Loyal2Local Challenge

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Last year, Atlantic Credit Unions supported local businesses through the #Loyal2LocalChallenge. By giving all 1,500+ employees $25 to spend at their favourite local businesses, we were able to inject more than $67,000 into the local economy within two weeks.

Once again, Atlantic Credit Unions are calling on all Atlantic Canadians and businesses to show their support for local shops by joining the #Loyal2LocalChallenge from July 15–August 15, 2021.

To get things started, each credit union employee across Atlantic Canada will receive $25 to spend at a favourite local shop in support of the businesses that keep our communities strong. Employees are being asked to post about their experience on social media with the name of the business, tag Atlantic Credit Unions (Facebook, Twitter, Instagram), and share using the hashtag #Loyal2LocalChallenge.

We are asking you to join us in showing love and support for local businesses by participating in the #Loyal2LocalChallenge. Together, we can make a meaningful difference for the businesses that make our communities great places to live, work, and play.

Small businesses are the backbone of our communities:

  • Spending local creates up to 4 times the economic benefits than a big box chain.*
  • If Atlantic Canadians shifted their spending to local by 10%, we would gain: +43,000 jobs, +$2.6 billion in wages, +$219 million in tax revenue.*
  • Small businesses recirculate up to 4.6 times more revenue in the local economy than multinationals.**
  • Small businesses recirculate up to 63% of their revenue back into the local economy compared to 14% for multinational corporations.**
  • Small businesses produce up to 8.4 times more jobs per square foot and up to 8.1 times more revenue per square foot than multinationals.**
*Source: Centre for Local Prosperity
**Source: The Economic Impact of Local Businesses by Civic Economics

We would like to thank our friends at Libro Credit Union, London, Ontario for launching this initiative in 2020 and encouraging Atlantic Credit Unions to join. We're excited to be part of this movement again and support our local businesses.

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Local businesses of all shapes and sizes are the heart of our communities, which is why credit unions believe in supporting local businesses both big and small. Don’t take our word for it: Atlantic Business Magazine’s readers have named credit unions the Best Financial Institution in Atlantic Canada for small businesses. To learn about how we have helped our member businesses, check out their stories below.

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