Kootenay Savings Credit Union

Last updated
Kootenay Savings Credit Union
Credit union
Industry Financial services
Founded1969
Headquarters Trail, British Columbia
Canada
Key people
Brent Tremblay - President & CEO
Total assets $796 million CAD (2008) [1]
Number of employees
250
Website kscu.com

Kootenay Savings Credit Union, located in the Southern Interior of British Columbia, is the twenty-ninth largest credit union in Canada with over 39,000 members and assets of over $1 billion. [1] It is insured by the Credit Union Deposit Insurance Corporation of British Columbia.

British Columbia Province of Canada

British Columbia is the westernmost province of Canada, located between the Pacific Ocean and the Rocky Mountains. With an estimated population of 5.071 million as of 2019, it is Canada's third-most populous province.

Credit union member-owned financial cooperative

A credit union is a member-owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services.

Canada Country in North America

Canada is a country in the northern part of North America. Its ten provinces and three territories extend from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometres, making it the world's second-largest country by total area. Its southern border with the United States, stretching some 8,891 kilometres (5,525 mi), is the world's longest bi-national land border. Canada's capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver.

The organization has 11 branches throughout the interior of British Columbia, mostly around the major centres of Trail, Castlegar and Invermere. Its subsidiaries include Kootenay Savings MoneyWorks as well as a jointly owned Insurance group called Kootenay Insurance Services, a company formed through the cooperation of Nelson and District Credit Union and East Kootenay Community Credit Union. [2]

Trail, British Columbia City in British Columbia, Canada

Trail is a city in the West Kootenay region of the Interior of British Columbia, Canada. It was named after the Dewdney Trail, which passed through the area.

Castlegar, British Columbia City in British Columbia, Canada

Castlegar is the second largest community in the West Kootenay region of British Columbia, Canada.

In April 2007, Kootenay Savings' Annual Report parodied Wikipedia and other online communities such as Flickr and MySpace to show how community-run organizations succeed.[ citation needed ]

Flickr Image and video hosting website

Flickr is an image hosting service and video hosting service. It was created by Ludicorp in 2004. It has changed ownership several times and has been owned by SmugMug since April 20, 2018.

History

Kootenay Savings was formed on January 1, 1969 by the amalgamation of three thriving credit unions in Trail, Fruitvale and Castlegar, offering a spectrum of financial services to the three communities.

The amalgamation of the three credit unions marked the first of its kind in British Columbia.[ citation needed ] Although amalgamations were not new to the credit union system, they usually came about through smaller credit unions with limited services and facilities joining larger more sophisticated operations. This was the first time three successful credit unions each with a broad range of services joined together to form a single unit.

Awards

Kootenay Savings has won numerous awards including the Marketing Association for Credit Unions AIME Award for its Annual Reports and successful Flexible Choice Mortgage campaigns.

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References

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