LDCU has plans to expand after buying properties

Credit Union purchases neighbouring properties for future expansion.

Editor:

The board of directors for Ladysmith and District Credit Union (LDCU) is pleased to announce the purchase of properties adjacent to our current building at the corner of First Avenue and Roberts Street.

Several months ago, the board of LDCU became aware that these properties neighbouring our offices were about to come onto the real estate market. The properties involved were two commercial premises with two residences above, and a house adjacent to Queen’s Park.

Recognizing the opportunity, LDCU negotiated to purchase all three properties for future needs. The Credit Union carefully researched the prospect and determined that the return on investment would defray the cost of purchasing the properties in the short term. Longer term, the Credit Union will be developing a plan for expansion, utilizing the properties in a phased and measured way.

This purchase reinforces our published long-term vision that LDCU remains the cornerstone Credit Union for our community. Serving a growing membership and community requires ever-increasing space.

We understand this change in ownership has caused some concern to existing tenants and would like to take this opportunity to reassure the community that existing businesses have in no way been adversely affected by the Credit Union assuming ownership.

We anticipate development of more concrete plans over the coming months and years and will certainly be a good neighbour and provide all the tenants with plenty of notice of any anticipated change.

Building on our proud history as a community Credit Union, our passion is to have a positive impact on our members, neighbours and community. The board of directors feels very fortunate to have secured these properties for the good of the Credit Union and to continue its leadership role well into the future of our growing community.

Tim Richards

Secretary, board of directors

Ladysmith and District

Credit Union

 

Just Posted

Ladysmith mayor considered running federally, decided against it

Aaron Stone filed papers with Nanaimo-Ladysmith NDP to be vetted as a candidate

Roundabout plans at River Road in Chemainus moving forward

Land issues still being resolved before details revealed to the public

Spring Fling

Fuller Lake Skating Club members showcase their talents in seasonal pop concert

Nanaimo SAR, first responders execute rope rescue in Cassidy area

Person said to have fallen down an embankment in area of Riverbend Road

North Cowichan appeals new permit for expansion at Chemainus composting facility

Province allows composting facility to expand processing

VIDEO: The ‘most cosmopolitan’ of butterflies could migrate to B.C.

The painted lady butterfly will likely arrive this summer from Southern California

Prime Minister Trudeau comes campaigning in Nanaimo

A day after announcing a May 6 byelection date for Nanaimo-Ladysmith, Justin Trudeau visits riding

Candidates hit the campaign trail as Nanaimo-Ladysmith byelection called

Trudeau announces that voters will go to the polls May 6

Inspirational Vancouver Island youngster dies after battle with brain cancer

Kaiden Finley ‘was seriously the strongest 11-year-old’

Is it a homicide? B.C. woman dies in hospital, seven months after being shot

Stepfather think Chilliwack case should now be a homicide, but IHIT has not confirmed anything

Indecent caller handed 18-month conditional sentence

Vancouver Island man pleaded guilty to making indecent phone and video calls to women across B.C.

Sources say Trudeau rejected Wilson-Raybould’s conservative pick for high court

Wilson-Raybould said Monday “there was no conflict between the PM and myself”

First Nations public art piece stolen in Nanaimo

Spindle Whorl went missing over the weekend, according to Nanaimo RCMP

Father-son duo at B.C. Children’s Hospital helps new dads fight depression

The pair teamed up to introduce the only known research-based mindfulness workshop for new dads

Most Read