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WHY CHOOSE US

 
 


What does this mean for your financial wellbeing? 

​It’s simple. Your goals are our goals. We grow when you grow. It’s a partnership, not a transaction.

And here, we believe financial wellbeing is for everyonelearn why.

 

 

YOU​

Our expert financial advice focuses on your evolving financial needs, not making short-term profits for faraway shareholders.

 


YOUR MONEY

​Our profits are reinvested into our membership through free day-to-day banking, low-fee business accounts and great rates.

 


YOUR COMMUNITY​

Enjoy competitive returns knowing your deposits help us support organizations that strengthen your local businesses and community.

 

 
 
2022 Community Support

How we've supported our communities in 2022

Island Savings Community Partnerships & Donations: $73,732

Support for organizations creating good things in our communities including:

  • A Better Life Foundation
  • BC Cancer Foundation
  • Big Brothers Big Sisters Cowichan Valley
  • Canadian Red Cross
  • Friends of Cowichan Public Art Gallery Society
  • Chemainus Harvest House Food Bank
  • Cowichan Brain Injury Society
  • Cowichan Valley Hospice Society
  • Dine & Sip Cowichan
  • Ladysmith Family and Friends Society
  • Ladysmith Library
  • Lake Cowichan Food Bank Society
  • Peninsula Co-Op
  • The Big Shop of Horrors Charity Society


The Full Cupboard Signature Cause: $85,291

Raising food, funds and awareness for food banks serving Island Savings communities.


First West Foundation | Island Savings Community Endowment: $12,500

First West Foundation is the charitable arm of Island Savings, providing grants to organizations which help our communities thrive.

Support to charities promoting resilient & sustainable Island communities including:

  • Clements Centre Society
  • United Way British Columbia


Island Savings Simple Generosity Grants: $1,250

Neighbourhood grants creating a sense of belonging and inclusiveness:
  • Ladysmith Family & Friends Society

Island Savings Community Partnerships & Donations: $191,299

Support to organizations creating good things in our communities including:

  • A Better Life Foundation
  • BC Cancer Foundation
  • Big Brothers Big Sisters Greater Victoria
  • Bridges Women’s Society
  • Canadian Red Cross
  • Chemainus Theatre Festival Society
  • Children’s Health Foundation of Vancouver Island
  • Pacific Sport Program
  • United Way of Greater Victoria
  • Ukrainian Cultural Society of Vancouver Island
  • United Way Southern Vancouver Island
  • University of Victoria
  • Vancouver Island University Foundation
  • Victoria Film Festival
  • Victoria Foundation
  • Victoria Hospitals Foundation
  • Victoria Native Friendship Centre
  • Victoria Pride Society
  • Victoria Youth Empowerment Society


The Full Cupboard Signature Cause: $85,291

Raising food, funds and awareness for food banks serving Island Savings communities.


Island Savings Simple Generosity Grants: $2,500

Neighbourhood grants creating a sense of belonging and inclusiveness:

  • Community International Women’s Day
  • Creekside Community Concert
  • Community Music on the Green
  • South Island Centre for Counseling & Training


First West Foundation | Island Savings Community Endowment: $176,088

First West Foundation is the charitable arm of Island Savings, providing grants to organizations which help our communities thrive.

Support to charities promoting resilient & sustainable Island communities including:

  • 1000x5 Children's Book Recycling Project Society
  • Balfour’s Friends Foundation
  • BC Black History Awareness Society of BC
  • BeaYOUtiful Foundation
  • Burnside Gorge Community Association
  • Edward Milne Community School Society
  • Growing Chefs Society
  • Inter-Cultural Association of Greater Victoria
  • Parkinson Wellness Projects
  • Seniors Serving Seniors Association of BC
  • Silver Threads Service Society
  • South Island Centre for Counseling & Training
  • United Way British Columbia
  • Victoria Compost & Conservation Education Centre
  • Victoria Native Friendship Society

Island Savings Community Partnerships & Donations: $31,079

Support for organizations creating good things in our communities.

  • A Better Life Foundation
  • BC Cancer Foundation
  • Canadian Red Cross
  • Coast Mental Health Foundation
  • Gulf Islands Secondary School SD #64
  • Pender Island Food Bank
  • Pender Hall Community Hall
  • Pender Island Library
  • Ptarmigan Arts Society
  • Salt Spring Island Chamber of Commerce
  • Salt Spring Island Community Services
  • Salt Spring Island Farmland Trust
  • Salt Spring Island Minor Baseball & Softball Association
  • Southern Gulf Islands Community Resource Centre
  • Southern Gulf Islands Neighbourhood House
  • The Circle Salt Spring Education Society


The Full Cupboard Signature Cause: $85,291

Raising food, funds and awareness for food banks serving Island Savings communities.


