Northern Savings Credit Union recently revamped its Inspire Fund community grant program dedicated to promoting local initiatives in communities across northern Canada. Following its inaugural launch in 2022, this year, the Northern Savings Inspire Fund Program has increased its funding from $50,000 to $75,000. This boost in financial investment will allow the credit union a greater opportunity to financially support local initiatives that promote sustainability in the northern communities of Prince Rupert, Haida Gwaii, and Terrace.

Applications for the 2023 Inspire Fund are now open. Interested non-profit organizations are encouraged to submit their proposals for funding (ranging between $5,000 - $75,000 in value) by September 1st.

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Source: Terrace Standard

The Northern Savings Credit Union’s Inspire Fund enters its second year at least 50 per cent richer.

The grant program, created last year with $50,000 to support local initiatives that promote “sustainable northern communities” in Prince Rupert, Terrace and Haida Gwaii, will give out $75,000 this year, plus any additional amount generated through its Northern Perks program.

That program will add additional funds up $500 each time a member switches a mortgage over from another financial institution.

“When more people choose Northern Savings for their banking, investment, and insurance needs, the more we can give back to impactful and meaningful projects right here in the North,” said Northern Savings’ president and CEO, Stefan Delloch.

The program favours applications from not-for-profit organizations and those that benefit the greatest number of people for the longest period of time among other selection criteria.

It tends not to support initiatives outside Northern Savings’ service communities or applications for research, surveys, or studies; Retroactive expenses; Wages; Individuals; Religious or political organizations; or advertising and promotion.

Last year the Inspire Fund supported four projects.

Old Massett Village Council received a grant of $25,000 to create a gathering space and park in Tlaga Gawtlaas.

The Prince Rupert branch of Ecotrust Canada received $10,000 to establish an urban farm to grow fresh produce for those in need and invite community members to plant, grow and harvest local food.

Shames Mountain also received $10,000 for generator heat recovery to reduce greenhouse gasses and operating costs.

The Island Wellness Society in Daajing Giids received $5,000 to fill their freezer to provide pre-cooked meals for new parents while teaching cooking skills and redirecting food waste.

The credit union is now accepting applications for the 2023 program. Proposals for $5,000 up to $75,000 will be considered between now and Sept. 1.

The successful applicants will be announced on International Credit Union Day, which this year falls on Oct. 19.

The Inspire Fund brings Northern Savings’ annual contributions back to the communities it serves to more than $125,000.

The credit union also gives out small grants of up to $5,000 year-round and has a substantial scholarships and bursaries program.

Information on how to apply for all of the credit union’s programs can be found on Northern Savings website.