New Kootenay-focused investment fund seeks members

Free public launch sessions are scheduled from Nov. 9 to Dec. 14 in various communities

Two new investment funds aimed at boosting local economies in the Kootenays are looking for members.

Members of the East Kootenay Columbia Community Investment Co-op and the West Kootenay Boundary Community Investment Co-op have been working for much the past year on a business plan and incorporation documents.

They aim to pool their investments to support local projects such as affordable housing, renewable energy, sustainable agriculture and food production, small business development, technology, and community economic development.

“We are seeking individual and corporate investors who wish to diversify a portion of their investment portfolios locally, and who want to make an impact in the communities where they live,” said Eden Yesh, manager of the Invermere branch of Kootenay Employment Services and the fund’s project manager.

READ MORE: Legal pot will force big adjustments to Kootenay economy, group says

In 2015, those who filed tax returns in the East and West Kootenay invested more than $90 million and $60 million, respectively, into RRSPs – all of which left the region, the funds’ organizers said in a news release on Monday.

If just five person of those investments were redirected into local business financing, that would mean $4.5 million per year in the east and $3 million in the west in direct economic development stimulus, they said.

Free public launch sessions are scheduled from Nov. 9 to Dec. 14 in Sparwood, Fernie, Cranbrook, Kimberley, Invermere, Radium, Golden, Revelstoke, Grand Forks, Trail, Castlegar, Nelson, Silverton, Nakusp and Kaslo.

Membership is open to individuals, corporations, governments and First Nations.

To apply or get more information on a launch session, go to www.EastKootenayColumbia.com or www.WKBInvestmentCoop.com.

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Jumbo Valley to be protected, ending decades-long dispute over proposed ski resort

Development rights permanently retired for site of proposed year-round ski resort west of Invermere

Matt Andersen to tear it up in Cranbrook

Canadian singer, songwriter and guitarist showcasing new album at February concert at Key City Theatre

It happened this week in 1913

Jan. 12 -18: Compiled by Dave Humphrey from the newspapers at the Cranbrook History Centre and Archives

COTR Avalanche back in action for 2020

The College of the Rockies Avalanche volleyball teams are back in action… Continue reading

RCMP, Conservation officers, locals attempt to save elk in frozen river

Local emergency services personnel teamed up with rural residents to try and… Continue reading

VIDEO: Cold snap brings ideal conditions for Okanagan icewine

Take an inside look at how icewine is made

Horgan cancels event in northern B.C. due to security concerns, says Fraser Lake mayor

The premier will still be visiting the city, but the location and day will not be made public

B.C. landlord sentenced to two years in jail for torching his own rental property

Wei Li was convicted of intentionally lighting his rental property on fire in October 2017

PHOTOS: Eastern Newfoundland reeling, search underway for missing man after blizzard

More than 70 centimetres of new snow fell overnight, creating whiteout conditions

Prince Harry, Meghan to give up ‘royal highness’ titles

‘Harry, Meghan and Archie will always be much loved members of my family,’ says Queen Elizabeth II

B.C. society calls out conservation officer after dropping off bear cub covered in ice

Ice can be seen in video matted into emaciated bear cub’s fur

Calls for dialogue as Coastal GasLink pipeline polarizes some in northern B.C.

Coastal GasLink is building the 670-kilometre pipeline from British Columbia’s northeast to Kitimat on the coast

Closed mills, housing surge support a positive forecast for lumber industries

B.C. lumber producers have closed mills accounting for 18% of province’s capacity, RBC report says

Good Samaritan pays part of rent for B.C. woman facing eviction in can-collecting dispute

Zora Hlevnjak, 76, supplements her pension by collecting cans and receiving public donations

Most Read