First West Foundation | Island Savings Community Endowment: $59,500

First West Foundation is the charitable arm of Island Savings, providing grants to organizations which help our communities thrive.

Support to charities promoting resilient & sustainable Island communities including:

  • Gulf Island Marine Rescue Society
  • Gulf Island School District #64
  • Salt Spring Therapeutic Riding Association
  • The Circle Salt Spring Education Society
  • United Way British Columbia


Island Savings Simple Generosity Grants: $1,000

Neighbourhood grants creating a sense of belonging and inclusiveness:
  • Salt Spring Elementary

Island Savings Community Partnerships & Donations: $57,249

Support to organizations creating good things in our communities.

  • A Better Life Foundation
  • BC Cancer Foundation
  • Big Brothers Big Sisters Central Vancouver Island
  • Canadian Red Cross
  • Cedar Farmers Market Agricultural Society
  • Coast Mental Health Foundation
  • Decoda Literacy
  • Nanaimo Ladysmith Schools Foundation
  • Nanaimo Loaves & Fishes
  • School District #68
  • U13 Nanaimo Raiders


The Full Cupboard Signature Cause: $85,291

Raising food, funds and awareness for food banks serving Island Savings communities.


Island Savings Simple Generosity Grants: $2,000

Neighbourhood grants creating a sense of belonging and inclusiveness:

  • Amazing Animals - Insects & Pollinators
  • Reconciliation Theatre presents "True West"
  • Nanaimo Brain Injury Society


First West Foundation | Island Savings Community Endowment: $59,500

First West Foundation is the charitable arm of Island Savings, providing grants to organizations which help our communities thrive.

Support to charities promoting resilient & sustainable Island communities including:

  • Nanaimo Brain Injury Society
  • Nanaimo Community Kitchen
  • Nanaimo Region John Howard Society
  • Nanaimo Science & Sustainability Society
  • The Men’s Resource Centre
  • Wisteria Community Association
  • United Way British Columbia
 

Our commitment to equity, inclusion and diversity

Island Savings's foundational values demand that we, as an organization, actively strive for equity, inclusion and diversity. We believe in cultivating an environment in which every employee, member and community partner—both present and future—is valued for their uniqueness and is empowered to thrive.

Learn more here

 

 

THE ADVANTAGES OF BANKING WITH US

 

 
 
 
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Members vote for directors at board elections, giving you a say in how our credit union operates.

Expert financial advice and local decision making to meet your financial needs as they evolve.

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Free day-to-day personal banking including free Interac e-Transfer®.

24/7 secure online and mobile app banking.

We partner with local organizations to create good things in our communities.

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Your deposits are 100% protected up to any amount by the Credit Union Deposit Insurance Corporation of British Columbia.

Become a member

Reach your financial goals and strengthen your community – that’s banking with purpose. Discover the benefits of belonging to a financial cooperative. Open a Simply Free Account® today or call 1-888-597-1083 to get started.

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Become a business member

Whether you’re a small business starting out or a large established operation, we have the right products, services and advice for you. Let us help you reach new levels of success.

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Learn what it means to be a federal credit union including benefits and risks at keepgrowing.ca. For full details about the changes in deposit insurance, see the Notice Pursuant to the Disclosure on Continuance Regulations.


From November 1, 2021, to November 21, 2021, the members of First West Credit Union voted on special resolutions that, among other things, authorize First West to apply to become a federal credit union under the Bank Act. If First West becomes a federal credit union, it will automatically become a member of the Canada Deposit Insurance Corporation (CDIC) and Credit Union Deposit Insurance Corporation of British Columbia deposit insurance will no longer apply. See attached Notice for further detail on what this change means to your deposits with First West.

 

Explore our products and services

 

 

We believe in the power of partnership, working together to achieve social impact and make a difference in our communities.

 

 
 
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Through our partnership with the First West Foundation, ​$1,709,259 has been granted from the foundation’s 16 endowments and charitable giving campaigns in 2022.

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Our employees spent 2,461 hours helping those in need and building our local communities in 2022. 

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We are on a mission to raise food, funds and awareness for our local food banks. In 2022 alone, we provided 170,582 meals through our Signature Cause, The Full Cupboard.

 

Island Savings, a division of First West Credit Union, acknowledges that we have privilege of doing business on the traditional and unceded territory of Coast Salish, Snuneymuxw, Semiahmoo, Quw'utsun (Cowichan), MÁLEXEȽ (Malahat), Xwsepsum (Esquimalt) and Lkwungen (Songhees), Pacheedaht, Scia’new, Á,LEṈENEȻ ȽTE W̱SÁNEĆ, Stz'uminus, and sc̓əwaθenaɁɬ təməxʷ (Tsawwassen) Peoples.