Our story began in 1946, when a small group of orchard farmers found they could not get the loans they needed from the bank. With 14 original members and no office, we were incorporated on April 29, 1946. We've definitely come a long way since the end of 1946, when we had only 33 members and $205 in assets. Today, Salmon Arm Savings and Credit Union operates as SASCU Credit Union, serving members throughout the Shuswap region. Through our subsidiaries, SASCU Wealth Inc. and SASCU Insurance Services Ltd., we provide a broad range of banking, wealth management, and insurance solutions.
1940s
- 1946 – SASCU is born, on April 29 SASCU was incorporated under BCs Credit Union Act
- 1946 - The first deposit at SASCU was made on May 28th for $41.50
- SASCU first did business out of the hardware department at the Salmon Arm Farmer’s Exchange until moving into the Strudwick Building on Shuswap Street in 1952 (see photo below)
- End of 1946 SASCU had 33 members and $205 in assets
1950s
- 1955-1966 – SASCU operated out of the Strudwick building on Shuswap Street
- 1957 – SASCU hires first full time employee
- 1959 – SASCU offers first chequing services and office is opened in Strudwick block
1960s
- 1960 – SASCU has three staff members
- 1960 – Over 700 members and 25 million in assets
- 1966 – 5 full time people on staff
- 1969 – Tappen and District Credit union joined SASCU
1970s
- 1975 – Eagle River Credit Union merged with SASCU and became the Sicamous Branch
- 1977 – Sorrento branch is born September
- 1977 – A fourth branch at the new Cedarvale Centre in Salmon Arm was open; which consolidated with Salmon Arm Main Branch in February 1982
- All SASCU data was received throughout the day and transmitted via telephone to BC Central Credit Union
- 1979 – SASCU goes “computer” which it allowed it to grow
Staff Meeting in 1985
Photographer unknown.
1980s
- 1980 – August 23, Salmon Arm branch opens
- SASCU offers interbranch banking and the first drive thru teller
- 1980 – New SASCU slogan selected: “We’ll take the time to serve you better”
- 1983 – An ABM “Automated Banking Machine” was installed in Salmon Arm, the first for our community
- 1984 – Anytime banking is born – ATM at SASCU
- 1986 – Cash machine network link established between Credit Unions and Bank of BC
- 1986 – Sorrento Branch moved to its current location in the Sorrento Shoppers Plaza
1990s
- 1996 – SASCU has 15,000 members and $170 million in assets
- 1996 – SASCU Celebrates 50th anniversary “Proud Heritage. Bright Future”
- 80 staff employed
- 1998 – SASCU introduced a new wholly owned subsidiary company: MemberPlus Financial Planning and Investment Services Ltd. (now SASCU Wealth)
- 1999 – introduced Member Direct Internet Banking to our members
2000s
- 2000 – In September, acquired Bank of Montreal branch in Sicamous
- 2001 – SASCU grows to 19,000 members
- 2002 – Wins employer of the year award
- 2005 – SASCU recreation centre is born
- 2006 – SASCU Celebrates 60 years and is recognized as one of BC’s Best Employers
- 2007 – Art sculpture/public art installed – apples represent our 14 pioneer visionaries who came together collectively to form the credit union
- 2008 – SASCU Insurance Services Ltd. opened its doors on October 6th in the Salmon Arm Building
Present
- 2013 – Opened the Uptown Branch in Salmon Arm
- 2018 – The Contact Centre was developed into what is recognisable today
- 2018 – Shuswap Insurance Brokers becomes a division of SASCU
- 2020 – SASCU launches refreshed public website
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