Type | Credit Union |
---|---|
Industry | Financial services |
Founded | 1940 |
Headquarters | Burnaby, British Columbia |
Key people | Jeff Shewfelt - Co-CEO Bill Kiss - Co-CEO |
Revenue | $54.46 million CAD (2020) [1] |
$13.59 million CAD (2020) [1] | |
Total assets | $2.5 billion CAD (2020) [1] |
Subsidiaries | Gulf and Fraser Insurance Services Ltd. |
Website | www.gffg.com |
Gulf and Fraser Fishermen's Credit Union operating as G&F Financial Group is a member-owned financial institution in Burnaby, British Columbia, Canada, and the eighth largest credit union in British Columbia, by asset size. [2] With a history dating back to 1940, G&F Financial Group provides banking and a variety of financial services including borrowing, investments and financial planning. It is insured by the Credit Union Deposit Insurance Corporation of British Columbia, a crown corporation that insures the deposits of credit union members. [3]
G&F Financial Group's history extends back to 1940, when a group of BC fishermen incorporated the North Arm Fisherman's Credit Union. Since that time, the credit union has gone through a number of mergers and name changes—the most significant occurring in 2004 when United Savings Credit Union merged with Gulf and Fraser Fishermen's Credit Union. One of those mergers was with the Pioneer Credit Union which was the third credit union to be chartered in British Columbia and was granted charter number 003, which G&G retained for the merged entity. As of May 2020, the combined entity has 16 branches located in Vancouver, Burnaby, New Westminster, Surrey, Port Coquitlam, Richmond, and Langley.
The corporate office is located in the Edmonds area of Burnaby.
The following is an incomplete list of previous credit unions that form part of G&F Financial Group's history (either through name changes, mergers, or acquisitions):
As a member-owned credit union, G&F Financial Group has a long history of supporting the communities that they serve. In addition to financial donations, G&F Financial Group encourages staff involvement within the communities that they operate.
On February 25, 2021, G&F Financial Group announced their exclusive sponsorship of the Personal Finance program for high school students, run by Junior Achievement British Columbia. The credit union also donated $20,000 into the program. [4]
In 2020, G&F Financial Group, the Board of Directors, employees, partners and sponsors gave $575,000 to local community groups, scholarship and bursary programs, charities, and cultural and sports organizations. This included three major charitable fundraisers where employees, partners and sponsors raised $170,000. [5]
On December 30, 2020, G&F Financial Group announced a donation of $80,000 to local charities and groups impacted by the COVID-19 pandemic. Of that, $60,000 went to local food banks, shelters, and hospitals, which were among some of the hardest hit by the COVID-19 pandemic.
On September 28, 2020, G&F Financial Group announced a donation of $132,000 to The Centre for Child Development in Surrey, BC. This was the second year of their three-year fundraising commitment for the Centre, which helps children with special needs reach their potential. The Centre provides physiotherapy, family services, childcare, communication and occupational therapy, and recreation services to thousands of children in Metro Vancouver. [6]
On January 7, 2020, G&F Financial Group announced they had reached a milestone of $1 million in donations to the United Way of the Lower Mainland [7] since they started fundraising in 2001.
On September 9, 2019, G&F Financial Group donated $124,680 to The Centre for Child Development. The Centre helps children with special needs reach their potential; it provides physiotherapy, family services, childcare, communication and occupational therapy, and recreation services to thousands of children in Metro Vancouver. Funds were raised through G&F's annual golf tournament and matched by an anonymous foundation. [8]
On June 2, 2019, G&F Financial Group presented a cheque for $26,000 to BC Children's Hospital Foundation during their Miracle Weekend event. G&F employees raised funds for the Foundation through a variety of events, including 50/50 draws, Jeans Day, music trivia, sports jersey draws, Bingo games, and by selling Purdy’s chocolates. “Superhero” employees in each corporate department and branch put extra effort into encouraging their co-workers to participate in the fundraising activities. [9]
On January 8, 2019, G&F Financial Group announced they had donated $54,000 to the United Way of the Lower Mainland. Funds will go towards the welfare of children and breaking the cycle of poverty. Over the lifetime of G&F's campaign, the credit union has donated close to $880,000 to the United Way of the Lower Mainland. [10]
In 2018, G&F Financial Group, the Board of Directors, employees, partners and sponsors gave $532,000 to the communities that they serve, distributed in the form of donations, sponsorships, educational bursaries, scholarships and through the G&F Financial Group Foundation. [11]
On September 20, 2018, G&F Financial Group announced they had donated $100,000 to the Richmond Hospital Foundation. The funds will support the foundation's ACT NOW campaign to build a much-needed acute care tower. The funds were raised through two events held by the credit union: a special retirement dinner and their annual charity golf tournament. [12]
On November 2, 2011, the South Burnaby Branch of G&F Financial Group was the winner of the Burnaby Board of Trade's Business Excellence Community Spirit Award. The award recognizes local organizations for demonstrating outstanding corporate social responsibility and for the strong support of local non-profit organizations and agencies. [13]
Telus Communications Inc. (TCI) is the wholly owned principal subsidiary of Telus Corporation, a Canadian national telecommunications company that provides a wide range of telecommunications products and services including internet access, voice, entertainment, healthcare, video, and IPTV television. The company is based in the Vancouver, British Columbia area; it was originally based in Edmonton, Alberta, before its merger with BC Tel in 1999. Telus' wireless division, Telus Mobility, offers HSPA+, and LTE-based mobile phone networks. Telus is the incumbent local exchange carrier in British Columbia and Alberta. Telus' primary competitors include Shaw Communications. It also competes in the mobile sector with Shaw Communications, Rogers Communications and Bell Canada.
