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Island Savings
Island Savings is a regional financial services brand operating in British Columbia, Canada. It is a division of Tru Cooperative Bank (formerly First West Credit Union), a federally regulated, member-owned financial institution.
The brand primarily serves communities on Vancouver Island and the Southern Gulf Islands, offering personal and business banking, lending, and wealth management services. Island Savings became part of First West Credit Union in 2015 following a merger. In 2026, First West Credit Union continued as Tru Cooperative Bank, with Island Savings retained as a regional trade name.
Island Savings' roots trace back to community-based credit unions on Vancouver Island, including Duncan & District Credit Union, founded in 1951. These institutions were established to provide cooperative financial services to local residents and businesses across the island and Gulf Islands.
Over time, the organization expanded through mergers and regional growth, developing a presence in communities including Nanaimo and Victoria.
In 2013, Island Savings entered into merger discussions with First West Credit Union, another British Columbian cooperative financial institution whose geographic trade area included the Lower Mainland, Fraser Valley, Okanagan Valley, Similkameen Valley, Thompson Valley, and Kitimat. Members approved the merger in 2014, and on January 1, 2015, Island Savings formally joined First West.
Following the merger, First West continued its multi-brand strategy, with Island Savings operating as a regional division alongside Envision Financial, Valley First, and Enderby & District Financial.
In 2021, members of First West Credit Union voted in favour of pursuing federal continuance, enabling the organization to operate under the federal Bank Act while maintaining its cooperative ownership structure. Following regulatory approval and a subsequent member vote, First West formally continued as Tru Cooperative Bank.
As part of this transition, the organization retained its multi-brand structure. Island Savings continues to operate as a regional trade name rather than a separate legal entity.
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Island Savings
Island Savings is a regional financial services brand operating in British Columbia, Canada. It is a division of Tru Cooperative Bank (formerly First West Credit Union), a federally regulated, member-owned financial institution.
The brand primarily serves communities on Vancouver Island and the Southern Gulf Islands, offering personal and business banking, lending, and wealth management services. Island Savings became part of First West Credit Union in 2015 following a merger. In 2026, First West Credit Union continued as Tru Cooperative Bank, with Island Savings retained as a regional trade name.
Island Savings' roots trace back to community-based credit unions on Vancouver Island, including Duncan & District Credit Union, founded in 1951. These institutions were established to provide cooperative financial services to local residents and businesses across the island and Gulf Islands.
Over time, the organization expanded through mergers and regional growth, developing a presence in communities including Nanaimo and Victoria.
In 2013, Island Savings entered into merger discussions with First West Credit Union, another British Columbian cooperative financial institution whose geographic trade area included the Lower Mainland, Fraser Valley, Okanagan Valley, Similkameen Valley, Thompson Valley, and Kitimat. Members approved the merger in 2014, and on January 1, 2015, Island Savings formally joined First West.
Following the merger, First West continued its multi-brand strategy, with Island Savings operating as a regional division alongside Envision Financial, Valley First, and Enderby & District Financial.
In 2021, members of First West Credit Union voted in favour of pursuing federal continuance, enabling the organization to operate under the federal Bank Act while maintaining its cooperative ownership structure. Following regulatory approval and a subsequent member vote, First West formally continued as Tru Cooperative Bank.
As part of this transition, the organization retained its multi-brand structure. Island Savings continues to operate as a regional trade name rather than a separate legal entity.