04

Economic Impact

B.C. is small business

Small business powers the economy of our province. 98% of business in B.C. is small business, creating 35% of the province’s total gross domestic product and employing nearly 1.1 million British Columbians.

Image of something.

Economic Impact

“We love working with First West. They were instrumental in helping us get our business off the ground and have been supportive all the way.”

Darren Postma, owner, Polar Electric and Iron Cycle Club, Abbotsford, B.C.

Business members

Business members

We’re proud to partner with thousands of entrepreneurs who help B.C.’s economy thrive. Locally-owned businesses trust First West to provide banking and advice to help their businesses prosper.

$109 million 
In commercial lending in 2018 to help build and grow local businesses

$38 million

In funding for mid-market businesses and entrepreneurs through our First West Capital subsidiary

8,000+ business members

Kept more money in their businesses with our Unlimited Chequing for Business® Account, designed specifically for business owners and entrepreneurs

17 municipalities

From Vancouver Island to B.C.’s interior trusted First West to provide their banking services in 2018

Image of something.

Economic Impact

“First West works alongside us with creativity and care to help keep our business thriving.”

Bridget Hennessy, Portofino Bakery, Victoria, B.C.

Vice & Virtue:
Brewing business success

Vice & Virtue:
Brewing business success

Hear about how some friends, in partnership with our Valley First division, began carving out a thriving, local craft beer enterprise in the heart of Canada’s wine country.

Helping B.C. thrive

For eight years running, First West has been one of the province’s most profitable companies. We provide well-paying, stable jobs for British Columbians, triggering spin-off economic activity and job creation in the many B.C. communities we serve.

2,189 jobs

First West’s operations and resulting spin-off commercial activity positively impacted British Columbians and local economies.

$353 million

First West’s operations produced $178 million in direct gross domestic product (GDP) impact in 2018. Factoring in economic multipliers, the credit union’s activities generated an additional $175 million in indirect GDP.

 03Financial Highlights

05Community Leadership