Two credit unions are making a large donation to mark their merger and also address local health care.
The Grand Forks Credit Union board of directors approved a $250,000 donation to the Phoenix Foundation.
It calls the gesture a thank you for members supporting their future vision. The credit union members approved a merger with Gulf & Fraser this month.
Gulf & Fraser is also donating $150,000 over the next three years for a total gift of $400,000.
The Phoenix Foundation uses the interest income from endowment funds to provide grants to charitable organizations and scholarships to students in the Boundary.
The gfcu says this money will be used for Grand Forks and area health care by helping up-and-coming medical professionals get accredited or licenced.
“gfcu has always taken seriously the impact we can make, as demonstrated by our $1 million legacy endowment with the Phoenix Foundation of the Boundary Communities,” it said in a statement.
Board chairman Michael Strukoff says the donation is “meant to provide long term value and support to our local health care system.”
“This is a gift which we hope brings long lasting impact,” he said.
The credit unions’ merger takes effect Jan. 1, 2023.