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Better than a bank: Credit unions lead Canadian financial institutions for customer service excellence 12 years in a row

Canadians have ranked credit unions first in overall Customer Service Excellence and Branch Service Excellence for the 12th consecutive year – among all financial institutions, according to the annual 2016 Ipsos® Best Banking Awards program.

Read the press release from the Canadian Credit Union Association for more information!

First Credit Union Shares Profits with Members

We are proud to announce that over the past year more than $300,000 has been shared with First Credit Union member-owners in the form of patronage and dividends. On June 9th 2016, based on 2015 profits, all member-owners were paid a 1.7% profit-share rebate on loan interest, deposit interest, and service charges paid, which amounts to $204,000. In addition, over $96,000 has been paid to members in the form of dividends.

Profit sharing is our credit union's way to reward our members for doing business with us, while also fulfilling the promise of one of the cooperative principles, 'member economic participation'; meaning that members share in the opportunity to benefit from their credit union's success. This is one of the many important differences that we're proud of and just another reason why it makes a difference to bank with your local credit union!

Alberta Wildfire Relief

The wildfires in Alberta have ravaged the Fort McMurray area and a mandatory evacuation has forced over 70,000 residents to leave their homes in search of safety. This is the largest fire-related evacuation in the province’s history.

When disasters such as this occur, we want to assist in any way we can. First Credit Union & Insurance has donated $2,500 to the Canadian Red Cross Alberta Fires Appeal on behalf of our members and clients.

Canadian Red Cross disaster response experts are supporting registration, family re-unification, assisting in shelters in Edmonton and Lac La Biche, as well as providing accommodation and basic necessities like food and water. Specially-trained volunteers are providing care and comfort to those who have suffered emotional trauma, and additional personnel are on standby and ready if needed. The Red Cross will be counting on the generous support of Canadians in the days, weeks, and months ahead to support individuals and families devastated by these fires.

Both the Alberta and federal government have made commitments to match individual donations made to the Canadian Red Cross.

You can donate to the Canadian Red Cross Alberta Fires Appeal by visiting their website or calling 1-800-418-1111.



First Credit Union is not actively calling members to obtain personal or banking information.
If you have any concerns about attempts for information please call one of our branches directly:

  • Powell River..........604-485-6206
  • Texada Island......604-486-7851
  • Cumberland.........250-336-2272
  • Bowen Island........604-947-2022


BC's Oldest Credit Union Tells Its Story!


In 1932, Powell Riverite and credit union founder Walter Cavanaugh had a dream. He wanted to build his own home but did not have the means to pay for his materials. By today’s standards, the solution would seem simple: seek a loan or a mortgage.  But in the 1930s, these options did not exist.

The solution to Cavanaugh’s challenge became the legacy of First Credit Union, BC’s oldest chartered credit union (established in Powell River in 1939.) We've just celebrated our 75th anniversary, and in honour of the occasion, commissioned the writing of a book to preserve and record our history. Local author, Linda Wegner, completed the book earlier this year and the book was published just in time for our 75th anniversary celebrations. Copies of the book, Start Small, Dream Big: The 75 Year History of BC’s First Credit Union will be available for purchase in First Credit Union branches by mid-July.


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