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. 

How We Help

Foam Lake Savings and Credit Union Limited continues to be a community leader through our involvement in sport, culture and recreation, as well as a commitment to local education and health care services. We are a strong proponent of local economic development, and encourage working together for the betterment of our local community and surrounding area.

Our commitment to community is evident with a couple recent examples of very large donations. The new Foam Lake Water Park, which the Credit Union bolstered with a $100,000.00 donation in 2012, opened to the public in August, 2014 and will be a welcome addition to the town’s recreational facilities for many years to come. In 2019, the Credit Union once again provided a very large donation to our local health care services with a $50,000.00 matching donation for upgrades to the digital x-ray equipment. The credit union also plays a key role in assisting in the administration of the annual Foam Lake Recreation Combine Lotto which has been a very important fundraiser supporting our local recreational facilities.

Foam Lake Credit Union awards annually three scholarships to local high school graduates. Scholarship Program Information

In addition to direct financial support in excess of $40,000.00/annually, our employees volunteer more than 2000 hours each year to various local charities, groups and non-profit organizations within our community and surrounding area.