LANGLEY, B.C.— First West Credit Union has released its first-ever Impact Report, showcasing how the member-owned cooperative is balancing financial performance with meaningful social, environmental and community impact across British Columbia.
The organization contends FIs have a responsibility to demonstrate how they contribute to the communities they serve.
The 2024 Impact Report spans five key areas—community impact, workforce development, business operations, impact strategy, and climate action—highlighting initiatives that support inclusive hiring, sustainable finance, food security, Indigenous reconciliation, and alignment with six UN Sustainable Development Goals.
Through a blend of data, storytelling, and strategic vision, the report demonstrates how First West is creating lasting value for its members, employees, and communities across British Columbia, the CU said.
“At First West, we believe banking can and should be a catalyst for positive change,” said Launi Skinner, CEO at First West Credit Union. “This inaugural Impact Report reflects our unwavering commitment to building a future where everyone can flourish—through inclusive financial services, meaningful community partnerships, and bold action on sustainability.”
Significant Community Investment
In 2024, First West deepened its investment in community impact. Here are some of the report’s highlights:
- $3.1 million+ invested in community initiatives addressing food insecurity, mental health support, financial literacy and employment readiness
- 83 organizations supported through strategic partnerships
- 6,831 volunteer hours contributed by team members
- $5.5 million committed to impact investments supporting affordable housing, climate technology and social enterprises
- Alignment with 6 UN Sustainable Development Goals providing a clear framework for global and local impact
Purpose-Driven Partnerships Creating Real Change
The report highlights successful local partnerships across First West's regional brands, including:
- Island Savings' partnership with Clements Centre for Families in Duncan, supporting independence for individuals with developmental disabilities and expanding to include The Mindful Mouthful social enterprise bakery
- Envision Financial's support of Mackie's Place in Surrey, providing $23,000 to open a café where at-risk youth receive barista training and develop essential workplace skills
- Valley First's collaboration with Kelowna-based Purppl’s Impact & Leadership Development Program which supports over 40 non-profits, charities and social purpose organizations through customized capacity-building programs
First West noted the report was developed following extensive consultation with members and team members through focus groups, surveys, and interviews conducted in 2023 to better understand their perspectives on environmental, social and governance priorities.
Accountability For Future Impact
The inaugural Impact Report establishes baseline metrics and will serve as a “living tool” to guide future priorities and decision-making, the organization stated.
"Financial institutions have a responsibility to demonstrate how they contribute to the communities they serve," Skinner added. "This Impact Report holds us accountable to our members and shows the tangible outcomes of our efforts to building a more inclusive, sustainable financial future.”
The full Impact Report is available at www.firstwestcu.ca/impactreport.