First Credit Union
This Page's Content Was Last Updated: July 21, 2026
⚠️It was merged into Vancity in 2025 and now operates as FCU Community Financial, a division of Vancity.
Credit Union
First
First Credit Union is a credit union located in British Columbia. It was founded in 1939. It primarily serves BC's Sunshine Coast, Vancouver Island and and the Gulf Islands.
FCU Community Financial, formerly First Credit Union, traces its origins to Powell River, British Columbia, where a local cooperative financial institution was organized in 1932 and formally chartered in 1939 as Powell River Credit Union. It is recognized as British Columbia’s first credit union.
For decades, First Credit Union served coastal British Columbia communities with personal and business banking, lending, wealth services, and local financial advice. Its community role included returning a portion of profits to local initiatives and maintaining a cooperative structure focused on member ownership and regional service.
On December 1, 2025, First Credit Union completed its merger with Vancity and began operating as FCU Community Financial, a division of Vancity. The division continues to serve coastal communities while operating within a larger cooperative financial institution.
Provinces served
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: First Chequing
- Standard Fee
- $3.50/mo
- Free Transactions
- 0
- Insurance Limit
- Unlimited
Account details
- This account allows 0 free transactions.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), administered by BCFSA.
Chequing Account
2. Account: Prestige
- Standard Fee
- $24.00/mo
- Free Transactions
- Unlimited
- Insurance Limit
- Unlimited
Account details
- The monthly account fee is waived if you maintain a minimum balance of $5,000 in your account.
- This account allows Unlimited free transactions.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), administered by BCFSA.
Savings Accounts
Savings Account
Account: First Savings
- Interest Rate
- 0.05%
- Standard Fee
- Free
- Free Transactions
- 6
- Insurance Limit
- Unlimited
Account details
- This account allows 6 free transactions.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), administered by BCFSA.
Savings Account
Account: Power Saver
- Interest Rate
- 0.25%*
- Standard Fee
- Free
- Free Transactions
- 1
- Insurance Limit
- Unlimited
Account details
- This account allows 1 free transaction.
*Interest Rate Breakdown by Balance
Balance amount Interest rate $0.00 to $4,999.99 0.25% $5000.00 or more 0.50% Deposit Insurance
Deposits are insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), administered by BCFSA.
Credit Union Overview
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $673M | 0.0% | 0.0% |
| Loans | $571M | 0.0% | +2.9% |
| Deposits | $588M | 0.0% | -2.5% |
| Mortgages + HELOCs | $472M | 0.0% | 0.0% |
| Revenue | $16M | 0.0% | 0.0% |
| Efficiency Ratio | 98.3% | — | — |
| Members | ~15,000 | — | — |
| Branches | 8 | — | — |
| Target Members / Region | BC's Sunshine Coast, Vancouver Island, and the Gulf Islands | — | — |
First Credit Union Deposits, Loans and Revenue in the Past 5 Years
For deeper insights into all Canadian lenders, subscribe to our comprehensive Lenders Report, with plans starting at just $100 per month.
Contact
If you're from First Credit Union and would like to add or update information on this page, please fill out the form.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA® does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.