Credit Unions Bring Back #Loyal2LocalChallenge
FREDERICTON – Atlantic Canadian Credit Unions are back with the fourth year of their #Loyal2LocalChallenge. With more than 1,500 Credit Union locations across Atlantic Canada participating in the challenge, they hope to bring attention to and help support local businesses.
The credit unions started their annual #Loyal2LocalChallenge in 2020, following the start of the Covid-19 pandemic. The idea was to support local businesses as they struggled to survive public health lockdowns.
Justin Mury, the director of member experience at Brunswick Credit Union, explains that the #Loyal2LocalChallenge is an initiative that provides all credit union employees across Atlantic Canada with $25 to put back into a local business of their choosing.
This year, the challenge is taking place from July 15 – August 15, with hopes that it will expand further than just credit union employees and into the communities as well.
“There is a general stat out there: if you spend $100 at a local business, about $70 stays in your community. But that same amount spent at a big chain only keeps about $40 in your local economy,” Mury tells Huddle. “We’re leading by example, showing that even small purchases you make daily can impact your village, town, or city and the people who love living there.”
With the #Loyal2LocalChallenge starting in the middle of the Covid-19 pandemic, Mury says that the goal has always remained the same: to support local and to encourage others to do the same.
“Our employees lead by example and are looking for their friends and family to join in,” says Mury. “It’s as simple as sharing their go-to community coffee shop on Instagram, TikTok, or Facebook and tagging them.”
This year, the challenge is expected to inject $85,000 into local businesses. Since their first year, Mury says credit unions have given employees more than $240,000 to put back into the local economy, not including what other community members would have contributed in their participation with the #Loyal2LocalChallenge.
Meghan Reed, a personal banking officer at Fredericton’s NBTA Credit Union, says she has personally been participating in the #Loyal2LocalChallenge for all four years that it has been happening, and absolutely loves it.
“I have always been a firm believer that local is better,” she tells Huddle. “This challenge puts it all at the forefront of our minds to think about where our money is being spent and who benefits from it.”
When asked how she will be spending her own share of $25, Reed said that she will be using it at a local meat market. Reed also says she has seen for herself how the challenge has expanded into the community and encouraged others to shop local.
“I have had multiple meaningful conversations with my close friend about how this movement can positively affect the community,” says Reed.
Both Reed and Mury are encouraging community members to participate in the #Loyal2LocalChallenge and support local. The change is simple and supports not just the local business owners, but also the community in which you live in.
“If you can start with supporting local at breakfast, the next step is easy – it’s lunch,” says Mury.
Ryley Roach is a Huddle student intern, based in Fredericton. Send her your feedback and story ideas: [email protected].
