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Two Years Running - Imagine Canada Names Coast Capital Savings Top Canadian Corporate Citizen

Two Years Running - Imagine Canada Names Coast Capital Savings Top Canadian Corporate Citizen

Published 12-01-05

Submitted by Coast Capital Savings Credit Union

SURREY, BRITISH COLUMBIA - Coast Capital Savings has been named a national leader in corporate citizenship in the financial services industry for the second consecutive year by Imagine Canada at the 2005 Canadian Investment Awards yesterday.

"This award reflects Coast Capital Savings' unique approach to community investment and involvement," said Georgina Steinsky-Schwartz, President and CEO of Imagine Canada. "Coast Capital Savings has moved beyond simply writing cheques, to taking a more engaged and innovative approach to corporate citizenship and community building."

Coast Capital Savings President Lloyd Craig said the award is a tribute to the dedication of the credit union's staff.

"To be acknowledged as Canada's premier corporate citizen in the financial services sector for two consecutive years is a significant honour for Coast Capital Savings," said Lloyd Craig, Coast Capital Savings' President and CEO. "Our credit union and team of employees are dedicated to fostering a caring spirit in our communities."

This award was open to organizations from the financial services sector, and the companies were judged by an independent jury panel assembled by Imagine Canada on their contributions to the community, responsible business practices and overall reputation as a good corporate citizen.

Coast Capital Savings was recognized for integrating responsible and accountable social, environmental, and financial objectives into its business practices. Notable highlights of its leadership in community investment that set Coast Capital Savings apart include:

  • hosting a company wide challenge using Hasbro's Mr. Potato Head to engage employees to learn and take part in the different components of corporate social responsibility at Coast Capital Savings;

  • encouraging a culture of giving and volunteering among employees through the donation of more than 20,000 employee volunteer hours to support various social causes and community organizations in the last year;

  • demonstrating a commitment to corporate philanthropy through the donation of $3.8 million (more than seven per cent of its pre-tax profits) to community groups;

  • offering Community Economic Development assistance through community planning, project and organizational development, sponsorships, technical assistance, and community lending; and

  • providing more than $2 million in loans through its Rising Tide Lending Portfolio to entrepreneurs who would otherwise not have access to credit.

    "Giving back to our society is a big part of who we are," said Craig. "For the coming year we are challenging ourselves further and will be the first business in B.C. to participate in the Seeing is Believing program."

    Seeing is Believing is a collaborative approach to develop social, economic, and environmental capacity by inviting business leaders to discover first hand, how they can play a role in addressing some of these concerns. Coast Capital Savings has also launched a new corporate volunteer program that provides staff with paid time to volunteer and provide their expertise to worthy causes.

    The Imagine Caring Company program started in 1988 and quickly became Canada's national program to promote public and corporate giving, volunteering and support for the community. It provides a leadership benchmark for business to give at least one per cent of pre-tax profits to community, promoting and encouraging collaborative partnerships between companies, nonprofits and charities. The Caring Company program is part of Imagine Canada, a new national organization launched in January 2005 that supports Canada's charities, nonprofit organizations and community-minded businesses and gives voice to the work that they do.

    Coast Capital Savings is Canada's second largest credit union with $7.2 billion in assets, 300,000 members and 46 branches across the Lower Mainland, Fraser Valley and Vancouver Island. Coast Capital Savings is listed among Canada's 50 Best Managed Companies. The credit union, designated as a Caring Company by the Canadian Centre for Philanthropy, has been recognized on numerous occasions for its community involvement. It received the United Way Organizational Support Award for its dedication to local communities and the Ethics in Action Award for Overall Leadership.

  • Coast Capital Savings Credit Union

    Coast Capital Savings Credit Union

    Coast Capital Savings is Canada's second largest credit union with $7.2 billion in assets, 300,000 members and 46 branches across the Lower Mainland, Fraser Valley and Vancouver Island. Coast Capital Savings is listed among Canada's 50 Best Managed Companies. The credit union, designated as a Caring Company by the Canadian Centre for Philanthropy, has been recognized on numerous occasions for its community involvement. It received the United Way Organizational Support Award for its dedication to local communities and the Ethics in Action Award for Overall Leadership.

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