Tru Cooperative Bank
This Page's Content Was Last Updated: July 21, 2026
Important Information
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Managing $14.8 billion in total assets, Tru Cooperative Bank stands as the #6 largest credit union in Canada. Our independent review breaks down Tru Cooperative Bank’s consumer offerings, deposit safety under the Canada Deposit Insurance Corporation (CDIC), and competitive rates for British Columbia depositors and home buyers.
Jump to Section: Institution Overview•Mortgage Rates•GIC Rates•Financial Performance
Credit Union
Tru Cooperative Bank
Tru Cooperative Bank is a credit union located in British Columbia. It was founded in 2010 through the merger of Envision Financial and Valley First Credit Union. It primarily serves Southwestern Region of British Columbia.
Tru Cooperative Bank, formerly First West Credit Union, is a British Columbia–based federal credit union with predecessor roots reaching back to 1946. First West was formed in 2010 through the merger of Envision Financial and Valley First, later expanding to include Island Savings and Enderby & District Financial. The cooperative operates through these regional brands, letting members bank under established local names while drawing on the scale of a larger institution. In April 2026, First West completed its transition to federal regulation and adopted the legal name Tru Cooperative Bank, enabling it to serve members across Canada. Its regional brands continue to provide everyday banking, business services, mortgages, and wealth management. Member deposits are insured by the Canada Deposit Insurance Corporation (CDIC).
Provinces served
Number of Members (as of 2025): ~290,000
Tru Cooperative Bank Mortgage Rates
The mortgage rates on this page were last updated on September 21, 2026 at 6:15 PM ET.
| Lender | Term | Insured down payment < 20% | Insurable home < $1M & amortization ≤ 25yr |
|---|---|---|---|
| Tru Cooperative Bank | 6-Month Fixed | 6.64% | 6.64% |
| Tru Cooperative Bank | 1-Year Fixed | 4.64% | 4.64% |
| Tru Cooperative Bank | 2-Year Fixed | 4.59% | 4.59% |
| Tru Cooperative Bank | 3-Year Fixed | 4.54% | 4.54% |
| Tru Cooperative Bank | 4-Year Fixed | 4.59% | 4.59% |
| Tru Cooperative Bank | 5-Year Fixed | 4.49% | 4.64% |
| Tru Cooperative Bank | 7-Year Fixed | 7.29% | 7.29% |
| Tru Cooperative Bank | 10-Year Fixed | 7.54% | 7.54% |
| Tru Cooperative Bank | 5-Year Variable | 3.70% | 3.85% |
* Rates are for informational purposes only and reflect the lowest rates available. Rates may change at any time and may be applicable only to certain borrowers. Terms and conditions apply. | |||
Understanding Tru Cooperative Bank Mortgage Features
- Prepayment Privileges: Most credit unions in British Columbia allow members to make annual lump-sum prepayments (10%–20%) and payment increases without penalty.
- Early Termination Penalties: Breaking a fixed-rate mortgage early incurs an Interest Rate Differential (IRD) or 3 months' interest penalty. Variable mortgages typically carry a 3-month interest fee.
- Local Approval: Mortgages are underwritten locally, providing flexible solutions for self-employed buyers and unique property types.
Estimate your payments using WOWA's Mortgage Payment Calculator.
Tru Cooperative Bank GIC Rates
The GIC rates on this page were last updated on September 21, 2026 at 5:44 PM ET.
| Term | Non-Registered Rate | Registered Rate |
|---|---|---|
| 3-Month | 2.06% | 2.06% |
| 6-Month | 3.01% | 3.01% |
| 9-Month | 3.11% | 3.11% |
| 1-Year | 3.21% | 3.21% |
| 2-Year | 3.51% | 3.51% |
| 3-Year | 3.61% | 3.61% |
| 4-Year | 3.66% | 3.66% |
| 5-Year | 3.71% | 3.71% |
* Rates are for informational purposes only and reflect the highest rates available. Rates may change at any time and may be applicable only to certain depositors. Terms and conditions apply. | ||
Tru Cooperative Bank Ranking Among Credit Unions Monitored by WOWA
6th
by Assets
of 134 credit unions
6th
by Loans
of 133 credit unions
8th
by Deposits
of 133 credit unions
Tru Cooperative Bank ranks 6th among Canadian credit unions by assets monitored by WOWA, 6th by loans, and 8th by deposits, as of December 31, 2025. You can view the complete list of Canadian credit unions here.
Tru Cooperative Bank Branch Locations
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: Tru Essentials Chequing
- Standard Fee
- Free
- Free Transactions
- 12
- Max e-Transfer / Day
- $5,000
- Insurance Limit
- $100,000 per category
Account details
- This account allows 12 free transactions.
- Unlimited debit transactions are available for a monthly fee of $9.
- Maximum Interac e-Transfer per day: $5,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Tru Essentials Chequing is a no-monthly-fee account with no minimum balance. It includes 12 free debit transactions per month; the next 6 cost $1.50 each, after which additional debit transactions are free for the rest of the month. These fees are capped at $9 per month. Digital transfers between Tru Cooperative Bank accounts are free.
Deposit Insurance
Deposits are insured by the Canada Deposit Insurance Corporation (CDIC). "Category" generally means separate coverage for each account type, such as individual, joint, trust, and each registered plan, though exact definitions vary slightly by province.
Savings Accounts
Savings Account
Account: High Interest Savings Account
- Interest Rate
- 0.64%
- Standard Fee
- Free
- Free Transactions
- 1
- Max e-Transfer / Day
- $5,000
- Insurance Limit
- $100,000 per category
Account details
- This account allows 1 free transaction.
- Maximum Interac e-Transfer per day: $5,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Tru Cooperative Bank High Interest Savings Account is a no-monthly-fee savings account with no minimum balance requirement and tiered interest based on the daily closing balance. It includes 1 free debit transaction per month and is available as a non-registered account, TFSA, or RRSP. Additional debit transactions may incur fees.
Deposit Insurance
Deposits are insured by the Canada Deposit Insurance Corporation (CDIC). "Category" generally means separate coverage for each account type, such as individual, joint, trust, and each registered plan, though exact definitions vary slightly by province.
Savings Account
Account: Savings First
- Interest Rate
- 0.30%
- Standard Fee
- Free
- Free Transactions
- 2
- Max e-Transfer / Day
- $5,000
- Insurance Limit
- $100,000 per category
Account details
- This account allows 2 free transactions.
- Maximum Interac e-Transfer per day: $5,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Tru Cooperative Bank Savings First is a no-monthly-fee savings account with no minimum balance requirement. Interest is calculated daily on the entire closing balance and paid at month end. The account includes 2 free debit transactions per month, while additional debit transactions cost $1.25 each.
Deposit Insurance
Deposits are insured by the Canada Deposit Insurance Corporation (CDIC). "Category" generally means separate coverage for each account type, such as individual, joint, trust, and each registered plan, though exact definitions vary slightly by province.
Key Financial Metrics and Trends
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $14,802M | +3.8% | +16.8% |
| Loans | $13,024M | +4.2% | +28.2% |
| Deposits | $11,870M | +0.6% | +8.0% |
| Loan-to-Deposit Ratio | 109.7% | — | — |
| Mortgages + HELOCs | $7,814M | +3.8% | +28.5% |
| Securities | $1,221M | +3.1% | -27.3% |
| Revenue | $343M | +24.7% | +2.4% |
| Efficiency Ratio | 85.1% | — | — |
| Target Members / Region | Southwestern Region of British Columbia | — | — |
Tru Cooperative Bank Deposits, Loans and Revenue in the Past 5 Years
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Contact
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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.