Purpose
The Credit Union Foundation of BC is a province-wide philanthropic organization, founded in 1958 and funded by BC credit unions. The foundation’s primary purpose is to provide education awards to post-secondary students in need of financial assistance for academic, technological or vocational training at accredited schools within the province. The foundation also provides international support for co-operative programs and oversees the Distinguished Service Awards given to those industry leaders who have furthered the credit union movement in BC.
Operations
The Foundation was incorporated in 1958 under the Society Act of British Columbia and is administered by a Board of volunteer Trustees elected by members of the Foundation at the annual general meeting. The Trustees are responsible for the administration and investment of donations, capital grant contributions, memorials, gifts, bequests and trusts, and for the disbursement of income derived from capital as well as from donations.
Funding
Every credit union in British Columbia supports the Foundation through annual donation dues. The funds for awards come from the earnings the Foundation receives on its capital. Most of the capital has been donated by credit unions and credit union members to Memorials & Trusts in honour of credit union pioneers.
Credit unions are local, democratically controlled co-operative financial institutions. When first started in the 1940’s, they relied totally on the unpaid volunteer commitment of their members for their board of directors and operating staff. Over the years, as they grew, they hired professional personnel. It is in recognition of the time and dedicated service of both volunteers and personnel that credit unions donate funds to the Foundation.
Since then many named funds have been established by credit unions to support the Foundation’s work. Other funds have been created through bequests or by individuals in honour of loved ones. All provide ongoing gifts to future generations of British Columbians striving to complete their education and make a meaningful difference to their community.
About the Trusts & their Awards
The Credit Union Foundation provides public colleges and universities throughout BC with award monies annually to be disbursed to deserving students in need of financial assistance. The “Student Information” section lists the colleges and universities to which grants are presently provided.
For individual bursary applications received by the Foundation, many of our funds generously provide bursaries to students in any program of studies, but there are a few for which the donor preferences are taken into consideration when selecting recipients for the awards. For example:
Garry Ermacora Memorial Trust: Former Selkirk Secondary student whose goal is to become a medical doctor.
Paul Humphries Memorial: For students on aviation related programs.
Shirley C. Schmid Bursary Trust: A Co-operative Housing Association resident.
Shirley Lewis Smith Memorial: Selkirk Secondary student pursuing fine arts.
Wallace Wright Bursary Trust: Surrey School District student pursuing post-secondary vocational or technological training.
For credit union named funds, their members receive first preference for the awards.
The A. Rod Glen International Trust Fund provides for grants to credit union and co-operative projects overseas.
The Board of Trustees
Bill Corbett, President (Stabilization Central CU)
Anita Cheng, Vice-President (Vancity CU)
Jana Lukasek, Treasurer (Bulkley Valley CU)
Balbir Bains, Trustee (Greater Vancouver Community CU)
Kirsten McElgunn, Trustee (Prospera CU)
Mindy Kailly, Trustee (Coastal Community CU)
Kirsten I’Anson, Trustee (Community Savings CU)
Amie O’Brien, Trustee (Integris CU)
Anita Jensen, Trustee (Gulf & Fraser CU)
Aron Burke, Trustee (Kootenay Savings CU)
Brenda Monk, Trustee (Central 1)
Nancy Crockett, Trustee (Sunshine Coast CU)
Trustees Emeritus/Emeritas
Bill Wright and Phil Moore (GVC Credit Union)
Gene Blishen (Mt. Lehman CU)
Meredith Pue (Westminster Savings CU)
Gus Hartl (Aldergrove CU)
Jeff Shewfelt (Gulf & Fraser CU)