Interior Savings Welcomes New Board Member, Announces 2017 Results

Kelowna, BC (May 9, 2018) – At Interior Savings’ Annual General Meeting on May 8th, results of the recent Board of Directors election were announced and 2017 results shared.

Incumbents Stacey Fenwick, Pat Ryan, and Shelley Sanders were elected by acclamation. The Credit Union also welcomed a new member to its board, Bruce Tisdale of Merritt, while bidding farewell to Jeff Holm of Kamloops who is now retiring after 15 years of service to the Board.

Following the AGM, Elmer Epp was re-elected as Chair of the Board and Pat Ryan was elected Vice-Chair.

At the meeting, Board Chair Elmer Epp addressed the membership with a focus on what the credit union’s tagline, Local Money for Local Good, meant for its members and its communities in 2017.

Last year, the Credit Union experienced strong financial performance amidst a growing local economy. Assets grew 3.4% to $2.5 billion with earnings from operations of $11.7 million.

According to Epp, that translates to good news for members and the community, “The Credit Union will return 20% of those earnings to members through its profit sharing program. $1.6 million was paid in cash rewards and dividends last month and another $800,000 in bursaries will be awarded to students this fall. On top of that, Interior Savings invested another half a million dollars in support of numerous community programs and events such as our Moonlight Movie Tour, Unplug and Play, and Ribfest.”

Kathy Conway, Interior Savings’ CEO, added that choosing to bank with Interior Savings means choosing to invest in your community and helping to build a strong local economy. “Thanks to the deposits our members entrust with us,” she said, “we are currently funding nearly $2 billion in loans and mortgages to help local individuals and businesses succeed and grow.”

About Interior Savings
Interior Savings is a member-owned, democratically-controlled credit union dedicated to creating local money while helping to build vibrant communities. Through its 21 branches, 16 insurance offices, Member Service Centre, and two Commercial Services Centres, the Credit Union offers personal and commercial banking and a full range of insurance and wealth management services to more than 70,000 members across 14 communities. In the last 16 years, Interior Savings has returned $58.7 million to members through its Member Rewards Program and invested nearly $8 million in support of community programs.

For more information, please contact:
Sue Manzuik, Community Engagement Specialist
Interior Savings
T: 250.869.8213 local 8213