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Growth and stability the key themes for First West Credit Union in 2018

LANGLEY, B.C. – First West Credit Union has revealed its financial highlights for 2018, showing strong financial performance driven by an after-tax profit of $57.9 million— an increase of 37.3 per cent. These results demonstrate First West’s commitment to keeping its members and communities at the centre of everything the credit union does through innovative and relevant financial products, remarkable advice and service, and strong community support.

First West Credit Union 2018 financial highlights

  • Total assets grew by $413.3 million, or 4.2 per cent
  • Total deposits grew $245.7 million, or 2.8 per cent
  • Total loans grew $356.0 million, or 4.3 per cent
  • Income before tax increased $18.7 million or 35.9 per cent, to $71.0 million
  • Paid dividends of $1.2 million to members, bringing total dividends paid to $11.6 million since 2010

Furthering its commitment towards building healthier communities, First West also invested more than $3.0 million through its community giving activities, including the organization’s signature causes, Feed the Valley and The Full Cupboard, bringing its community investment total to $22.6 million since 2010.

First West Credit Union 2018 annual report now online

First West Credit Union’s online annual report and downloadable 2018 financial statements are now available, featuring management’s discussion and analysis, 2018 successes and highlights from our regional divisions.

Annual General Meeting

The 2018 First West Credit Union AGM can be attended either:

In-person- May 14, 2019 Registration 5:00 p.m. Meeting 6:00 p.m., Victoria Conference Centre, 720 Douglas Street, Victoria, BC

Online via webcast at firstwestcu.ca

For more information on the AGM, visit firstwestcu.ca/our-leadership/governance/

Company Information

First West Credit Union

First West Credit Union offers members the financial strength, comprehensive product selection and extended branch network of a large financial institution while maintaining local brand identities and a unique grassroots approach to service. Led by Launi Skinner, First West is British Columbia’s third-largest credit union with $10 billion in assets, nearly 250,000 members and more than 1,400 employees. It operates 50 branches throughout the province under the Envision Financial, Valley First, Enderby & District Financial and Island Savings brands.