FOR THE ECONOMY

2024 HIGHLIGHTS

Strengthening the heart of the nation’s economy

Nearly 98% of all business in Canada is small business. In British Columbia small business creates 34% of the province’s total gross domestic product and employs nearly 1.14 million people. Whether starting, growing or transitioning a business, we stand shoulder to shoulder with business owners, understanding their needs every step of the way.

29,500+

We partnered with businesses of all sizes that help our economy thrive. Business owners and entrepreneurs look to First West to provide banking and advice that will help them achieve their goals.

4,300+

Thousands of our business members kept more money in their business with our Unlimited Chequing for Business® account, designed specifically for business owners and entrepreneurs.

$4.8 billion commercial lending portfolio

Year-over-year growth of $269 million in commercial lending to help support the goals of our business and commercial members.

“We love working with First West. They were instrumental in helping us get our business off the ground and have been supportive all the way.”

– Darren Postma, owner, Polar Electric and Iron Cycle Club, Abbotsford, B.C.

HELPING B.C. THRIVE

For more than a decade, First West has been one of British Columbia’s most profitable companies

In 2024 we provided well-paying, stable jobs that triggered spin-off economic activity and job creation in the many communities we serve.

2,427 jobs

First West’s operations and resulting spin-off commercial activity positively impacted local economies and the people who live, work and play in our communities.

$335 million

First West’s operations produced $157. million in direct gross domestic product (GDP) impact in 2024. Factoring in economic multipliers, the credit union’s activities generated an additional $178 million in indirect GDP.

Business members dream big

First West’s commercial and business advisors are committed to helping business owners make their visions become reality. With our size, financial strength, local-market knowledge and boots-on-the-ground approach, we can help take their businesses to the next level.