VANCOUVER, British Columbia and POWELL RIVER, British Columbia, Nov. 19, 2025 (GLOBE NEWSWIRE) — Vancouver City Savings Credit Union (Vancity) and First Credit Union (FCU) today jointly announced that First Credit Union members have voted in favour of the proposed merger between the two credit unions. The vote, held between November 12th and 18th, paves the way for the creation of a combined entity that will deliver enhanced member value, expanded services, and an even greater positive impact on communities.
“We are grateful for our members’ engagement in this democratic process and for their shared vision of the potential this partnership holds,” said Linda Bowyer, CEO of First Credit Union. “This merger represents a thoughtful alignment of our cooperative values and a collective commitment to building a more resilient, innovative, and member-centric financial institution. We are excited to bring together the strengths of both organizations to serve our combined membership.”
The merger is a strategic, values-driven partnership driven by a shared vision to preserve and enhance community cooperative banking across the province. Unlike traditional mergers which are often focused on immediate cost savings, this merger will serve as a blueprint for like-minded institutions to effectively combine resources while safeguarding local identity and the personal service standards members have come to expect.
Wellington Holbrook, CEO of Vancity, added, “This is a truly historic moment for the cooperative movement in British Columbia. The strong ‘yes’ vote from First Credit Union members reflects a shared vision for a future where we can achieve even greater impact together. By uniting with First Credit Union, we are poised to enhance our services, expand our reach, and deepen our commitment to the communities we serve, all while upholding the cooperative values that define us.”
The merger is expected to bring a host of benefits to members, employees, and communities, including:
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More Innovative Services & Greater Convenience: Access a wider range of financial products and services designed to meet members’ evolving needs, complemented by a larger combined branch network across BC, enhanced digital tools, and robust security measures for a truly seamless and secure banking experience.
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Amplified Community Impact: An even stronger capacity to invest in local initiatives and support the social and environmental causes important to our communities.
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A Stronger Future: Building a more resilient and sustainable credit union to serve members for generations to come.