The story
History
Early origins
The origins of Tru Cooperative Bank trace back to several community-based credit unions established in British Columbia in the mid-20th century, which later consolidated into regional credit unions and operating divisions within First West Credit Union.
According to the organization's corporate history, its predecessor credit unions included Valley First (with roots in Penticton & District Credit Union, founded in 1947) and Envision Credit Union (formed in 2001 through the merger of Delta Credit Union and First Heritage Savings Credit Union).
The organization also identifies predecessor institutions that later became operating divisions, including Enderby & District Credit Union, and Island Savings Credit Union (formed through earlier credit union mergers on Vancouver Island).
Historical accounts of East Chilliwack Credit Union describe its founding in 1954 and its later role in the merger history of credit unions in the Fraser Valley that contributed to the formation of First Heritage Savings Credit Union, one of the predecessor institutions to Envision Credit Union.
Formation of First West Credit Union (2010)
A period of consolidation among British Columbia credit unions led to the formation of larger regional entities in the early 21st century.
In 2010, Envision Credit Union and Valley First Credit Union merged to form First West Credit Union. Following the merger, Envision Credit Union's brand was updated to be Envision Financial. Both Envision Financial and Valley First retained their names as regional operating divisions.
In 2013, Enderby & District Credit Union joined First West Credit Union and retained an updated version of its name, Enderby & District Financial. In 2015, Island Savings Credit Union merged with First West Credit Union, joining Envision Financial, Valley First, and Enderby & District Financial as operating divisions under the First West group of brands.
Transition to federal regulation and Tru Cooperative Bank (2021-2026)
In 2021, members of First West Credit Union voted on a special resolution to apply to continue as a federal credit union under the Bank Act. This would enable the organization to operate under the Canadian federal regulatory body for financial institutions, the Office of the Superintendent of Financial Institutions (OSFI), while maintaining its cooperative structure. With OSFI's approval, First West Credit Union became a federally regulated credit union on April 1, 2026 and adopted the name Tru Cooperative Bank. Morningstar DBRS reported that the federal charter enabled the organization to serve members outside British Columbia and attract prospective members across Canada. Local coverage described the "Tru" name as intended to reflect the institution's cooperative roots.
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Tru Charitable Foundation
The Tru Charitable Foundation formerly, First West Foundation is a Canadian registered charitable foundation established in 1996. It is the cooperative banks philanthropic partner and administers grant-making programs and regional community endowments in areas served by Tru Cooperative Bank and its operating divisions. Its work is guided by the principles of trust‑based philanthropy, emphasizing reduced barriers to access, mutual accountability, and partnerships built upon mutual trust and respect with community partners.
The foundation aligns its granting with six United Nations Sustainable Development Goals, including poverty reduction, food security, health and well-being, education, equity and collaborative partnerships.
Local reporting on the Foundation grants has described funding directed to community organizations for capacity-building projects, including kitchen upgrades to expand meal programs. Media coverage has also highlighted the foundation's community-development leadership, including recognition of its executive director for long-term work related to food security and philanthropy.
BC Cancer Foundation
Tru Cooperative Bank has partnered with the BC Cancer Foundation since 2022. The BC Cancer Foundation reports that Tru Cooperative Bank (at the time First West Credit Union) invested $300,000 in the Beyond Belief campaign between 2022 and 2024 and that an extension of the partnership included an additional $100,000 investment involving its regional brands. The initiative also involves engaging our team members, including the Workout to Conquer Cancer Challenge, and dedicated funds that go to advance research and innovative cares across the province.
From Wikipedia’s article on Tru Cooperative Bank, shared under CC BY-SA 4.0.4