Island Savings, A Division of Tru Cooperative/First West Credit Union
Together, we create a future where everyone can flourish
Overview
No detailed description available.
Founded
2010
Members
283000
Assets
$14 billion
Branches
13
Current Rates
Verified (Official Source)· Last checked Apr 16, 2026 (2d ago)
High Interest Savings0.64%up to
1-Year GIC3.01%
3-Year GIC3.31%
5-Year Fixed Mortgage4.29%
GIC Rate Ladder
| Term | Rate |
|---|---|
| 1-Year GIC | 3.01% |
| 3-Year GIC | 3.31% |
| 5-Year GIC | 3.41% |
Pros
- • Competitive GIC rates (3.01% on 1-year terms)
- • Solid mobile and online banking with Interac e-Transfer
- • Surcharge-free ATM access through THE EXCHANGE Network
- • Large membership base (283000 members) — financially stable and well-resourced
Cons
- • Smaller institution — fewer specialized product tiers than major banks
Best For
Residents of BC looking for a local banking alternativeMembers wanting full-service banking with investment options
Products & Accounts
Chequing
Savings
GICs
RRSP
TFSA
RRIF
Mortgages
Personal Loans
Credit Cards
Business
Investments
Insurance
Membership Eligibility
StatusRestricted
Requirements:
British Columbia residents
Open to residents of British Columbia. Membership requires purchase of a membership share.
Membership Share (Fee)$5 share purchase
Deposit Protection
Insuring Body
CDIC
Coverage Limit
$100,000 per category
As a federal credit union, Island Savings is insured by CDIC (Canada Deposit Insurance Corporation) at $100,000 per eligible category.
Digital & Access
- Mobile App
- Online Banking
- Interac e-Transfer
- ATM NetworkTHE EXCHANGE Network
- Digital Ratinggood
About This Data
Rate and eligibility data is gathered from official credit union websites and verified comparison sources. Always verify rates directly on the official website before making financial decisions.
Official Website