With just a few days before Spruce Credit Union officially merges with Interior Savings, the Spruce board of directors met to sign the $750,000 cheque which will establish a new Legacy Community Fund.
“This fund was made possible by our members and by the founders of Spruce Credit Union who set in motion, some 70 years ago, an alternative way of banking that puts people before profits and keeps money working here for the betterment of our community,” said Ken Dickson, Spruce Credit Union CEO.
The new Legacy Community Fund, which was established as part of the upcoming merger with Interior Savings, will invest $750,000 in community initiatives within the Prince George region over the next two to three years. The fund will be held by Interior Savings Credit Union and granting decisions will be made by an advisory committee of six current Spruce Credit Union board members. More details on the fund and how to apply will be released in the new year.
“This is just the beginning of our credit union’s increased ability to create positive and lasting change in Prince George,” said Dickson. “By combining forces with Interior Savings, in addition to this Fund, Prince George will also now benefit from Interior Savings’ community sponsorship programs, employee volunteer program, Community Investment Fund, and the Million Dollar Bursary Program which we anticipate will distribute upwards of $50,000 to $150,000 in bursaries every year to Prince George students.”
After Spruce members voted with an overwhelming 99% in favour of the merger, Spruce Credit Union will officially join forces with Interior Savings Credit Union on January 1st. For Spruce members, it will be business as usual for the next little while, as the two credit unions work to integrate operations. Eventually, Spruce will be rebranded as Interior Savings and its two Prince George branches will form part of a network of 23 Interior Savings branches across the BC interior.