Interior Savings and the Prince George Community Foundation have launched 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.” said 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.
A total of $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,” said 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 at https://pgcf.ca/funding-programs