‘Com­mu­nity’ more than just a name for Colch­ester credit union

Credit union’s Cor­po­rate So­cial Re­spon­si­bil­ity pol­icy to keep com­mu­nity ben­e­fits flow­ing

Truro Daily News - - COLCHESTER COUNTY -

TRURO, N.S. – Non-profit groups in Colch­ester and Cum­ber­land coun­ties will con­tinue to ben­e­fit from Com­mu­nity Credit Union con­tri­bu­tions.

“Sup­port­ing the com­mu­nity is in our DNA,” said pres­i­dent and CEO Dar­rell Kuhn, fol­low­ing the credit union’s re­cent an­nual gen­eral meet­ing in Truro.

“It is a tremen­dous feel­ing to see the im­pact we are hav­ing in the lives of or­di­nary cit­i­zens and in the com­mu­nity at large.”

Dur­ing the past year, the fi­nan­cial institutio­n’s board ap­proved a Cor­po­rate So­cial Re­spon­si­bil­ity pol­icy that re­sults in 40 per cent of its sur­plus rev­enues go­ing di­rectly back to the communitie­s it serves.

That ac­tion for­mal­ized a previous un­of­fi­cial pol­icy in which more than $1 mil­lion in spon­sor­ships, dona­tions, schol­ar­ships and sup­port have been pro­vided to both communitie­s over the past five years. Those con­tri­bu­tions in­clude sig­nif­i­cant in­vest­ment in com­mu­nity in­fra­struc­ture such as the Rath-east­link Com­mu­nity Cen­ter, the new Colch­ester Food Bank Society, the Amherst Li­ons Park, the Com­mu­nity Credit Union Busi­ness In­no­va­tion Cen­tre and the new Colch­ester Men­tal Health cen­tre soon to opened in down­town Truro.

And Kuhn said it is al­ways a plea­sure to be able to make those com­mu­nity con­tri­bu­tions.

“It’s the most fun you have,” he said. “You are out meet­ing with peo­ple and when you see what it does, it changes you ac­tu­ally.”

The credit union is a lo­cally owned fi­nan­cial institutio­n that also bills it­self as a “com­mu­nity de­vel­oper.”

“We take great pride in the fact that 100 per cent of prof­its stay in the com­mu­nity,” added board chair­man Howard Welch.

“We con­tinue to di­ver­sify and grow with the ac­qui­si­tion of wealth man­age­ment and bro­ker­ing firms, and the cre­ation of new products and in­no­va­tive tech­nolo­gies.”

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