Complete Annual Report
Strength and stability in a disruptive year
During uncertain economic times, First West maintained a dedicated focus on members and communities and achieved strong 2020 financial results.VIEW THE COMPLETE ANNUAL REPORT
2020 ANNUAL REPORT
A MESSAGE FROM OUR BOARD CHAIR & CEO
Character members can count on
Shawn Neumann, Board Chair | Launi Skinner, CEO
Wealth Assets Under Management
Loans by Lending Sector (%)
Total Funding Composition (%)
Revenue Mix ($M)
Total Assets and Wealth Assets Under Management ($B)
Credit Rating | Long-Term
Credit Rating | Short-Term
Strong Regulatory Capital Ratio*
More 2020 highlights
We continued to produce real value that meets the evolving needs of members, communities and employees.
Transforming the banking experience
In 2020 we introduced members to Finley, our AI-powered digital assistant who is available 24/7 to offer advice, product and service information, and guidance on navigating our division websites and digital banking platforms.
We also launched Google Pay™ and Samsung Pay across all our brand divisions, enabling mobile in-app and tap payment with Member Card® debit cards.
Supporting others when it’s needed most
In the summer of 2020, our Get a Meal, Give a Meal campaign provided creative incentives for members to continue supporting local businesses and food banks. For each order of $50 or more at participating member-owned restaurants, members received a $25 discount and we donated $5 to a local food bank. Our efforts helped to generate more than $70,000 in business for local restaurants and $8,130 for local food banks, a total equivalent to 24,390 meals for those in need.
Empowering employees to succeed
In March 2020, within just a few days of B.C. declaring a state of emergency, we leveraged our partnerships with industry-leading technology providers to transition many employees to serve members securely and safely from home.
Through the year we also expanded virtual training options and continued building our ability to provide expert advice to members when 120 of our personal and business banking advisors began the industry-leading Personal Financial Planner® (PFP) training program.