The Summerland & District Credit Union team presents their $1 million donation to the Community
Foundation.
Image Credit: SUBMITTED/The Community Foundation of the South Okanagan Similkameen
February 02, 2024 - 11:30 AM
A South Okanagan foundation has just received a $1 million donation from a Summerland credit union.
Summerland & District Credit Union's $1 million donation is in the form of an endowment fund and is named after the institution, according to a Community Foundation of the Community Foundation of the South Okanagan Similkameen news release issued today, Feb. 2.
The fund will be used to support local community projects and programs, and because it is an endowment fund the initial donation will remain intact and grants will be given out annually from earnings made on investments.
"We are incredibly grateful for this remarkable contribution from SDCU. It is a privilege to take part in the legacy of an organization that has shown such a deep and long-standing commitment to the well-being of our community. This donation will have a lasting impact on many meaningful projects and programs in our community,” foundation CEO Aaron McRan said in the release.
The credit union donated $75,000 in 2019, which was one of the largest donations to a community organization from the credit union at the time. The credit union supports more than 70 community organizations and charities.
“Enriching people's lives is our core purpose, this includes being a leader in supporting the local community," the credit union's president and CEO Aaron McRann said in the release.
The Summerland & District Credit Union was founded in 1944 and celebrates its 80th anniversary this year. It is the second largest single-branch credit union in Canada and holds more than $388 million in assets with more than 7,300 members.
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