Business View Magazine May 2023

188 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 5 more financial proof than a T4 and tax returns. Bow Valley Credit is leaning heavily toward the introduction of the gold back initiative, and there has been a significant uptake in interested parties. Launching four weeks prior to this interview, the bank has had thousands of phone calls and internet impressions, which indicates that the company is onto a good thing. On a larger scale, Bow Valley Credit Union hopes more credit unions take up the challenge and consider backing their capital with precious metals. As a whole, Bow Valley Credit Union believes that society has positioned itself as a light switch between inflation and deflation. “We hope we’re starting a movement towards sound money, honest money and getting away from all this currency printing that we think is very detrimental to our society,” says Oland. However, if the government wants to address inflation, they need to stop spending, which, in Bow Valley Credit Union’s opinion, will trigger a deflationary event. And no one can stop and start the system because the economy can’t take the hit. This means that, at the moment, this cycle is indefinite. And with green bills proposed that will reducing carbon will only make the problem worse. Moving forward, Bow Valley Credit Union knows it’s onto a winning idea. Growth is at 11%, outpacing the other credit unions in the province. This growth has been attributed to the Gold Backed Initiative. “There’s a lot of interest in what we’re talking about, and we’re trying to get the message out. Compared to last year, we’ve had 23 times more growth than other Alberta credit unions and 27 times the amount of Canadian Credit Unions. So, we think we’re onto something here,” concludes Oland. PREFERRED VENDOR/PARTNER n HMC Lawyers www.hmclawyers.com