Our Story

Foam Lake Savings and Credit Union Limited was founded on May 21, 1941. It was organized like many others in this era when depression and drought devastated the economy. Bank branches were closed in many small rural communities and it was evident that some form of self help co-operation was needed. A group of local volunteers spent many hours canvassing the area for seed capital and explaining the concept to local citizens, many of whom were skeptical. When the Credit Union obtained charter No. 61 in 1941, it had 62 members and total assets of $399.00. Funds were very limited and all positions including secretary and treasurer were on a volunteer basis.

People continue to be Foam Lake Savings and Credit Union’s most important asset.  The success that our organization has enjoyed for many years can be directly attributed to a very competent, loyal and dedicated staff base, supported by a group of visionary Board of Directors. 

The Next Chapter

As of January 1, 2026, Foam Lake Credit Union officially became part of Prosperity Credit Union, a growing member owned cooperative built by and for people in rural Saskatchewan. Prosperity is genuinely proud to welcome the Foam Lake community into the Prosperity family. By saying yes to this transition, you have become part of a larger movement focused on strong local communities, cooperative values, and putting members first. Together, we are building a credit union that is here for today, tomorrow, and the generations that follow.

Prosperity Credit Union is rooted in rural Saskatchewan. Our branches are in communities like yours, our
employees are your neighbours, and our purpose is simple -  to help people and communities
prosper. While January 1 marked our legal amalgamation date, this is just the beginning of the journey.
Integration takes time and we are committed to keeping you informed every step of the way. For now,
think of this as joining forces, not changing everything overnight.