G&F Financial Group:
Providing Unconventional Solutions for Unique Needs
by Megan Battersby
To prosper together as a community, we need to look out for one another and adapt as necessary to challenging situations. During the Great Depression, a small group of dedicated and resourceful community members joined together to provide funding for local residents and fishermen, who were unable to receive funding through traditional means. This formed the beginnings of G&F Financial Group, now one of the top ten largest Credit Unions in BC.
Prospering for over 70 years, G&F is still guided by its founding principles of philanthropy and community, and continues to offer assistance and guidance to others. The Credit Union believes that a financially literate community means a strong, thriving one, and it is their passion to educate and help others, empowering them with the resources to make informed financial decisions for a richer, fulfilling life.
Knowing firsthand the challenges that come with unconventional situations, G&F can offer unique solutions for those who might not traditionally receive help from larger financial institutions. They have therefore established a New Immigrant Mortgage Program which is designed for borrowers who are new to Canada and who may not qualify for mortgages under typical guidelines. With this program, standard income verification and debt servicing ratios are not required. Instead, the applicant only needs to prove that they have sufficient cash resources to service the debt. This non-traditional approach makes it much easier for new immigrants to receive mortgage funding.
The New Immigrant Mortgage Program is just one example of how G&F takes a flexible approach to serving its members. They also offer free seminars on a variety of financial topics, raise funds for local charities, and sponsor a multitude of community events and initiatives.
G&F Financial Group proudly provide everyday banking services, but their passion lies in educating and empowering our members to plan, save, borrow, protect, and dream bigger. It is their priority to ensure that members gain the financial clarity and the direction they need to achieve their financial goals.