This weekend Interior Savings’ members will see a little reminder about why banking with a credit union is different. On March 25, as part of its Member Rewards program, Interior Savings will be sharing $2 million in profits with its members.
Member Rewards will be automatically deposited into members’ accounts on Saturday.
“Our members are our owners and our success is shared,” said Interior Savings’ CEO Kathy Conway. “That’s a big part of the credit union difference. Banks are motivated by share price and shareholder wealth, whereas a credit unions’ success is driven by the success of its members and the strength and vibrancy of the communities it serves.”
This year, the Credit Union is giving 22 per cent of 2016 profits to its members which amounts to $2 million in patronage rewards and dividends plus another $500,000 in bursaries to be awarded through its Million Dollar Bursary Program.
Since 2002, the Credit Union has shared $56.5 million with members and invested another $8 million in support of local community projects and events.
Conway credits Interior Savings’ ongoing success to its members, “We are grateful to our members for putting their trust in us for their financial needs and for being part of a cooperative that is putting local money to work right here at home.”
To learn more about what the Credit Union is doing for its members and its communities, go to www.localmoneyforlocalgood.com. Also, a reminder that any member between 17-24 years old who is planning to attend post-secondary this fall has until May 1st to apply for a bursary through Interior Savings’ Million Dollar Bursary program.
Interior Savings is a member-owned, democratically-controlled credit union dedicated to creating local money while helping to build vibrant communities. Through its 21 branches, 16 insurance offices, Member Service Centre, and two Commercial Services Centres, the Credit Union offers personal and commercial banking and a full range of insurance and wealth management services to more than 70,000 members across 14 communities. Since 2002, Interior Savings has returned $56.5 million to members through its Member Rewards Program and invested another $8 million in support of community programs.