The Sunshine Coast Credit Union (SCCU) is launching what it calls “an unprecedented series of investments to support local businesses and local economic recovery” as part of its response to the COVID-19 pandemic.
“Our business community is facing challenges that none of us have seen before. There’s no playbook for this, but what we do know as a cooperative is that we are stronger when we build our future together,” CEO Shelley McDade said in a June 10 release announcing a $100,000 business grant program and a new $10,000 Business Resiliency Platform.
“It has been 80 years since we’ve seen such a need to unite from an economic perspective”, said McDade. “This is a time for action; it’s a time for neighbours to be there for one another once again… This is a pivotal moment for the Sunshine Coast. We have both the honour and responsibility to be part of the solution.”
The grants are being made available to businesses that are Credit Union members and the Business Resiliency Platform will be offered to the entire local business community with costs covered by the credit union.
SCCU has also created a Rebuilder Term Deposit and $375 will be added to the grant fund for every term deposit taken out up to a maximum of $25,000.
McDade said the Credit Union is ready with “every ounce of expertise and advice our team has to offer.”
“This investment in our business community is made possible only because people have chosen their locally-owned credit union as their primary financial institution – these people are our members,” McDade said.
“This is their gift to the community, and we believe it’s going to help local businesses not only survive this crisis, but thrive in the future.”
SCCU’s chief marketing officer, Jodi Fichtner, said each local business has unique challenges but there are common threads such as the need to access capital, expertise to redefine and reinvent how best to operate, and customer support.
“Every business we can collectively support today, means a faster recovery for our community tomorrow,” she said. “It is going to depend on everyone who calls the Sunshine Coast home to pitch in, buy local, support local and bank local in order for our small business-based economy to emerge from this crisis in a sustainable way.”
Additional information about SCCU’s Business Resiliency Platform and the grant program are available here: http://www.sunshineccu.com/business/reinvention-starts-here
