Interior Savings offers support for non-profits

Interior Savings has pledged $150,000 to help non-profit agencies through the COVID-19 pandemic.

“Many of the non-profits the credit union works with are now finding themselves called upon to fill an increased need for food and basic essentials; to spend more on sanitization supplies and personal protective equipment; and to invest in new technology to serve their clients or to help their clients stay connected to support networks,” said Kathy Conway, CEO of Interior Savings. “Our local non-profits need our help.

“At a time when requests for service are increasing, many are seeing donations decline while costs keep mounting.”

In response to this urgent need, Interior Savings is pledging $150,000 to help non-profits adapt their operations to continue providing essential services.

The support will be delivered through a number of measures, the most significant of which is a $100,000 Community Relief Fund.

From May 1 to May 30, non-profits can apply to the credit union’s Community Relief Fund for assistance with extraordinary expenses they are facing due to COVID-19.

Grants will be in the range of $2,000 to $7,000.

At the same time, the credit union has introduced a new Community Impact Term Deposit as a way to top up its relief fund.

Members who invest in this one-year term will receive a two per cent return on their investment and Interior Savings will add a matching two per cent to its Community Relief Fund, up to another $50,000, for a potential total of $150,000.

“As a cooperative organization, we know that we can do even more when we work together,” said Conway. “With an attractive rate, our new term deposit will help our members financially while also allowing them to leverage their investment to assist with local relief efforts.”

The credit union has also pledged its support to a variety of other community relief efforts, including programs led by the United Way.

More information can be found at www.interiorsavings.com