FOR THE ECONOMY

2020 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 1.1 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.

27,100+

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.

6,600+

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.

$130 million

The net increase in commercial loans we provided last year contributed to supporting the business growth and goals of 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.

$270 million funded for mid-market businesses

Since inception in 2010, First West Capital has supported more than 100 businesses and entrepreneurs with a quarter billion dollars in disbursements. Our junior capital subsidiary specializes in mid-market businesses, helping them grow, acquire or transition.

HELPING B.C. THRIVE

For 10 years running, First West has been one of British Columbia’s most profitable companies

In 2020 we provided well-paying, stable jobs that triggered spin-off economic activity and job creation in the many communities we serve.

2,230 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.

$499 million

First West’s operations produced $258 million in direct gross domestic product (GDP) impact in 2020. Factoring in economic multipliers, the credit union’s activities generated an additional $240 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.