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.

young boy and grandpa building a wooden toy plane

It's worth it, to all of us.

We are a financial cooperative.

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 everyone—learn 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.

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

Kendall Gross, President

2022 Community Support

How we've supported our communities in 2022

Cowichan Valley

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

Victoria

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

Salt Spring & Area

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

Nanaimo & Area

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

MEMBER-OWNED AND RUN

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

TRUSTED ADVICE

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

KEEP MORE MONEY IN YOUR WALLET

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

ANYWHERE, ANYTIME BANKING

24/7 secure online and mobile app banking.

BUILDING RESILIENT COMMUNITIES

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

100% DEPOSIT GUARANTEE

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.

OPEN YOUR ACCOUNT

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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.

LEARN MORE

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We're working to become a federal credit union

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

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Credit Cards

Mortgages & Loans

Investment Solutions

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

Community Partnerships

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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Do Some Good

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

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The Full Cupboard

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.

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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.

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WHY CHOOSE US

It’s worth it, to all of us.​​

It's worth it, to all of us.

What does this mean for your financial wellbeing?

YOU​

YOUR MONEY

YOUR COMMUNITY​

How we've supported our communities in 2022

Cowichan Valley

Island Savings Community Partnerships & Donations: $73,732

The Full Cupboard Signature Cause: $85,291

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

Island Savings Simple Generosity Grants: $1,250

Victoria

Island Savings Community Partnerships & Donations: $191,299

The Full Cupboard Signature Cause: $85,291

Island Savings Simple Generosity Grants: $2,500

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

Salt Spring & Area

Island Savings Community Partnerships & Donations: $31,079

The Full Cupboard Signature Cause: $85,291

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

Island Savings Simple Generosity Grants: $1,000

Nanaimo & Area

Island Savings Community Partnerships & Donations: $57,249

The Full Cupboard Signature Cause: $85,291

Island Savings Simple Generosity Grants: $2,000

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

Our commitment to equity, inclusion and diversity

THE ADVANTAGES OF BANKING WITH US

Become a member

Become a business member

WE'RE HERE FOR YOU

GET $1,000 CASH BACK^†

It’s worth it, to all of us.

YOU

YOUR COMMUNITY