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Handling today’s challenges while building for tomorrow’s

It’s been said that culture eats strategy for breakfast. It’s a provocative statement and though it’s not downplaying strategic planning, it highlights a vital truth that great organizations and leaders know: success ultimately comes down to how your team members work together—what’s often called “corporate culture.” We begin our message on this point because late in 2023, First West Credit Union received its first-ever award recognizing the excellence of our culture.
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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 in the downloads section below.


Grew by $0.9 billion or 7.0% in 2023, compared with an increase of 5.0% in 2022.


Grew by $0.7 billion or 6.1% in 2023, compared with 10.5% in 2022.


Increased by $598.8 million or 5.3% in 2023, compared with 3.5% in 2022.

Wealth Assets Under Administration

Increased by $306.0 million or 7.5% in 2023, compared with a 1.6% decrease in 2022.

Loans by Lending Sector (%)

Stable portfolio product mix across commercial and retail loan books in 2023.

Total Funding Composition (%)

Strong funding and liquidity profiles, with deposits totaling $12.0 billion, an increase of 5.3% in 2023, compared to 3.5% in 2022.

Profit ($M)

Loss for the year of $1.8 million was $38.8 million, or 104.9%, lower in 2023, compared with profit of $37.0 million in 2022.

Revenue Mix ($M)

Continued strong diversification of interest, fee, commission and other income in 2023.

Total Assets and Wealth Assets Under Administration ($B)

Including wealth assets under administration, First West's total assets grew approximately $1.2 billion, an increase of 7.1% from $17.4 billion in 2022.

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 $572 million relative to minimum regulatory requirement of 8.0%. (*as defined by BCFSA)
Faced with persistent, tough economic conditions, First West’s team members dug deep for members and each other, achieving strong fundamental financial performance while building our members’ confidence and trust.
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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 11.3 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 about ESG and our sustainability journey on pages 8 – 11 of the 2023 annual report.

* Copyright ©2024 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