(June 6 -10:10 ET) – B.C.’s credit unions put $5.83 million into charity last year, up slightly from $5.74 million in 1998, according to an Angus Reid Group survey.
The credit unions gave $3.4 million in corporate donations and sponsorships, $1.4 million to charitable foundations, and more than $380,000 in education bursaries and scholarships. They also donated $700,000 in financial services to non-profit organizations. A full 98% of credit unions made donations or sponsorships. Corporate giving amounts to 4.5% of credit unions’ pre-tax profits.
Wayne Nygren, president and CEO of Credit Union Central of B.C., says “Unlike other financial institutions, credit unions have always been leaders in community involvement.”
B.C.’s 77 credit unions have more than $22 billion in assets and 1.4 million members.