When groundbreaking took place for the Oyster Bay development at Stz’uminus First Nation in late June, details emerged of the project’s first tenant – the Coast Salish branch of the Ladysmith & District Credit Union (LDCU).

“We are really excited about the relationship we are building with the LDCU,” Chief John Elliott said. “Our community has needed these kinds of services for a long time now and it’s all starting to happen.”

John De Leeuw, the credit union’s chief executive, said the 1,200-square-foot facility on the Trans Canada Highway north of Ladysmith, would be called the Coast Salish branch of LDCU. He said the credit union philosophy is a good fit for the emerging economy at Stz’uminus.

LDCU will be the anchor tenant of the first phase of the 70,000-square-foot commercial complex. Stz’uminus also has long-term plans to build residential and assisted-living housing as well as a hotel.

Many Stz’uminus people are already members of LDCU and De Leeuw said he hopes more from the nation as well as its employees will join. He said LDCU hopes to offer a range of financial literacy services including regular articles in The Sentinel.

The groundbreaking ceremony was coordinated by Coast Salish Development Corporation, the economic development arm of Stz’uminus nation.