Coast Capital Savings Federal Credit Union is a member-owned financial co-operative headquartered in Surrey, British Columbia. By membership, it is among the largest credit unions in Canada with 535,000 members and $25.2 billion in assets. Coast Capital Savings has 52 branches in the Metro Vancouver, Fraser Valley, Okanagan and Vancouver Island regions of British Columbia.
Navy Federal Credit Union is a global credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). Navy Federal is the largest natural member credit union in the United States, both in asset size and in membership. As of March 2021, Navy Federal has US $138.6 billion in assets, and has 10.1 million members.
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James Allen Pattison, is a Canadian business magnate, investor and philanthropist. He is based in Vancouver, British Columbia, where he holds the position of chief executive officer, chairman and sole owner of the Jim Pattison Group, Canada's second largest privately-held company, with more than 45,000 employees worldwide, and annual sales of $10.1 billion. The Group is active in 25 divisions, according to Forbes, including packaging, food, forestry products.
Envision Financial, a division of First West Credit Union, is based in British Columbia, Canada. Founded in 1946, Envision Financial was established in 2001 through a merger between Lower Mainland-based Delta Credit Union, whose roots were in the fishing industry, and Fraser Valley-based First Heritage Savings Credit Union, which had historic ties to the farming and agriculture industries. First Heritage Savings Credit Union was the product of a merger between East Chilliwack Credit Union and Clearbrook District Mennonite Savings Credit Union in 1983. It is insured by the Credit Union Deposit Insurance Corporation of British Columbia.
Pentagon Federal Credit Union, widely known by its abbreviated name PenFed, is a United States federal credit union headquartered in McLean, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). PenFed is the nation's third largest federal credit union, with assets of $25 billion and more than 1.8 million members as of July 2018.
Island Savings, a division of First West Credit Union, is based in British Columbia, Canada. Since 1951, Island Savings has served communities on Vancouver Island and Gulf Islands.
Michigan State University Federal Credit Union (MSUFCU), headquartered in East Lansing, Michigan, is the largest university-based credit union in the world and is federally chartered and regulated under the National Credit Union Administration (NCUA). MSUFCU provides a variety of financial products and services including deposit accounts, personal and business loans, investments, and insurance, among others. MSUFCU is owned by its membership and overseen by a board of directors elected by said membership. As of year-end 2020, MSUFCU has 21 branches, over 300,000 members, more than $5.6 billion in assets, and nearly 900 employees.
United Federal Credit Union (UFCU) is a federally chartered credit union based in St. Joseph, Michigan with a 70-year history. Originally chartered in 1949, UFCU has more than 174,000 Members in all 50 states and the District of Columbia. The credit union assets in excess of $2.8 billion as of 2019. UFCU has 35 branches in six states: Michigan, Ohio, Indiana, Nevada, North Carolina, and Arkansas. United Federal Credit Union offers a diverse array of products and services for businesses and individuals, include checking and savings accounts; auto loans, RV and boat loans, credit cards; mortgage, construction, and lot loans; home equity loans, and lines of credit; business accounts, loans, and credit cards.
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The COVID-19 pandemic has greatly impacted the international and domestic economies. Thus, many organizations, private individuals, religious institutions and governments have created different charitable drives, concerts and other events to lessen the economic impact felt.