Institution profile · Federal credit union
Tru Cooperative Bank
RenamedTru Cooperative BankCDIC
Tru Cooperative Bank is the former First West Credit Union, which became a federal credit union on April 1, 2026. It uses the Envision Financial, Island Savings, Valley First and Enderby & District Financial names.
Profile facts checked October 30, 2026
Mitey files the Tru Cooperative Bank index card: cheapest everyday account $536 a year.
Is Tru Cooperative Bank a good bank for everyday banking?
Tru Cooperative Bank’s cheapest chequing account open to anyone, Tru Essentials Chequing @ Envision Financial, costs $536 a year for a typical household (25 debit purchases, 6 bills and 5 e-Transfers a month), $177 above the national median of $359. Its best posted savings rate is 0.64% on $10,000. Eligible deposits are CDIC-insured to $100,000 per category.
Formerly First West Credit Union; continued as a federal credit union named Tru Cooperative Bank on April 1, 2026.
At a glance
- Legal name
- Tru Cooperative Bank
- Type
- Federal credit union
- Head office
- British Columbia
- Regulator
- Office of the Superintendent of Financial Institutions (OSFI) for safety and soundness; Financial Consumer Agency of Canada (FCAC) for consumer protection
- Cheapest everyday account
- Tru Essentials Chequing @ Envision Financial — $536 a year for the Everyday example
- Best posted savings rate
- 0.64% on $10,000 (High Interest Savings @ Envision Financial)
- Website
- www.trucooperativebank.ca
Is my money safe at Tru Cooperative Bank?
CDIC member as a federal credit union, with transitional coverage for eligible deposits made before April 1, 2026.
Names CDIC lists for this member: Enderby & District Financial, Envision Financial, Island Savings, Valley First.
What do Tru Cooperative Bank’s chequing accounts cost?
Tru Cooperative Bank lists 3 chequing accounts with FCAC. For our “Everyday” example (25 debit purchases, 6 bills, 5 e-Transfers and a $1,000 low balance a month), the cheapest account open to anyone is Tru Essentials Chequing @ Envision Financial at $536 a year. Accounts limited to a group are marked.
| Account | Monthly fee and waiver | Included | Fees a year |
|---|---|---|---|
| Tru Essentials Chequing @ Envision Financial | No monthly fee | 12 a month | $536 |
| Tru Essentials Chequing @ Island Savings | No monthly fee | 12 a month | $536 |
| Tru Essentials Chequing @ Valley First | No monthly fee | 12 a month | $536 |
- Tru Essentials Chequing @ Envision Financial$536
- Tru Essentials Chequing @ Island Savings$536
- Tru Essentials Chequing @ Valley First$536
- Cheapest in Canada: Personal Account · EQ Bank$0
- Median nationwide account$359
What would Tru Cooperative Bank cost a typical household?
The cheapest Tru Cooperative Bank account open to anyone for each of our four usage profiles, against the cheapest account in Canada for the same banking. Profiles are defined in the finder.
| Profile | Cheapest at Tru Cooperative Bank | Fees/yr | Cheapest in Canada | Fees/yr |
|---|---|---|---|---|
| Light Mostly card and app, small balance | Tru Essentials Chequing @ Envision Financial | $130 | PC Money Account PC Financial | $0 |
| Everyday Household account, a few e-Transfers | Tru Essentials Chequing @ Envision Financial | $536 | Personal Account EQ Bank | $0 |
| Heavy Lots of card, bill and e-Transfer payments | Tru Essentials Chequing @ Envision Financial | $1,174 | Personal Account EQ Bank | $0 |
| Branch and cheques Teller visits, cheques, paper statement | Tru Essentials Chequing @ Envision Financial | $207 | Basic Bank Account Scotiabank | $134 |
Worked example — Tru Essentials Chequing @ Envision Financial (Tru Cooperative Bank), Everyday profile
| Monthly fee × 12 | $0 |
| Transactions beyond the included number (31 a month) × 12 | $506.04 |
| Other-bank ATM access fees (1 a month) × 12 | $30 |
| Paper statements × 12 | $0 |
| Fees a year | $536.09 |
Our take
Tru Cooperative Bank costs more than most for everyday use. Moving to the cheapest account in Canada would save about $536 a year.
What savings rates does Tru Cooperative Bank pay?
| Account | Rate at $10,000 | Monthly fee |
|---|---|---|
| High Interest Savings @ Envision Financial | 0.64% | No monthly fee |
| High Interest Savings @ Island Savings | 0.64% | No monthly fee |
| High Interest Savings @ Valley First | 0.64% | No monthly fee |
| Savings First @ Envision Financial | 0.3% | No monthly fee |
| Savings First @ Island Savings | 0.3% | No monthly fee |
| Savings First @ Valley First | 0.3% | No monthly fee |
Is Tru Cooperative Bank on the official lists?
| Legal entity | OSFI list | CDIC member |
|---|---|---|
| Tru Cooperative Bank | OSFI — domestic bank (federal credit union) | Yes |
What else should you know about Tru Cooperative Bank?
- Letters patent continued First West Credit Union as a bank named Tru Cooperative Bank, with an order to commence business, both effective April 1, 2026.Source: gazette.gc.ca
- CDIC lists its names as Envision Financial, Island Savings, Valley First and Enderby & District Financial.Source: cdic.ca
- First West announced its launch as Tru Cooperative Bank, a federal credit union.Source: trucooperativebank.ca
Your own pattern can change the order. Put your numbers into the true-cost finder to rank Tru Cooperative Bank’s accounts against everyone else’s.
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