The Spruce Credit Union announced the creation of a $750,000 Legacy Community Fund on Wednesday.
The new fund will be used to support community initiatives in the Prince George area over the next two to three years, according to a statement issued by the credit union. Spruce Credit Union will merge with Interior Savings Credit Union on Jan. 1, and the community fund was created as part of the merger agreement.
“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,” Spruce Credit Union CEO Ken Dickson said in a press release. “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.”
The Legacy Community Fund will be held by Interior Savings, and granting decisions will be made by an advisory committee of six current Spruce Credit Union board members. Details on how organizations will be able to apply for grants from the fund will be made available in the new year.
Over time, Spruce Credit Union’s two Prince George branches will be integrated into Interior Savings’ network of 23 branches throughout the B.C. interior.
“This is just the beginning of our credit union’s increased ability to create positive and lasting change in Prince George,” Dickson said.
