The Nelson & District Credit Union hosted Thursday evening's Business after Business soirée, and CEO Doug Stoddart took the opportunity to present the Osprey Foundation with a $3,000 cheque. Before handing it over, he shared some insights with those gathered.
"The challenge in today's world for people working in financial institutions is our low financial margin. Everything's gone way down. The spread for credit unions has shrunk and shrunk and shrunk," he said, after being introduced by local businessman Cal Renwick.
"Our solution to the challenges we're facing is to grow businesses locally to survive. The best way for us to grow is to help our local businesses grow and together we can grow the economy."
He pointed to Danny Semenoff (pictured), a commercial account manager at NDCU, as an example of how they operate as an institution.
"He makes us a lot of money that then goes into local businesses," Stoddart joked.
Helen Lutz of the Osprey Foundation was thrilled by the donation, and shared a video from local filmmaker Amy Bohigian about the work they do.
"We like to think of Osprey as a non-stop hub for local giving," she said, naming the Nelson Streetcar Society and the Pulpit Rock Trail Society as two recipients of their largesse.
"The support we've received from the credit union over the years is way more than just financial. They've been a friend since our beginning in 2000. They've supported us in numerous ways."
She invited everyone to come to Osprey's upcoming retirement dinner for Simon Grypma, where an anonymous donor has pledged to meet 50 per cent of all the donations gathered—a total of $25,000 if they meet their fundraising goal.
In his speech, Stoddart emphasized that local collaboration is the foundation of the economy.
"We're more successful if we all work together," he said.
