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 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 Spruce Credit Union’s founding members and a commitment to reinvest $750,000 of retained earnings back into the community who has supported and built credit union over the past seven decades.
Credit unions, by their very nature, have always focused on building community resilience, putting people before profit. The Spruce Credit Union Legacy Fund underscores this commitment and allows Interior Savings to continue the work Spruce Credit Union began to keep money flowing locally, supporting causes, initiatives and programs important to the people of Prince. George and community betterment.
To manage the fund, Interior Savings has partnered with the Prince George Community Foundation.
“The Foundation is honored to have been chosen as the trusted steward of the Spruce Credit Union Legacy Fund. This new fund will continue Spruce Credit Union’s rich history of giving back to our community. said Catherine Pennington, president of the Prince George Community Foundation. “We are grateful to administer this new grant program to much-needed charities for the benefit of our community.”
The fund seeks to support grassroots projects with far-reaching impacts that improve the health and well-being of the Prince George community, while fostering belonging, connection and cooperation – creating more livable communities for all.
A total of $250,000 will be distributed immediately as Community Impact Grants, with the remaining $500,000 being invested with the foundation as an endowment, with proceeds generated going back to the community each year, forever.
“We hope to see lots of great ideas and we can’t wait to see the positive change we can create together,” said Brian Harris, CEO, Interior Savings. “While our name may be new to Prince George, we are committed to continuing the legacy of Spruce Credit Union through this Legacy Fund and other community investment programs to help build all that is good in this community.
Local charities and nonprofits with big ideas – and needs between $50,000 and $250,000 – are encouraged to submit a Letter of Interest to the Foundation by 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 members of the Spruce Credit Union Board of Directors. The goal is to award the first quarter million by January 2023.
Find out more and apply at https://pgcf.ca/funding-programs