Westminster Savings Credit Union

Westminster Savings Credit Union

January 19, 2006 13:25 ET

Westminster Savings Foundation Increases to Over $4 Million

NEW WESTMINSTER, BRITISH COLUMBIA--(CCNMatthews - Jan. 19, 2006) - A recent capital contribution of $850,000 by Westminster Savings Credit Union has brought the total assets of the Westminster Savings Foundation to over $4 million dollars.

The Foundation receives all of its capital from the Credit Union. Income derived from this capital is in turn disbursed to a variety of worthy charitable endeavours. Some of the many past funding recipients have included the Ridge Meadows Recycling Society, the Sapperton Pensioners Association, the Hyde Creek Watershed Society, Crescent Beach Community Services, and the New Westminster Symphony Orchestra.

"We are pleased to announce this significant increase to our Foundation," says Westminster Savings Credit Union President and CEO Barry Forbes. "This increase makes us one of the largest Credit Union Foundations in the province and will enable us to further contribute to the economic and social development of our communities, which is a key part of our business philosophy and commitment."

The Westminster Savings Foundation was established in 1992 as a means of sharing the credit union's financial success with local charitable and non- profit groups. Since its inception, the Foundation has put more than $900,000 back into the community, focusing its funding towards non-profit and charitable groups operating within the Education, Health, Social Services, Youth, and/or Cultural sectors.

Organizations which provide a direct benefit to the communities served by the Credit Union - White Rock, Surrey, Langley, Maple Ridge, Pitt Meadows, Coquitlam, Port Coquitlam, Port Moody and New Westminster - are eligible to submit an application in writing for financial support from the Foundation. Non-profit and charitable groups wishing to apply to the Westminster Savings Foundation are encouraged to visit www.wscu.com for details about funding guidelines and deadlines for applications.

As one of Canada's largest credit unions, Westminster Savings is dedicated to providing full financial services to the residents of the Lower Mainland. Westminster Savings has $1.1 billion in assets, 51,000 members and eight retail branches in New Westminster, Coquitlam, Port Coquitlam, Maple Ridge, Surrey, and White Rock, with two locations opening in 2006 in Langley and Cloverdale. The credit union also operates two subsidiaries, WS Leasing Ltd, and Westminster Savings Financial Planning Ltd. For more information visit www.wscu.com.

Contact Information

  • Westminster Savings Credit Union
    Harpreet Gill
    Communications Officer
    (604) 528-3836