LANGLEY, B.C. – Tru Cooperative Bank has released its 2025 Annual Report, marking a year of strong financial performance and resilience as the organization enters its next chapter under a new name. Formerly known as First West Credit Union, the cooperative bank completed its name change on April 1, 2026, following federal continuance.
The annual report reflects financial results for the year ended December 31, 2025, when the organization operated as First West Credit Union. Combined with wealth assets under administration, the cooperative ended the year with $20.8 billion in total assets and assets under administration (AUA), underscoring sustained scale and balance sheet strength during a period of persistent economic volatility.
“Many Canadians continue to navigate significant financial pressure, and that was true throughout 2025,” says Mark Moreland, Chief Financial Officer of Tru Cooperative Bank. “Our performance reflects both disciplined financial management and the trust members continue to place in us to support their long-term financial confidence.”
Key 2025 highlights include:
- Total assets and assets under administration exceeding $20 billion, representing year-over-year growth of approximately $1.2 billion
- Profit of $30.5 million, following a challenging 2024 environment
- Loan growth of 4.2 per cent and wealth assets under administration growth of 12.5 per cent
- A strong regulatory capital position, with a capital buffer well above minimum requirements
“As we move forward as Tru Cooperative Bank, our priorities remain unchanged: prudent growth, strong capital and liquidity, and a cooperative model that puts long-term stability ahead of short-term performance,” adds Moreland.
While the 2025 Annual Report is branded First West Credit Union due to the reporting period, it represents the financial foundation of Tru Cooperative Bank following its federal continuance and name change earlier this month.
That foundation was recently affirmed by Morningstar DBRS, which confirmed the bank’s investment-grade long-term and short-term issuer ratings following federal continuance, noting that the transition to federal regulation enhances the institution’s overall resilience and supports its ability to serve members across Canada.
The full 2025 Annual Report is available at firstwestcu.ca/annual-report/2025.