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

North Cowichan is Canada’s hot spot on Wednesday

The Warmland lives up to its name

New Coast Guard radar boosts marine traffic monitoring off B.C. coast

Six radar installations set up for Georgia Strait to Queen Charlotte Strait to Prince Rupert

Chef claims $1-million with lottery ticket purchased in Ladysmith

A Vancouver woman is $1-million richer after purchasing a winning Lotto Max… Continue reading

Ladysmith resident spots cougar roaming through backyard

The Walkem Road Block Watch is alerting residents after a cougar made… Continue reading

B.C. to serve Riot Brewing’s dark mild to visiting dignitaries

Just in time for their second anniversary celebration, the folks at Riot… Continue reading

VIDEO: People with diabetes meet their alert dogs

A diabetic alert dog is trained to detect low blood sugar in people who have Type 1 diabetes

Vancouver Island remembers

Important stories shared as Islanders salute those who made the greatest sacrifice

Hunter who saved B.C. man pinned inside smashed truck says ‘God was sending me to him’

Sayward man describes chance discovery of Duncan Moffat, 23, in northern Vancouver Island woods

Road-weary Canucks thumped 6-2 by Wild

Vancouver hosts the Montreal Canadiens on Saturday

Toronto private school didn’t report alleged sexual assault to police

Police say a sexual assault at an all-boys Catholic institution was not reported to them

China says butt out; Canada calls for release of “arbitrarily” detained Muslims

A Chinese foreign ministry spokeswoman accused Canada’s envoy of going beyond their diplomatic roles

Dead Saskatoon tattoo artist’s skin removed and preserved

The skin was removed in honour of the well known artist’s work

B.C. Realtor suspended after helping intern forge note about sick grandma

Vancouver real estate agent Jaideep Singh Puri has to pay fine, take ethics course

Offensive Facebook post by Okanagan Conservative riding sparks outrage

Post taken down after Conservative MP in neighbouring riding condemns it and demands removal

Most Read