Langley-based First West Credit Union has announced asset growth of 7.4% to $4.74 billion in 2011.
First West, B.C.'s third-largest credit union, also reported membership growth of 8% in 2011, which it says is the strongest membership growth of all of B.C.'s major credit unions last year, on a percentage basis.
"Over the past year, the First West team achieved some great successes," said First West CEO Launi Skinner. "Notably, we increased our membership by more than 8% in 2011, which is a significant accomplishment – one that was only made possible through the concerted efforts of all our employees."
The credit union also announced that in 2011:
- its loans to members increased 6.5% to $4.74 billion;
- deposits from members increased 3.7% to $4.60 billion; and
- its net operating income was $40 million.
First West operates 37 branches under the Envision Financial and Valley First brands.
The company formed in January 2010. Later that year, the credit union launched First West Capital. (See "New mezzanine lender enters B.C. market" – BIV Business Today, January 4, 2011.)
