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Our History | 72 years

Save vs. Spend in Tough Economy - 1960s

Rendering of proposed renovation to the North Shore Credit Union Head Office

The economic climate was unsettled. High inflation rates and massive union strikes led many North Shore residents to unemployment. Yet despite this, the City and the District banded together to continue to expand civic infrastructure. They completed several major projects including the Upper Levels Highway, Lions Gate Hospital, both municipal halls, public libraries and community recreation centres.

North Vancouver

North Shore residents were reluctant to borrow money

The unsteady economy meant belt-tightening for many people. North Shore residents became reluctant to borrow money, choosing instead to save what funds they had available. By 1962 North Shore Community Credit Union had over $1 million in shares and $1.5 million in assets. To balance the savings influx with attracting new business and increasing loan activity, North Shore Credit Union began expanding our offerings. We started selling Term Deposits, we partnered with Maple Leaf Travel to provide discount charter flights to members, and we sponsored a financial talk radio show called Voice of Vancouver.

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