How To Be A Player
 Greg Gerbula
Crawford Bay
General Manager
Kooteney Springs Resort
Nelson & District Credit Union
"When it came to financing our golf resort's expansion, our local credit union was more competitive-and cooperative-than the big banks."
For golf fans and vacationers, it doesn't get much better than this. Situated in one of Canada's most scenic areas, surrounded by mountains along the crystal shoreline of Crawford Bay on Kootenay Lake, Kokanee Springs Resort offers travelers from across Canada and the States one of the country's finest championship 18-hole golf courses. An elegant lodge with 56 luxury rooms and eight suites overlooks the 12th fairway.
Since 1968, the resort's reputation and attendance has continued to grow. Last year, Kokanee Springs' General Manager, Greg Garbula, knew it was time to expand. He thought that the large national bank managing most of Kokanee's finances would help them overcome any obstacles. Instead, he found himself swinging in a sandtrap.
"We'd always had a good relationship, but there had been a change in management, with people from out-of-province," Greg explained. "They were also going through a lot of changes in the way they did business."
Expecting the bank to take their long-standing relationship into consideration, Garbula was disappointed. Bureaucracy replaced the spirit of partnership. "They offered us a deal that was pretty complicated, but we signed. Then they changed the terms of the deal."
So Greg looked south of the border, to a large international bank with a division specializing in golf courses. "But they came back with a package of clauses and sub-clauses that was inches thick."
Then Garbula thought about the local branch of the Nelson & District Credit Union. "They do our resort's payroll, and we've always had a strong relationship."
Even though he thought they might be too small to handle Kokanee's needs, it seemed worth a shot. The Nelson & District Credit Union came out swinging. Partnering with two other regional credit unions, they offered Garbula a winning bid, one that substantially lowered his handicap.
"They were hands-on, personable, helpful, and accessible; and able to advance us funds on a level playing field. We came in on budget."
The Nelson & District Credit Union hit a hole in one, proving once again then when it comes to business, credit unions are players you can count on.
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