#Loyal2LocalChallenge Wants To Inject $80,000 into Atlantic Canadian Economy

HAMPTON– Atlantic Credit Union wants to help boost local economies throughout the region with its new employee initiative.

The #Loyal2LocalChallenge will see Atlantic Credit Union employees receive $25 to spend at a local business from July 15 to August 15. Over the month, the company says it will inject over $80,000 into the Atlantic Canada economy.

The challenge will support and encourage the support of local small businesses in the Maritimes.

“From a credit union perspective we realize that local businesses are the heart of our community and are really what drives the local economies and we’re right on the ground with those local economies and local businesses,” said Nigel Wyles, branch manager of Bayview Credit Union in Hampton, NB.

Besides the direct economic impact, the initiative also hopes to push conversations about why it is important to shop locally. When spending their $25 at local businesses, employees are encouraged to post on social media tagging @AltCreditUnions and the local business using the hashtag #Loyal2LocalChallenge.

“So that we can kind of see the impact that it’s having and see some of the businesses that are being supported. Then we are hoping that other people in the area, other local businesses, and other groups that are able to can jump on board and also start supporting our local businesses,” said Wyles.

Wyles said that even as things are opening up and the pandemic is coming to an end, local businesses still need all the support they can get.

“It’s about supporting those that we’re sitting next to at the coffee shop or at the restaurant with and really starting to drive that business,” said Wyles.

Something that Wyles learned in the first #Loyal2LocalChallenge was that for every dollar spent in a local business 68 cents stays in the Atlantic Canadian economy compared to 14 cents that stays in the economy when the same amount is spent at a large chain.

“So for every four employees that spend their $25 here locally you are looking at $68 that stays with our Atlantic Canadian community,” said Wyles.

Wyles has enjoyed seeing where each employee is choosing to spend their money. He has chosen to spend his $25 at Ole Foggy Distillery, which was recently opened in his own town of Hampton, NB.

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Rachel Smith is a summer intern for Huddle. Send her story suggestions: [email protected].