Hello valued members,
 
Summer is finally here, the province has reopened to Canadian tourists, vaccines are flowing, and we are well on our way to what will hopefully be a gorgeous and prosperous season. Are you looking forward to sunnier days and warmer weather? I sure am!
 
Dave and I have been working diligently on developing the NLFC’s Member Value program and are thrilled to have been able to roll out some of the new NLFC perks to you in May and June! The development of our Member Value program is ongoing, but it is important to us that you know we are working on establishing a “shop local, live local” network to allow you to take advantage of some amazing deals while supporting our local NL co-op economy during this important period of recovery. Keep an eye on your mailbox (both email and post) for a completely revamped Member Value package coming soon. 
 
As we have now passed the one-year mark of living with COVID-19, I want to thank you for your continued support and your resilience in the face of unprecedented adversity. You all inspire me with the dedication to your communities and your unwavering willingness to pivot - I am truly delighted  to know you! 
 
As we collectively move toward establishing a new normal in terms of our day-to-day operations it is important that you know we are always here for you. If you have any questions or concerns, or simply want to have a chat, feel free to give us a call or fire us off an email. 

I hope you all have a beautiful summer filled with friends, family, and memorable experiences. 


Cooperatively yours,

Faith Gates
Membership & Marketing Manager, NLFC

Our friends over at Co-operatives and Mutuals Canada (CMC) are conducting a 2.5-year study to better understand the impact of the COVID-19 pandemic on the co-operative and mutual sectors in Canada, in collaboration with three Canadian universities. As part of their study, and in an effort to collect as much data as possible, all co-operatives, credit unions, and mutual or co-operative federations/associations dedicated to cooperation and mutuality are invited to participate in this survey: The Impact of COVID-19 on Canadian Co-ops & Mutuals CMC, in collaboration with St. Mary's University International Centre of Co-operative Management, IRECUS, and Cape Breton University are interested in creating a general picture of how the COVID-19 pandemic affected the Canadian co-operative and mutual sector, learning about the measures adopted to survive the crisis and assist members, and identifying the supports offered/received during the pandemic.  We completed their survey earlier this week and it only took us 15 minutes! We hope you will take the time to complete yours, in the interest of cooperative principle #6: Cooperation Among Cooperatives.

UPCOMING CO-PHARM EXPANSION
much needed prescription cost savings are within reach 

In May we reached out to you letting you know that Co-Pharm had officially launched in St. John's and asking for recommendations of local, independently owned, pharmacies in your communities that might be interested in joining the Genrus United team of program pharmacy partners. We received so much positive feedback and are so appreciative of your help! 

We're happy to announce that Co-Pharm is currently working closely with a pharmacy partner in Western Newfoundland, and intends to go live in the area soon.

In the meantime, Co-Pharm has opened their general interest survey once again. This survey is intended to express interest in having this program available in your community and is in no way a commitment to subscribe to the program. We hope you will distribute this survey to your members and staff, the more data collected the easier it will be to execute a broad rollout across our province.

To complete the Co-Pharm General Interest Survey click here. The information gathered will help the Co-Pharm team inform their decision of the next Newfoundland & Labrador community to expand into. 

For more information, questions, or concerns please reach out to Faith Gates, Membership & Marketing Manager, by email or give her a call at (709) 726 9431 during summer business hours. 

DELIVERING BETTER VALUE FOR ALL
merger approved by members & board for Eagle River Credit Union and Leading Edge Credit Union

It's official - as of June 18, 2021 two of our credit union members have received the support of their membership to merge. We're so excited that Leading Edge Credit Union and Eagle River Credit Union will be coming together to strengthen their communities and the sector as a whole! Together, this new credit union will hold close to $320M in assets and will serve more than 17,000 members across Newfoundland and Labrador.

“We are stronger together and better positioned to provide additional value to our members and communities.Together we can implement more cost-effective solutions to improve products and services for members and meet industry challenges, ensuring our credit union is here for years to come.” - Shanti Samaroo, CEO, Eagle River Credit Union

 

The combined credit union is committed to maintaining its network of 11 locations and strengthening digital banking services to bring more choice and convenience to all members. Both credit unions are profitable and growing and have already partnered on successful ventures. However, their boards recognized they would be better able to invest in the large capital and digital initiatives required to serve their members competitively and grow their business over the long term, as well as support their communities as a merged entity.

“Members have spoken, and we couldn’t be more pleased with the result. Thank you to everyone who voted. We look forward to a bright future together and to serving you under the banner of our combined credit union.” - Cory Munden, CEO, Leading Edge Credit Union

The Boards of both credit unions voted unanimously in March 2021 to recommend the merger to members. Members voted from June 14-18. The amalgamation will become official on January 1, 2022.

For more information on this exciting merger, including the overall plan and key dates, we encourage you to visit Better Value For All | Atlantic Credit Unions.