RR branch of Credit Union turned five Sunday

Ken Johnston

This week marks the 5th Anniversary of the opening of the Rainy River Branch of the Northern Lights Credit Union.
RR NLCU Manager, Orest Gushulak, said the five years have been good ones, especially when one looks at where they were before the new branch opened to where they are today.
“We have seen our assets grow by more than ten fold and now offer a range of full services,” said Gushulak at last Friday’s annual Credit Union day.
Gushulak used to manage the former Rainy River Credit Union, which he said was basically a savings and small personal loans operation. Then the RRCU merged with the Northern Lights Credit Union of Dryden.
“At first we were trying to merge with Fort Frances Credit Union, but then they joined Dryden and we followed their lead,” said Gushulak.
The new branch was expected to be profitable within five years. That goal was met much earlier and it continues to grow.
Gushulak attributes much of their success to the vision of the NLCU that has made them leaders in the community. Not only were they the first financial institution to offer Automated Teller Machine services, but they also provide commercial account services.
“We are now a lending branch that has grown from 200 members (with RRCU) to over 1,000 now,” said Gushulak. He noted that joint accounts between spouses are counted as one member.
The RR NLCU branch began with 2.5 employees. Now it has grown to support 3 full time jobs and Gushulak sees the growth taking them to another level in the not to distant future; a level that may require another half-time position.
The credit union also prides itself on being a part of the community. They contribute regularly to local charities through their weekly dress down day and also give to community groups hosting events.
Gushulak sees a bright future for Rainy River’s credit union and would love to see the community grow even more. As for the recently announced merger with a Thunder Bay credit union, he sees that as a real plus for local members. “Many kids from here go to school in Thunder Bay and will be able to access their accounts much easier.”
Gushulak said that the merger will not make the NLCU so big that it will treat its customers just like another number. “We pride ourselves on knowing our members and will continue to do so.”