LANGLEY, B.C. –Morningstar DBRS has confirmed Tru Cooperative Bank’s Long-Term Issuer Rating at BBB (high) and its Short-Term Issuer Rating at R-1 (low), with a Stable trend on all credit ratings.
The credit ratings recognize Tru’s solid franchise as the second-largest federal credit union in Canada. Morningstar DBRS also highlighted the bank’s diversified earnings profile, stable funding sources, sound asset quality, and solid liquidity and capital positions.
Morningstar DBRS noted Tru’s sustained improvement in profitability throughout 2025 and the first half of 2026, supported by disciplined expense management, a focus on mortgage renewals and expansion into Ontario’s mortgage market through the broker channel. The agency expects Tru’s earnings and earnings metrics to recover to historical levels by the end of 2026, supported by further modest net interest margin expansion and prudent cost control.
With total assets of approximately $15.1 billion as at June 30, 2026, Tru has a well-established presence and strong market share in deposits and loans in British Columbia. Following its federal continuance on April 1, 2026, Tru is positioned to serve existing members and welcome new members across Canada. Tru serves approximately 290,000 members through its community-based brands, Envision Financial, Valley First, Island Savings, and Enderby & District Financial, while also expanding its mortgage broker channel into Ontario.
Morningstar DBRS also recognized Tru’s conservative risk culture, stable member deposit base and strong liquidity. Member deposits accounted for approximately 90 per cent of total funding in 2025, while Tru’s capital levels remained above applicable regulatory minimums following its transition to federal regulation.
“Morningstar DBRS’s credit rating reflects the strength and resilience of Tru Cooperative Bank as we continue building a national, purpose-driven cooperative banking option for Canadians,” says Mark Moreland, Tru’s Chief Financial and Strategy Officer. “Our disciplined financial management, diversified business, and strong capital and liquidity positions give us a solid foundation from which to serve our members, invest in our communities and pursue responsible growth across Canada.”
Morningstar DBRS recently commented separately on Tru’s proposed merger with Libro Credit Union, noting that the combination would increase scale and geographic diversification. The agency indicated that it expects Tru’s credit ratings to remain unaffected.
