Island Savings program helps charities

Credit union members donate rebates

Island Savings members recently found out that their banking choice does make a difference to the community.

The credit union’s members were invited to donate part of their patronage rebate to charity. The result is just over $16,000 being donated by Island Savings members to 62 local charities.

“This is the second year we’ve invited members to donate their patronage rebates to charity. The program has proven to be very successful for our members and local charities,” said Rod Dewar, Island Savings president and CEO.

The donations are handled through Island Savings’ Growing Island Families Together community investment program. Island Savings gave $1.3 million back to members in patronage rebates for 2010; members were then invited to partner with the credit union to pay it forward to Island Savings’ charitable partners – B.C. Cancer Foundation’s Inspire the World Campaign, Big Brothers Big Sisters of Victoria, the Victoria Foundation  or a charity of the member’s choosing.

The Inspire the World Campaign was the largest recipient of member donations, receiving almost $7,000.

In addition to Island Savings’ Pay It Forward patronage program, the credit union also invited island residents to donate to the Canadian Red Cross to support disaster relief efforts in Japan. Just over $5,000 was collected and forwarded to the Red Cross.