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Access your funds when you need them, while earning interest.


Is this savings account right for you?

 Right for you if:

  • You want to earn interest
  • You want a low-risk savings option
  • You make infrequent withdrawals or transactions

 It might not be right for you if:

  • You use this account for day-to-day transactions, bill payments, transfers and withdrawals

Business Optimum Savings Account Details

$0 monthly fee

Interest rate

$0 - $99,999 balance will earn 1.15%*
$100,000 - $499,999 balance will earn 1.30%*
$500,000 - $999,999 balance will earn 1.40%*
$1,000,000 - $4,999,999 balance will earn 1.50%*
$5,000,000+ balances will earn 2.15%*

2 FREE transactions per month including:

  • in-branch withdrawals
  • in-branch transfers
  • in-branch & electronic bill payments
  • Interac® direct payments
  • pre-authorized payments
  • THE EXCHANGE® & ACCULINK® ATM withdrawals

Deposits to and electronic transfers between your Island Savings accounts are free & unlimited. Free monthly eStatement available in online banking.

Additional fees

Transactions over what the monthly package allows and any additional banking services you use may incur a fee. View Business Service Fees to see our account & service fees.

View Account Terms and Conditions:

Business Member Application—Unincorporated Association (PDF) 
Business Member Application—Sole Ownership, Partnership, Corporation (PDF)
Business Member Application—Joint Venture (PDF)​ 
Business Trust Account Application (PDF)

Included with all business accounts

image of monitor with a padlock on it implying secure access

Pay your bills, check your balance, transfer money and more—anytime and from anywhere.

an incomplete circle with an arrow point surrounding the letters 24/7 implying uninterrupted access

Stay informed on account activity with instant account alerts.


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.

This account calculates interest at one interest rate, based on the tier to which a portion of your Daily Closing Balance corresponds. Subsequent interest rate tier(s) may be used to calculate the interest on the remaining portion(s) of your Daily Closing Balance. This means portions of your Daily Closing Balance may fall within multiple Tiers. The interest calculates daily and is paid at month end. Interest rates and balance tiers are subject to change at any time without advance notice. Refer to for our current rates.

For illustrative purposes only:

Tier 1 $0 - $99,999 1.40%
Tier 2 $100,000 - $499,999 1.55%
Tier 3 $500,000 - $999,999 1.65%
Tier 4 $1,000,000 - $4,999,999 1.75%
Tier 5 $5,000,000 2.40%

Daily Closing Balance = $550,000
This account will calculate interest based on an interest rate of 1.40% on the first $99,999, an interest rate of 1.55% on the balance of $100,000 - $499,999 and an interest rate of 1.65% on the balance of $500,000 - $550,000.

Not sure if this account is right for you?

We can help. Visit a branch or call us at 1-888-597-1083, and let's find the right solution together.

*The interest rate is subject to change without notice at any time.