News Release
For Immediate Release
Attention: News Director
Credit Union Charitable Giving Nears $5 Million
REGINA, March 23, 2006 - As their new slogan suggests, Saskatchewan credit unions are using their resources and network to help make dreams real for communities as well as individuals. In 2005, according to a recent survey, they contributed and raised $4.8 million for charitable causes. This total includes $3.2 million in direct sponsorships and donations - or 6% of pre-tax profits, a rate that far exceeds the benchmark of 1% set by the Canadian Centre for Philanthropy. An additional $1.6 million was contributed through in-kind gifts, scholarships, paid volunteer time, reduced service fees and fundraising initiatives.
The survey is conducted annually by Ipsos-Reid with credit unions across Canada to identify the types of community initiatives they are involved in and the amount of monetary support they provide for those initiatives. Saskatchewan, Manitoba and Alberta completed the survey in January-February; credit unions in other provinces will be surveyed later this year. The Saskatchewan figures reflect the contributions of 85% of the province’s credit unions.
“These survey results demonstrate that credit unions believe in building, as well as serving, their communities,” says Keith Nixon, vice-president of democratic support for SaskCentral. “They provide monetary support to a wide range of projects, but they also roll up their sleeves and get involved.”
Education, sports, economic development and health care causes were the top sponsorship and donation priorities in 2005. More than 6,000 community organizations also benefited by receiving financial services at reduced rates.
Volunteer contributions are part of the fabric of credit union life; many provide paid volunteer time so that their employees can have an immediate and direct impact on their communities. Last year, this amounted to nearly 12,000 hours of volunteer time.
Another important aspect of credit union giving is the support they provide to students. In 2005, they awarded 256 scholarships and bursaries throughout the province.
Most of the contributions credit unions reported in the survey are local, but they have a broad perspective when it comes to helping others. They have set aside special funding for causes that are provincial in scope and through this fund have made a three-year commitment to Saskatchewan Soccer Association and a ten-year commitment to the Credit Union EventPlex. They provide support for national and international causes through the Canadian Cooperative Association and Cooperative Development Foundation.
For more information, please contact:
Susan Khaladkar
SaskCentral Communications
(306) 566-7474 |
Ian Monteith
SaskCentral Communications
(306) 566-1525 |
Credit Union Fact Sheet
Saskatchewan Credit Unions
Donations & Sponsorships (2005)
Sports
Educational programs
Economic development
Health care causes
International development
Arts and culture
Seniors’ causes
School and college facilities
Housing
Environmental causes
Disaster relief
Other |
$330,056
$298,748
$277,325
$199,260
$178,155
$83,996
$30,788
$21,846
$21,400
$16,485
$3,000
$67,296 |
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