Closed 1989)
- Provincial Judges
and Masters in Chambers
Pension Plan
- Public Service Management
(Closed Membership) Pension Plan (PSM(CC)PP)
- Public Service Pension
Plan (PSPP)
- Special Forces Pension
Plan (SFPP)
The Corporation serves 464 employers, 136,000 active
plan members, 52,000 pensioners and 27,000 members
who have chosen to defer their benefits.
Visit APA's
website for more information.
ALBERTA
SECURITIES COMMISSION
The Alberta Securities
Commission (ASC) regulates the capital market in
Alberta and balances the interests of investors,
issuers and persons registered to sell securities.
It administers the Alberta Securities Act, which
facilitates a fair and efficient capital market.
The securities regulatory system is based on two
fundamental principles:
- To provide investors
with full, true and plain disclosure so that they
can make informed investment decisions.
- Confidence in the
integrity of the capital market must be maintained.
Confidence in the capital market stems partly
from confidence in the securities regulatory system.
ASC plays a key role in maintaining confidence
in the capital market in Alberta.
Visit the ASC
website to learn more about the commission's
activities.
AUTOMOBILE
INSURANCE RATE BOARD (AIRB)
The new Automobile Insurance
Rate Board is a key component of the reforms to
the auto insurance system.
The mandate of the board is
to set premiums for basic coverage, monitor premiums
for optional coverage and review and approve rating
programs for new insurers entering the Alberta market.
The new board will annually
set the maximum premiums for basic coverage that
all insurers can charge.
Visit AIRB's
website for more information.
CREDIT
UNION DEPOSIT GUARANTEE CORPORATION (CUDGC)
The credit union system
in Alberta is comprised of over 67 credit unions
that operate 196 branches in 124 communities throughout
the province. CUDGC guarantees deposits held with
credit unions in Alberta. That means if, for some
reason, a credit union cannot return a customer's
deposit, CUDGC ensures repayment of that deposit.
As well, CUDGC maintains the unclaimed deposits
of people who cannot be located by the credit union.
CUDGC also assists,
advises and, on occasion, directs credit unions
to ensure that credit unions use sound business
practices.
CUDGC monitors and
regulates credit union performance by conducting
examinations and working closely with credit unions
on improving the regulatory environment of the credit
union system. It also provides loan review and approval
for certain credit union loans.
Visit the CUDGC
website for more information.
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