Interior Savings and the Prince George Community Foundation are pleased to announce the launch of the Spruce Credit Union Legacy Fund, which will see $750,000 invested in community programs and services that will create a long-lasting positive impact in Prince George.
Established as part of the successful merger between Interior Savings and Spruce Credit union earlier this year, the Fund is a nod to the founding members of Spruce Credit Union and a commitment to invest $750,000 of retained earnings back into the community who supported and built the credit union for the past seven decades.
Credit unions, by their very nature, have always been focused on building community resilience, putting people before profit. The Spruce Credit Union Legacy Fund underscores this commitment and enables Interior Savings to continue the work started by Spruce Credit Union in keeping money moving locally, in support of important causes, initiatives and programming for the people of Prince George and the betterment of the community.
To manage the Fund, Interior Savings has partnered with the Prince George Community Foundation.
“The Foundation is honoured to be selected as the trusted steward of the Spruce Credit Union Legacy Fund. This new Fund will ensure Spruce Credit Union’s rich history of generosity in our community continues forever.” says Catherine Pennington, President, Prince George Community Foundation. “We are grateful to administer this new granting program to much needed charitable organizations for the betterment of our community.”
The Fund is seeking to support local projects with far-reaching impacts, that improve the health and wellness of the Prince George community, while promoting belonging, connection and cooperation – creating more livable communities for everyone.
$250,000 will be immediately distributed as Community Impact Grants, with the remaining $500,000 invested with the Foundation as an endowment, with the income generated being granted back to the community annually, forever.
“We hope to see a lot of big ideas and look forward to seeing the positive change we can create together,” says Brian Harris, CEO, Interior Savings. “While our name may be new to Prince George, we’re committed to carrying on the legacy of Spruce Credit Union through this Legacy Fund and other community investment programs to help grow all that is good in this community.”
Local charities and non-profits with big ideas – and needs between $50,000 to $250,000 – are encouraged to submit a letter of interest to the Foundation before October 7, 2022. Shortlisted applicants will be invited to submit a full application and funding decisions will be made by the Prince George Community Foundation, Interior Savings and a Legacy Fund Advisory Committee represented by former Spruce Credit Union board members. The goal is to award the initial quarter of a million by January 2023.
Learn more and apply here.
About Interior Savings:
Interior Savings is a member-owned, democratically controlled credit union dedicated to creating local money while helping to build vibrant communities. Through its 23 branches, 16 insurance offices, Member Service Centre, and two Commercial Service Centres, the Credit Union offers personal and commercial banking and a full range of insurance and wealth management services to more than 77,000 members across 15 BC interior communities. In the last 10 years, Interior Savings has returned $29 million to members through its Member Rewards Program and invested over $5 million in support of community programs. Learn more at interiorsavings.com, or visit Interior Savings on Facebook or Do Some Good.
About the Prince George Community Foundation:
True community development happens through the efforts of passionate citizens. Thanks to the vision and financial investment of local residents, the Prince George Community Foundation was created in 1995 to serve Prince George and the region in perpetuity. With the sustainable management of an endowment, ongoing charitable donations, and passion for community, the Foundation has provided more than $5.625 million to date for projects championed by local registered charities who work to build a livable, resilient community.
Media Contacts:
Prince George Community Foundation Interior Savings
mindy.stroet@pgcf.ca cjohnson@interiorsavings.com
Ph: 250-562-7772 Ph: 250-718-7382
