Valley First Credit Union – Guide to Branches Services and History

Valley First Credit Union operates as a division of Tru Cooperative Bank, formerly known as First West Credit Union, offering comprehensive banking services across British Columbia. Established in 1947 in Penticton, this financial institution has grown into one of the province’s largest credit unions, serving over 250,000 members through approximately 45 branches throughout the Okanagan Valley and surrounding regions. As a member-owned cooperative, Valley First provides a range of financial products including everyday banking, mortgages, savings accounts, and insurance services, maintaining deep roots in the communities it serves across the Secwepemcúl’ecw, Syilx tmixʷ, and Nłeʔkepmx Tmíxʷ territories.

What is Valley First Credit Union?

Valley First functions as a division of Tru Cooperative Bank, the operating name for First West Credit Union following regulatory approval to function as a federal credit union. The organization traces its origins to the Penticton and District Credit Union, founded in 1947, which expanded throughout the Okanagan and Similkameen valleys before establishing the Valley First brand in 1983. Today, the credit union ranks as the third-largest in British Columbia and fifth-largest in Canada by assets, managing approximately $14 billion in total assets and assets under management while employing roughly 1,250 people across its branch network. Members benefit from 100% cooperative ownership, with access to thousands of ATMs across Canada through the credit union network, including approximately 45 branches throughout British Columbia focused in communities such as Penticton, Kelowna, and Kamloops.

Key Insights

• Operates as a division of Tru Cooperative Bank, formerly First West Credit Union, following federal credit union approval
• Serves over 250,000 members through approximately 45 branches across British Columbia
• Ranks third-largest credit union in BC and fifth in Canada by assets
• Member-owned cooperative with 100% member ownership structure
• Digital banking services available alongside physical branch network
• Insured by the Credit Union Deposit Insurance Corporation of BC
• Community-focused mission emphasizes creating flourishing futures for members

Quick Facts

Where are Valley First Credit Union Branches Located?

Valley First operates approximately 45 branches throughout British Columbia, with concentrations in communities throughout the Okanagan Valley, Similkameen Valley, and Thompson-Nicola region. The branch network prioritizes communities including Penticton, Kelowna, and Kamloops, serving members who value local access alongside digital banking options. A key location includes the branch at 101-2395 Gordon Drive in Kelowna, British Columbia, serving the greater Okanagan area including West Kelowna communities. The credit union emphasizes its presence in Indigenous territories, operating within the traditional lands of the Secwépemc, Syilx Okanagan, and Nlaka’pamux peoples.

Branch Network Overview

The Valley First branch network represents one of the most extensive credit union presences in British Columbia’s interior, providing members with physical access points for everyday banking transactions, mortgage consultations, and financial advice. Combined with the broader Tru Cooperative Bank network, members gain access to thousands of ATMs across Canada, facilitating convenient cash access whether at home or traveling throughout the country. The digital banking platform complements the physical branch network, offering members flexibility in managing their finances through mobile applications and online banking tools.

What Services Does Valley First Credit Union Offer?

Valley First provides a comprehensive suite of financial services aligned with member-owned cooperative principles. Everyday banking products include chequing and savings accounts designed for personal and business use, while lending services encompass personal loans, lines of credit, and vehicle financing. Mortgage products serve members purchasing homes or refinancing existing properties, with the credit union offering competitive rates and personalized service through relationship-based banking. Insurance services complement the product lineup, providing members with options for protecting their assets and financial well-being through partnerships with established insurance providers.

Banking Products Available

• Chequing and savings accounts for personal banking
• Business chequing and commercial banking services
• Personal loans and lines of credit
• Vehicle and recreational vehicle financing
• Residential mortgages and refinancing options
• Insurance products through partner relationships
• Digital banking through mobile applications and online platforms

Membership and Accessibility

Joining Valley First is accessible to all British Columbia residents, with multiple pathways available for opening accounts. Prospective members can join online through the official website or by contacting the member service line at 1-888-597-8083. The credit union’s affiliation with Central 1 Credit Union and the broader credit union system in Canada provides members with enhanced access to banking services nationwide, including surcharge-free ATM access through thousands of credit union ATMs across the country. The membership model ensures that account holders are owners of the cooperative, with voting rights in significant organizational decisions and benefits flowing back to members through competitive rates and community reinvestment.

