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WHY CHOOSE US

 

It’s worth it, to all of us.​​

We are a financial cooperative.

You may have heard of cooperatives. Some of them sell sporting goods, some of them sell groceries or fuel. All of them are about people achieving more together than they can on their own. As a financial cooperative, we’re like that too. 

​​When you join our credit union you are a member, not a customer, and that makes all the difference. Our members are our owners and have an equal say in how our credit union operates, no matter their balance. ​​

Our members empower us to put people before profits and work in their true interests. By providing world-class banking services, the best financial advice in Canada and an approach that centres around our members, we simplify lives, helping members and communities thrive.​​

 


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.

 

 

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.

 

2021 Community Support

How we've supported our communities in 2021

Community Response Fund Grants: $53,200

  • Balfour's Friends Foundation
  • Birthing Families Matter Society
  • Connections Place
  • Silver Threads Service
  • Clements Centre Society: $15,200
  • Nourish Cowichan Society


The Full Cupboard Signature Cause: $12,145

  • Chemainus Harvest House Society
  • Lake Cowichan Food Bank Society
  • Mill Bay CMS Food Bank
  • Cowichan Valley Basket Society Food Bank


FWF Island Savings Community Endowments: $45,000

  • 1000x5 Children's Book Recycling Project Society
  • Take a Hike Youth at Risk Foundation
  • Cowichan Green Community Foundation
  • Clements Centre Society
  • Byte Camp Education Society


2021 Year of Simple Generosity Donations: $64,125

Community Response Fund Grants: $45,500

  • Balfour's Friends Foundation
  • Birthing Families Matter Society
  • Connections Place
  • Crisis Intervention & Public Info Society of Greater Victoria
  • Leadership Victoria
  • Saanich Neighbourhood Place
  • Silver Threads Service


The Full Cupboard Signature Cause: $4,557.33


Island Savings Community Partnerships

  • Victoria Hospitals Foundation: $120,000
  • BBBS Greater Victoria: $15,000


FWF Island Savings Community Endowments: $51,200

  • 1000x5 Children's Book Recycling Project Society
  • Byte Camp Education Society
  • Camp Kerry Society
  • Greater Victoria Eldercare Foundation
  • Victoria Brain Injury Society
  • Victoria Women's Transition House


2021 Year of Simple Generosity Donations: $62,450

Community Response Fund Grants: $17,000

  • Gulf Islands School District
  • Salt Spring Literacy Society
  • Salt Spring Therapeutic Riding Association


The Full Cupboard Signature Cause: $2,858.50

  • Salt Spring Island Food Bank


2021 Year of Simple Generosity Donations:

  • Thriving Communities: Island Savings #CommentsOfKindness
  • Thriving Minds: Island Savings #LearningPotential
  • Phoenix Elementary Salt Spring Island
  • Salt Spring Literacy Society
  • Salt Spring Island Minor Baseball & Softball Association

Community Response Fund Grants: $42,000

  • Balfour's Friends Foundation
  • Birthing Families Matter Society
  • Comox Valley Transition Society
  • Connections Place
  • Silver Threads Service
  • Ladysmith Resources Centre Association
  • Ladysmith Library programming


The Full Cupboard Signature Cause: $3,817

  • Ladysmith Foodbank
  • Nanaimo Loaves and Fishes Food Bank


Island Savings Community Partnerships

  • Vancouver Island University
  • BBS Central Vancouver Island: $15,000
  • Pacific Sport (sport programming for vulnerable youth): $15,000
  • Nanaimo Loaves and Fishes Food Bank: $15,000


FWF Island Savings Community Endowments: $52,000

  • Byte Camp Education Society
  • Camp Kerry Society
  • Frontier College
  • Nanaimo Literacy Association
  • Nanaimo Region John Howard Society
  • Take a Hike Youth at Risk Foundation


2021 Year of Simple Generosity Donations: $67,600

 
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Learn what it means to be a federal credit union including benefits and risks, voting details and the proposed bylaws at keepgrowing.ca.

 

 

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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†The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, fully guarantees all BC credit union deposits. Credit Union equity shares and investments such as mutual funds or RSP equity plans are not covered by deposit insurance.

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

 

Island Savings President, Kendall Gross



“Since 1951 the team at Island Savings has been helping local families and businesses succeed through a cooperative approach to banking that keeps resources right here in our communities. We help our members thrive by providing expert financial advice, market-leading digital services and remarkable relationship-based experiences. Our members can bank when, where and how they want. Giving back to our communities is also a key part of who we are—we’re proud partners with many local community organizations and causes, and together we’re making Vancouver Island and the Southern Gulf Islands an even better place to live, work and play.”

 

Kendall Gross, President

 

​Island Savings in the community

Our Make a Difference Days encourage employees to volunteer in their communities with local non-profit agencies.  We're boots on the ground, supporting a wide variety of community projects.  Since 2007, we've taken part in 597 projects and served 10,936 hours.

​Our commitment to equity, inclusion and diversity

Island Savings' 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.

 

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, ​$1,719,391 has been granted from the foundation’s 16 endowments and charitable giving campaigns in 2021.

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Our employees spent 1,158 hours helping those in need and building our local communities in 2021.

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We are on a mission to raise food, funds and awareness for our local food banks. In 2021 alone, we provided 239,416 meals through our Signature Cause, The Full Cupboard.