Credit Union named business of the year

Employees of the Leading Edge Credit Union were all smiles after learning their company was named the 2009 Business of the Year.

The announcement was made by Candace Matthews, managing coordinator of the Port aux Basques and Area Chamber of Commerce at the annual Small Business Week gala dinner on Thursday.

Roger Hardy, operations manager, accepted the award on behalf of the company.

"We couldn't do it single-handedly," he said, adding the credit union's team of employees is responsible for the organization's success.

The credit union has a long history in the area, beginning in the 1980s with two small kitchen credit unions joined forces and incorporated as the Codroy Valley Credit Union.

The new body started with two people and assets of approximately $45,000.

The milestone of $1 million was reached in December 1991. A second branch was added in McKays in 1993 and slow growth of the credit union continued.

In 1999, a third branch was founded in St. George's and a Port aux Basques location was added in 2003.

The Codroy Valley Credit Union merged with its Brook Street counterpart on July 1 to become the Leading Edge Credit Union.

The new entity serves the area from Pasadena to Port aux Basques from its six branches, including the four branches of the Codroy Valley Credit Union and the Brook Street locations in Pasadena and Corner Brook.

Leading Edge has some 5,150 customer-owners and total assets over $60 million.

The credit union was noted for its strong financial performance, community support and activity in organizations such as the chamber of commerce.

The business is involved in the annual Race to the Sea as an organizing partner along with the chamber, as well as numerous other community and charitable activities, such as the Relay for Life, school breakfast programs, Christmas parades, winter carnivals, and more.

The other local business nominated for this year's award was First Choice Convenience in Port aux Basques, owned and operated by Brian and Marie Anderson.

editor@gulfnews.ca