BECOMING A FEDERAL CREDIT UNION

We believe every person, business and community deserves to feel financially confident, so we’re redefining banking to make that possible.

REDEFINING BANKING

At Tru Cooperative Bank, we bring together local financial cooperatives to harness their collective strength, combining the stability of a leading Canadian bank with the care and community leadership of a local credit union.

When setting out on our path to become a federally regulated credit union, we had members’ interests in sight. As Tru Cooperative Bank, we believe that a strong foundation for the future means continuing to responsibly grow across the country in ways that support each of our credit union’s local brands.

By combining the local touch of your credit union with the national resources of our collective, our members’ experience banking that’s built on community, powered by cooperation. And that’s something that every Canadian deserves.

Our distinct regional brands are led by community-rooted teams who bring local insight and relationship building to everything we do. As Island Savings, Envision Financial, Valley First and Enderby & District Financial, we’re creating something better for our communities.

Cooperation isn’t only an ownership model; it’s the driving force behind everything we do

Whether it’s a quick question or a major life decision, the experts across our regional brands engage deeply with members, investing the time to understand and help improve their financial health and confidence. We connect people with meaningful and personalized advice, enhanced digital banking tools, education, and an accessible network of advisors, branches and ATMs so they have the opportunity and confidence to build a life they love. By redefining what banking can do for people, our local communities and our world, we deliver more impact, innovation and stability than any one brand could on its own.

Meet and anticipate the digital needs of our members

Becoming a federal credit union is a defining moment for our organization and for cooperative banking in Canada. It reflects the responsibility we carry to offer Canadians a genuine alternative in financial services: one that combines strength and sophistication with trust, participation and purpose. This transition strengthens our ability to grow responsibly, deepen our impact and ensure cooperative banking remains a meaningful choice for generations to come. It also underscores our commitment to strong governance, sound risk management and long term resilience.

Shawn Neumann,Board Chair

Five ways being federally regulated makes us ready for what our members need next

1. We’re a collective of trusted B.C. financial services brands

Our business model unites trusted credit union brands to harness their collective strength, combining the stability of a leading Canadian bank with the care and community leadership of a local credit union. Together, we provide members with financial confidence through meaningful, personalized advice from local experts, enhanced digital banking tools and an accessible network of advisors, branches and ATMs. Whether it’s a quick question or a major life decision, our teams are known for building trust, being honest, and ready to help.

As Tru Cooperative Bank, we continue to operate our established local brands – Envision Financial, Island Savings, Valley First and Enderby & District Financial – serving members across British Columbia through the same branches, teams and relationships members rely on today. Day to day banking remains unchanged, supported by the same advice led approach and community presence that define cooperative banking.

2. Meet and anticipate the digital needs of our members

Members use and expect more digital solutions to manage their finances. Not surprisingly, the COVID-19 pandemic has accelerated the demand and preference for more non-physical service options. These technologies and digital solutions, however, require significant financial and resource investments by the credit union. To achieve a reasonable return on investment for digital innovation, we would benefit from access to the larger Canadian market—not solely the B.C. marketplace

3. We welcome other credit unions into our model

For more than a decade, we’ve demonstrated that our multi-brand business model is successful at working local with the strength of our collective size. Together Island Savings, Envision Financial, Valley First and Enderby & District Financial provide more value for members than they could have on their own. Since coming together as Tru Cooperative Bank, we’ve:

Eliminated or reduced every-day banking fees for members
Introduced convenient online and mobile banking technologies
Served members with greater access to support through our Member Advice Centre
Led in and supported our communities when they needed us most

Growing across Canada is in our future, and we welcome conversation with credit unions like us in other provinces who are curious about how our model would help them and their members flourish.

4. Further protect members’ interests through stringent regulatory oversight

Federal credit unions receive some of the highest levels of prudential oversight afforded to financial institutions in Canada through bodies such as OSFI, the Financial Consumer Agency of Canada (FCAC) and the Canada Deposit Insurance Corporation (CDIC). Our stringent regulatory requirements protect our members’ interests and help us continually strengthen and improve our practices.

5. We attract and develop skilled employees to lead and safeguard our members’ assets

With growth comes the need to attract and retain employees who have the experience and specialized skill to steward members’ business with the credit union. As a federally regulated credit union, we can attract a broader range of skilled applicants from across Canada in critical areas such as cybersecurity, risk management, digital services and technology, and provide compelling career paths for current employees.

Because you deserve more

You deserve Tru Cooperative Bank. As a member-owned cooperative, we genuinely champion the interests of our members and communities — always putting your needs first, no exceptions. We make it easier for you to get the everyday solutions and advice you need to take control of your financial health