Canada’s credit unions have marshalled a fast response to the catastrophic floods tearing through the central, eastern and western regions of the country.
The floods – the worst to hit the country in 50 years – began on 3 May, leaving thousands of people evacuated and a state of emergency declared in cities Montreal and Laval.
Credit union association Desjardins Group has donated US $100,00 to the Canadian Red Cross to help relief work, and raised another US $220,000 through its network of member organisations.
“We can’t remain indifferent to the struggles people are facing right now,” said chair, president and CEO Guy Cormier. “We know there’s a lot to do before the victims can get back to their everyday lives.
“So, in the spirit of solidarity, we’ve committed to supporting people and organising several clean-up operations in the coming weeks with the help of volunteers in the areas where the Red Cross is deployed.
“We’ll also be freeing up employees full time to lend a hand to the Red Cross for a month and provide human resources expertise. I strongly encourage Desjardins’ employees to be generous with their time and help those in need.”
Desjardins is also providing financial services to members affected by floods, including payment deferrals, emergency loans and personalised agreements.
Other mutuals have also offered help, with 17 credit unions donating CA $150,000 between them: Affinity, Alterna, Assiniboine, Cambrian, Coast Capital Savings, Connect First, Conexus, FirstOntario, First West, Libro, Meridian, Prospera, Servus, Steinbach, UNI Financial, Vancity and Westminster Savings.
Rob Paterson, president and chief executive of Alterna, attended a meeting in Halifax with representatives from some of Canada’s largest credit unions.
He said: “As soon as the extent of the flooding was mentioned, the outpouring of support from the credit union leaders around the table was overwhelming. Within minutes, everyone pledged to support the Red Cross spring flood relief efforts across Canada.”
Conrad Sauvé, president and chief executive of Canadian Red Cross, welcomed the support from the sector.
“Canadian Red Cross volunteers are responding to flooding in several provinces across the country. The generosity of Canadian credit unions will help us as we continue to support the needs of the most affected individuals and communities,” he said.
