The Voice of Canadian Credit Unions
Community Development / Education /  •

Coast Capital Savings gifts $1 million to SFU

This past May, Coast Capital Savings Credit Union, (543,000 members, $15 billion in assets) gave $1 million to Simon Fraser University in Burnaby, BC to help support the university’s business incubator program, which has been renamed the Coast Capital Savings Venture Connection. The $1 million donation, which will support the program over a five-year period, is part of Coast Capital Savings’ mandate to build a richer future for youth.

Starting in 2008, with Coast Capital Savings as its first corporate sponsor, the program has offered entrepreneurship training services and opportunities for students, faculty, staff and alumni. The funding helped provide entrepreneurial services to more than 6,000 participants and about 500 student teams. With support from mentors-in-residence, the program has led to 170 start-up ventures.

Previous to this latest donation, Coast Capital Savings had given $125,000 in 2008 as seed investment, then $750,000 in 2011.Coast Capital Savings CEO Don Coulter said in a media release that “the leadership shown by SFU in supporting youth entrepreneurship and innovation makes this partnership a natural fit for us. We are delighted to invest $1 million…and follow the success of the enterprises that flourish with the support of the program.” ◊