We were thrilled to receive a $20,000 contribution from the Nelson & District Credit Union recently. It boosts to $110,000 the capital in NDCU’s endowed fund, established with Osprey in 2001 That capital is never spent, but the annual earnings flow back to the community. It’s like an apple tree that is never cut down, but produces a new crop of apples to share each year.
Here’s what’s special about NDCU’s apples. With most of our funds, the income goes to particular local charities or scholarships designated by the donor. But earnings from the NDCU fund are not designated. Instead, they can be used to boost our general community granting program. That allows us to meet a greater number of requests for funding each year.
We look forward to picking those apples, year after year, and to distributing them to local charities where they will do the most good.