First Credit Union and Vancity have merged to enhance member services and community impact in British Columbia, marking a historic moment for cooperative banking in the region.

Information on the Target

First Credit Union (FCU), established in 1939, is one of British Columbia's longest-established community credit unions. It serves approximately 15,000 members across the Sunshine Coast, Vancouver Island, and the Gulf Islands. FCU is grounded in cooperative values and focuses on local services, relationship-based banking, and community engagement. With the recent member vote in favor of a merger with Vancouver City Savings Credit Union (Vancity), FCU is poised to enhance its operational capabilities and member offerings.

This merger marks a pivotal moment for community banking in British Columbia, as it aims to create a more resilient and member-centered financial institution. The anticipated merger is set to finalize on December 1st, 2025, representing a strategic alignment of resources and values between two cooperative entities.

Industry Overview in British Columbia

The credit union industry in British Columbia (BC) plays a vital role in the region's financial landscape. Credit unions are known for their community-focused approach, offering personalized services tailored to the needs of their members. This sector has been experie