Island Savings, A Division of Tru Cooperative/First West Credit Union
Vancouver Island banking, a division of First West Credit Union.
Overview
Island Savings is a division of First West Credit Union (operating as Tru Cooperative), serving Vancouver Island and the Gulf Islands, British Columbia.
No-Fee Chequing Accounts
Free*
- Monthly usage cap
Specific thresholds vary by credit union. Visit Island Savings, A Division of Tru Cooperative/First West Credit Union's website for current requirements.
Current Rates
GIC Rate Ladder
| Term | Rate |
|---|---|
| 1-Year GIC | 3.01% |
| 3-Year GIC | 3.31% |
| 5-Year GIC | 3.41% |
Pros
- • Deposit insurance up to $100,000 per category through CDIC
- • No-fee chequing available under a monthly transaction cap
- • Solid digital banking with mobile app, online banking, and Interac e-Transfer
Cons
- • Fewer specialized financial products and international banking services than other institutions
Best For
Products & Accounts
Membership Eligibility
British Columbia residents
Open to residents of British Columbia. Membership requires purchase of a membership share.
Deposit Protection
CDIC
$100,000 per category
As a federal credit union, Island Savings is insured by CDIC (Canada Deposit Insurance Corporation) at $100,000 per eligible category.
Digital & Access
- Mobile App
- Online Banking
- Interac e-Transfer
- ATM NetworkTHE EXCHANGE Network
- Digital Ratinggood
Rate and eligibility data is gathered from official credit union websites and verified comparison sources. Always verify rates directly on the official website before making financial decisions.
Official WebsiteRelated reading
