Community
Both credit unions have long been important contributors to their respective communities. With a shared belief that building strong communities extends far beyond writing cheques, both Interior Savings and Gulf & Fraser have employee volunteer programs in addition to numerous grants and sponsorship programs.
With community commitment remaining a focus, the Merged Credit Union will continue to offer a robust community investment program and it is anticipated to see a boost due to the collective financial strength of the Merged Credit Union. By coming together, total community investment is anticipated to be $8.95 million over 5 years, which includes an incremental benefit of $850,000 over 5 years. This means more support for and investment in local communities.
Future Vision of Governance and Community
The Merged Credit Union’s ability to do more for community starts with governance. The aim is to become a truly province-wide credit union with a governance model that maintains community-driven leadership and decision-making.
By December 31, 2025, the Merged Credit Union intends to establish two community impact councils with a vision to establish additional community impact councils over time. Those councils would report to the Board and provide input on community investment, help to engage communities, and raise the profile of the credit union in their respective communities.
The role of the community councils will be to engage with communities and members throughout the region in partnership with regional management, and to advance the community economic development and member engagement policies and plans.
Supporting community, better together
In August, Interior Savings and Gulf & Fraser came together to raise funds for the United Way’s United for BC Wildfire Recovery Fund. Together, the credit unions matched donations with $67,238 put towards the recovery efforts. Read more.
History of community support
Both credit unions have a long history of supporting local community. To learn more about how Gulf & Fraser support our local communities, read our 2022 Community Investment Report. To learn more about how Interior Savings supports our local communities, read our 2022 Community Investment and Annual report.
Gulf & Fraser
Fundraising
In September 2023, the Gulf & Fraser Annual Charity Golf Tournament raised $95,000 to support the advancement of telehealth at The Centre for Child Development. Watch to learn more.
Over the summer months, Gulf & Fraser employees got together to donate, fundraise and play ball to the BC Children’s Hospital Foundation. In total, $23,000 was raised to support kids and their families. Learn more about this important cause. https://www.bcchf.ca/
Community Support
Gulf & Fraser supported Bea’s Kloset, an organization that helps women and girls in need. Watch to learn more.
Gulf & Fraser supported the construction of Foundry Langley, which offers young people 12-24 access to mental health and substance abuse support. Watch to learn more.
In Grand Forks, Gulf & Fraser and GFCU Savings supported The Heart of the Market Boundary Vendors, where talented kids merged art and business. Watch to learn more.
Gulf & Fraser and GFCU Savings is proud to support the Fish in Schools Program, igniting student engagement and promoting environmental awareness. Click to learn more.
Interior Savings
In celebration of International Credit Union Day, our annual Day of Difference sees employees roll up their sleeves to lend a helping hand across BC’s Interior. Assistance was given to many non-profits including the South Cariboo Elizabeth Fry Society, Lillooet Beautification Society, Harmony House, Kamloops and Kelowna and Prince George Hospice Houses, JoeAnna’s House, Mamas for Mamas, Kelowna Blood Services, and Food Banks across the region.
Our Million Dollar Bursary Program awards up to one thousand $1,000 bursaries to younger members. As we have each year for the past decade, we made $1,000,000 available in student bursaries – as part of our commitment to education and support of our future leaders. We also support mature students through our Lifelong Learners Award.
We invested $750,000 into the Thrive Impact Investment Fund, as part of our ongoing commitment to supporting local social and environmental organizations, projects, and entrepreneurs facing barriers to conventional financing.
Member Rewards are about earning our members’ business and rewarding their loyalty: rewarded:
- $31 million has been returned to our members in the past 10 years.
- $2.6 million earned by members or 22% of operating income returned to members in 2022 through bursaries, dividends and patronage rewards.
Read the Guide to Understanding the Proposed Merger
Read the Guide to learn more about benefits for our communities and members, as well as costs, risks, the voting process, and how our credit unions are aligned.
