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Navigating challenging times through purpose

Periods of prolonged uncertainty, such as what we’ve encountered in recent years, have a way of pushing us to prioritize and focus on what’s truly important under the circumstances. For the team at First West Credit Union, the things that matter are ultimately driven by our purpose, by the reason we exist: to help members and communities thrive. This is the beacon that always cuts through the fog of uncertain times, the North Star that enables us to know in which direction to head.
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Shawn Neumann, Board Chair | Launi Skinner, CEO

Performance dashboard

Key financial strength metrics—for detailed analysis of our financial results, see Management's Discussion & Analysis.


Grew by $0.6 billion or 5.0% in 2022, compared with an increase of 4.0% in 2021.


Grew by $1.1 billion or 10.5% in 2022, compared with 11.2% in 2021.


Increased by $388.5 million or 3.5% in 2022, compared with 4.3% in 2021.

Wealth Assets Under Administration

Decreased by $65.4 million or 1.6% in 2022, compared with a 25.9% increase in 2021.

Loans by Lending Sector (%)

Stable portfolio product mix across commercial and retail loan books in 2022.

Total Funding Composition (%)

Strong funding and liquidity profiles, with deposits totaling $11.4 billion, an increase of 3.5% in 2022, compared to 4.3% in 2021.

Profit ($M)

Profit for the year of $37.0 million was $29.9 million or 44.7% lower in 2022, compared with $66.9 million in 2021.

Revenue Mix ($M)

Continued strong diversification of interest, fee, commission and other income in 2022.

Total Assets and Wealth Assets Under Administration ($B)

Including wealth assets under administration, First West's total assets grew to approximately $17.4 billion, an increase of 3.4% from $16.9 billion in 2021.

Credit Rating | Long-Term

Investment Grade Credit Rating (DBRS Morningstar). Long-term issuer rating.

Credit Rating | Short-Term

Investment Grade Credit Rating (DBRS Morningstar). Short-term issuer rating / short-term instruments.

Strong Regulatory Capital Ratio*

Capital buffer of $432 million relative to minimum regulatory requirement of 8.0%. (*as defined by BCFSA)
The high quality of our financial performance amid economic turbulence reflects the trust we’ve earned from our members by always working in their best interest.
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Mark Moreland, Chief Financial Officer

Building a more sustainable credit union for future generations

Leading ESG research, ratings and data firm Sustainalytics has rated First West as 16.7 low risk of experiencing material financial impacts from ESG factors. First West’s ESG Risk Rating places our credit union among sustainability leaders in the banking industry.

Learn more on page 9 of the 2022 annual report.

* Copyright ©2023 Sustainalytics. All rights reserved. This website contains information developed by Sustainalytics ( Such information and data are proprietary of Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at