Chamber creates new Endowment Fund to support local Students
Chamber creates Endowment Fund to support local Students
FOR IMMEDIATE RELEASE
Cranbrook, BC, April 17, 2019 – The Cranbrook Chamber has approved the creation of a new Cranbrook Chamber endowment fund with the Community Foundation of the Kootenay Rockies with an initial investment of $10,000. The fund will provide an annual scholarship to a local student pursuing education at the local College of the Rockies.
While the initial start up investment of $10,000 will go into perpetuity, with interest generated from the investment to be used each year, the Chamber will continue to raise funds throughout the year with their “Bursary Draws” to help top up the annual amounts given to students. The goal is to provide a minimum of a $1000 scholarship each year, ongoing into perpetuity.
"The Community Foundation of the Kootenay Rockies is very pleased to be working with the Cranbrook Chamber of Commerce to establish this permanently invested endowment fund. This fund will provide an annual, perpetual bursary to support education and/or training for local, emerging business leaders. The Community Foundation applauds the Chamber's foresight and leadership in establishing this new legacy fund." – Lynette Wray, Executive Director of the Community Foundation of the Kootenay Rockies.
Chamber staff brought forward the recommendation to the Chamber Board in early January and after a presentation from the Community Foundation of the Kootenay Rockies in March, the Chamber Board asked the Membership for their feedback during the March 20th luncheon and AGM. “We were excited to see our members were on board with our idea and supported us in the creation of this fund.” Says Kristin Parsons, Chamber Executive Director.
The fund will be created this year and the first scholarship will be granted in June 2020. “The Chamber has a long history of supporting the business community and the development of this fund allows us to further support our future leaders of tomorrow, as well as create a legacy for the Chamber and for our business community.” Says Jason Fast, Chamber President.
About the Cranbrook Chamber of Commerce
The Cranbrook Chamber of Commerce has been delivering business advocacy support, education, networking and benefits to the Cranbrook and area since 1910, making them a valued and respected champion of business and a positive contributor to our community.
The Cranbrook Chamber of Commerce is the only professional organization representing the entire depth and breadth of the Cranbrook business community. With over 450 members spanning the entire cross section of the local economy the Chamber is in a strong position to Build Business & Community. Through an engaged membership the Cranbrook Chamber of Commerce can strategically direct policy and lobby to ensure a successful and sustainable future for the local economy, leading to a healthier business climate in Cranbrook.
Kristin Parsons, Executive Director
Cranbrook Chamber of Commerce
T: 250 426 5914