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EKC announces Patronage Rewards
East Kootenay Community Credit Union (EKC) says happy holidays to its members by giving; giving to members in Patronage Rewards and dividends and giving to the communities in donations and awards.
“Patronage Rewards are money paid back to our EKC members from part of the interest paid on loans, line of credits, mortgages, and service charges, as well as from interest earned on GICs, RRSPs and deposit accounts,” says EKC CEO Jody Burk. “Patronage Rewards are one way East Kootenay Community Credit Union rewards and gives back by sharing $222,000 with our members.”
According to EKC board chair, Don Holt, “Patronage Rewards are typically shared on an annual basis. This year, EKC conducted a survey of our members and our members told us they wanted lower service charges. While EKC on average have lower service charges than the chartered banks, our board is very happy to pay back to our members 7.8% of the service charges they paid in this year’s Patronage Awards.” Holt adds with a smile, “It’s definitely good to be a member! We encourage all members to check their statements to view their share of this year’s Patronage Rewards.”
According to Burk, the East Kootenay economy has been flat this year. While the Elk Valley has seen some positive growth, the Cranbrook economy has struggled at times over the last year.
“That’s why, given our strong financial position, we’re so pleased to be injecting this money back into our East Kootenay communities, including Sparwood, Elkford, Fernie and Cranbrook,” Burk says. “During these uncertain economic times, especially during the holiday season, families can feel financially stretched. We want to share our success with our members, employees and communities.”
EKC offers local decision-making and local investment and from the local credit union. EKC continues their tradition of investing in the local communities and has donated over $100,000 in way of donations, scholarships and awards.
Included in this amount was the $25,000 community award. Next year the community award will offer $12,500 each to Sparwood, Elkford and Fernie. An additional $3,000 will be offered in Sparwood to recognize neighbourly acts.
Details on the programs are available at EKCCU.COM or stop by EKC, including its new temporary branch in Sparwood. The new branch is schedule to open in the New Year.
Jane Davies/EKC
