First Credit Union
This Page's Content Was Last Updated: July 21, 2026
Important Information
WOWA.ca is an independent financial comparison platform and is not affiliated with First Credit Union.
⚠️It was merged into Vancity in 2025 and now operates as FCU Community Financial, a division of Vancity.
Read our independent First Credit Union review to compare financial metrics, chequing fees, and branch locations across British Columbia. As of 2026, First Credit Union ranks #55 among Canadian credit unions with $673 million in total assets.
Quick Jump: Chequing & Savings Accounts|Financial Metrics
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
Number of Members (as of 2025): ~15,000
First Credit Union Ranking Among Credit Unions Monitored by WOWA
55th
by Assets
of 134 credit unions
54th
by Loans
of 133 credit unions
56th
by Deposits
of 133 credit unions
First Credit Union ranks 55th among Canadian credit unions by assets monitored by WOWA, 54th by loans, and 56th by deposits, as of December 31, 2024. You can view the complete list of Canadian credit unions here.
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.
- Withdrawal: $0.85 Cheque: $0.85 Point-of-Sale Transaction: $0.85 Pre-Authorized Debit: $0.85 ATM Withdrawal (Credit Union ATM): $0.85 Bill Payment: $1.25
- First Credit Union First Chequing is a $3.50-per-month pay-as-you-go chequing account with free deposits, transfers, and Interac e-Transfers. Withdrawals, cheques, debit purchases, pre-authorized debits, and credit union ATM transactions cost $0.85 each, while bill payments cost $1.25. Free e-statements and mobile cheque deposits are included. Ding Free ATM access is available.
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.
- First Credit Union Prestige is a $24-per-month chequing account with unlimited transactions and Interac e-Transfers. It includes free cheques and free annual rental of a small safety deposit box. The monthly fee is waived with a minimum balance of $5,000, while members age 60 and older receive a $5 monthly discount.
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.
- First Credit Union First Savings is a no-monthly-fee savings account with interest and 6 included transactions per month. Deposits, transfers, and Interac e-Transfers are free. Interest is calculated on the closing daily balance and paid monthly. E-statements and paper statements are free, and Deposit Anywhere mobile cheque deposit is available.
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% - First Credit Union Power Saver is a no-monthly-fee high-interest savings account with 1 free transaction per month. Interest is calculated on the closing daily balance and paid monthly. Additional transfers out or withdrawals cost $5 each. Cheques, debit purchases, pre-authorized debits, ATM withdrawals, bill payments, and Interac e-Transfers are not available.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), administered by BCFSA.
Key Financial Metrics and Trends
| 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% |
| Loan-to-Deposit Ratio | 97.1% | — | — |
| Mortgages + HELOCs | $472M | 0.0% | 0.0% |
| Securities | $54M | 0.0% | -14.3% |
| Revenue | $16M | 0.0% | 0.0% |
| Efficiency Ratio | 98.3% | — | — |
| 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
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Contact
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