First West Credit Union significantly outperforms the Canadian mutual fund industry standard
Independent research firm Investor Economics reported that in 2012, First West Credit Union's wealth management asset growth was 14.6 per cent, approximately one-third higher than the industry standard of 10.9 per cent. A key measure of this growth is net flows as a percentage of beginning assets-First West achieved growth of 8.3 per cent, almost three times the industry average of 2.8 per cent. Working closely in partnership with Qtrade, the number one online brokerage according to The Globe and Mail's annual survey, First West's wealth management teams at Envision Financial and Valley First are able to offer more advice more often to a greater number of members.
Local food banks gain much needed support with Feed the Valley and The Full Cupboard
According to the 2012 Hunger Count report from Food Banks Canada, food bank usage is on the rise, growing by an alarming 6.6 per cent in B.C. last year compared to 2011. First West employees are passionately committed to making a difference for this cause and in 2012, Feed the Valley, Valley First's signature cause, raised an incredible $150,000 and 32,000 pounds of food. This brings the program's totals close to $465,000 and 39,000 pounds of food since inception in March 2010. Following the success of Feed the Valley, The Full Cupboard was launched in the Envision Financial region in early 2013 in support of the important work of food banks in the Lower Mainland, Fraser Valley and Kitimat.
First West welcomes Enderby & District Credit Union to join First West Credit Union family
In October 2012, Enderby & District Credit Union (EDCU) entered discussions to join First West. After a special general meeting in March 2013, EDCU members voted unanimously to join B.C.'s third largest credit union. For First West, the merger marks a special milestone as well, as the credit union had planned to attract a third partner by the end of 2013, and having a third partner join the First West family well ahead of its target demonstrates yet again that British Columbians and Canadians appreciate the local focus of the credit union.
First West Foundation building a legacy in local communities
The First West Foundation, the private charitable arm of First West Credit Union, donated close to $333,000 in 2012 to charitable organizations in the Lower Mainland, Fraser Valley, Kitimat, and the Okanagan, Similkameen and Thompson valleys. The First West Foundation helps improve the quality of life for British Columbians in the communities served by First West Credit Union and its regional divisions-Envision Financial and Valley First-proudly contributing more than $2 million to charities over the last 16 years.
In March 2013, EDCU announced that it has established a new $500,000 endowment to be housed within the First West Foundation. The endowment was created as a legacy fund for the region and will support worthwhile community initiatives in the Enderby area.
Female credit union CEOs join forces with YWCA to help single moms
Launi Skinner, CEO of First West Credit Union, alongside with Tamara Vrooman of Vancity and Tracy Redies of Coast Capital Savings, entered into a three-year partnership with the YWCA to help single moms in Metro Vancouver. This $450,000 investment will fund six new single mothers' support groups, providing participants with the resources to gain employment, go back to school and find safe and affordable housing.
First West AGM scheduled in Penticton and Langley
First West will be holding its 2013 AGM on May 6 at the Penticton Lakeside Resort in Penticton, B.C. and on May 9 at the Cascades Casino Resort in Langley, B.C. For more details visit: www.firstwestcu.ca/events.
About First West Credit Union
First West Credit Union offers members the financial strength, comprehensive product selection and extended branch network of a large financial institution while maintaining local brand identities and a unique grassroots approach to service. Led by Launi Skinner, First West is British Columbia's third-largest credit union with $7.1 billion in assets under administration, more than 171,000 members and close to 1,300 employees. It operates 40 branches throughout the province under the Envision Financial, Valley First and Enderby & District Financial brands. For more information on First West Credit Union, visit www.firstwestcu.ca.
Follow First West Credit Union on Twitter: @firstwestcu
First West Credit Union
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