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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

About First West Credit Union

First West Credit Union brings together the best of both worlds, combining the scale, stability and solutions of a leading Canadian financial institution with the care and community leadership of a local cooperative. Powered by the leadership of Launi Skinner, First West is Canada’s premier multi-brand credit union, serving 283,000 members through four admired community brands: Envision Financial, Valley First, Island Savings, and Enderby & District Financial. With approximately $20 billion in total assets and assets under administration, First West makes it easy for its members to get impactful, practical advice and personalized service that’s truly in their best interests, through 45 branches across B.C., a Member Advice Centre and leading digital tools.

Since 2010, First West has given back more than $41 million to its communities, while cultivating a culture with its 1,250 team members that is recognized nationally with Canada’s Most Admired Cultures Award, BC’s Top Employers Award, 5-Star Psychological Safety Award, and the Canadian Workplace Wellbeing Award. Learn more at firstwestcu.ca and see how we’re redefining banking to create a future where everyone can flourish.