Valley First Credit Union History Timeline

Understanding the evolution of Valley First provides context for its current position within British Columbia’s financial landscape. The organization has grown from a single credit union serving Penticton into a major regional financial institution through strategic mergers and organic growth, maintaining its commitment to community-based banking throughout its expansion.

1. 1947: Penticton and District Credit Union established in Penticton, British Columbia
2. 1983: Brand officially changed to Valley First, reflecting expansion throughout the Okanagan and Similkameen valleys
3. 1990s: Growth into Kelowna with establishment of additional service locations
4. 2001: Acquired Armstrong Spallumcheen Savings and Credit Union and KCP Credit Union in Kamloops
5. 2008-2009: Merger negotiations with Envision Financial from Langley approved by members
6. 2010: First West Credit Union officially formed on January 1, combining Valley First and Envision Financial
7. 2013: Enderby and District Credit Union joins the First West family
8. 2015: Island Savings becomes the latest division to join First West Credit Union
9. 2020s: Expansion of digital banking services and federal credit union approval process
10. Recent: Transition to operating as division of Tru Cooperative Bank following federal regulatory approval

Key Facts versus Common Misconceptions

Several misunderstandings exist regarding Valley First’s structure, services, and eligibility. Clarifying these points helps prospective members understand what the credit union actually offers and how it operates within British Columbia’s financial sector.

Background and Industry Context

Valley First operates within British Columbia’s credit union system, which represents a significant segment of the province’s financial services industry. Credit unions in Canada differ from traditional banks in their member-owned structure, where customers are simultaneously owners of the cooperative and benefit from profits being reinvested into services, competitive rates, and community development. The credit union movement has particular strength in British Columbia, with institutions like Valley First competing against larger national banks while serving communities that value localized banking relationships and community reinvestment.

The transition to federal credit union status represents a significant development for First West Credit Union and its divisions including Valley First. This regulatory change allows the organization to operate more flexibly across provincial boundaries while maintaining its cooperative values and community focus. The affiliation with Central 1 Credit Union, a major financial services provider for credit unions in Canada, further enhances the organization’s capabilities in payments, banking technology, and risk management.

Community involvement remains central to Valley First’s identity, with the organization demonstrating its commitment through substantial charitable giving. In 2024 alone, the organization provided $1,062,358 in grants through endowment programs, supporting local initiatives in the communities it serves. This community investment philosophy aligns with the credit union’s stated purpose of creating a future where everyone can flourish, emphasizing partnerships, volunteerism, and member-focused service delivery.

Sources and References

Information regarding Valley First Credit Union was gathered from publicly available sources including the organization’s official website, Wikipedia documentation of First West Credit Union’s history, and business directory information. Regulatory information was cross-referenced with Credit Union Deposit Insurance Corporation of BC documentation. Community involvement figures were obtained from Valley First’s published materials regarding endowment grants.

“Together we can create a future where everyone can flourish.”

— Valley First Credit Union mission statement

The organization’s transition to operating under Tru Cooperative Bank following federal credit union approval represents the most significant recent structural change, reflecting broader trends in Canada’s cooperative financial sector toward increased operational flexibility while maintaining cooperative principles. For those interested in understanding financial options in Canada, Valley First represents one option within the diverse landscape of Canadian financial institutions serving British Columbia residents.

Summary

Valley First Credit Union, operating as a division of Tru Cooperative Bank, represents a major financial institution in British Columbia with roots dating back to 1947. Serving over 250,000 members through approximately 45 branches across the province, the organization offers comprehensive banking services including chequing, savings, mortgages, and insurance products. As a member-owned cooperative, Valley First prioritizes community reinvestment and personalized service, competing with larger financial institutions while maintaining local brand identity within the Okanagan Valley and surrounding regions. The credit union’s transition to federal status and rebranding as a Tru Cooperative Bank division reflects ongoing evolution in Canada’s cooperative financial sector while preserving the community-focused values that have characterized the organization throughout its history. For those seeking information about financial matters in Canada, Valley First exemplifies the credit union model that provides British Columbians with competitive alternatives to traditional banking services.

Frequently Asked Questions