Lakeland Credit Union Celebrating 80 Years
Lakeland Credit Union is one of the financial institutions that stands out in Alberta’s financial industry.
Through booms and busts, they have stood strong and unwavering as a source of inspiration and perseverance, mirrored by members of the communities they serve. Hence, 80 years of community focus and forward thinking makes this year’s celebratory theme: Honoring the Past, Treasuring the Future. Since inception, Lakeland Credit Union has risen to enviable height as a financial institution with consistent growth parallel with a strong commitment to serve members of Lakeland for 80 years.
From humble beginnings, Lakeland Credit Union has grown to be an organization that serves over 10,000 members in Bonnyville, Cold Lake, and surrounding rural areas. LCU started with just 10 people who wanted change and more value in their financial institution. They wanted more than a bank. Forming the St. Louis Savings and Credit Union, on May 7, 1940, these forward thinkers took the first steps in building the credit union we admire today. To join, common shares were 5 cents and deposit minimums were a dime.
Loans didn’t exceed one hundred dollars which was more attainable than traditional banks. This seemingly unconventional idea of putting people before profits is what makes a credit union so much more appealing. With that 5 cents share, you were not just a customer – you became part of something bigger.
The purchased 5 cents share made you an owner of the credit union and gave you equal voting with every
other member. Your voice matters at a credit union.
Lakeland Credit Union has been a partner in cooperation, rising to the challenges and finding solutions
to the needs of members and communities over the years. Lakeland Credit Union has won many awards in its 80 years of operation, including “Credit Union of the Year” on 6 separate occasions – an award that is based on financial performance, community involvement, employee and member satisfaction, and marketing capacities. To
celebrate the last 8 decades of growth and member focused dedication, LCU will be hosting many community events and initiatives for the communities in Lakeland including a movie drive-in scheduled later this year.
In the midst of COVID-19 pandemic, many planned anniversary celebration events by LCU will be dependent on bylaws and guidelines set to ensure community safety. During these events, selfdistancing rules will be enforced at all times. Lakeland Credit Union’s 80th anniversary celebration will conclude on March 3rd 2021 with an Annual General Meeting. With leadership provided by a Board of Directors that are nominated and voted by members, LCU will continue to stay focused on stability, growth and cooperative values to ensure many more years of success await members of Lakeland Credit Union.
About Lakeland Credit Union:
Lakeland Credit Union is dedicated to providing lifelong value to its membership in addition to financial opportunities, while our organizational culture is focused on trusted advice and putting people before profits. Providing an experience rooted in values shared by cooperatives, including democracy and education, the advisors provide individual solutions to the unique challenges faced by the membership.
Partnering with our community in more than business, but as volunteers who are dedicated to raising the standard of the communities we live, work, and play in. Lakeland Credit Union has grown with the Lakeland region, and it reflects the strength, perseverance, and ingenuity that the people showcase.