CDIC welcomes Tru Cooperative Bank

OTTAWA – April 1, 2026 – The Canada Deposit Insurance Corporation (CDIC) welcomes Tru Cooperative Bank (formerly First West Credit Union) to its membership.

As provincial deposit insurance for Tru Cooperative Bank has ended, CDIC now provides transitional coverage for 180 days. During this time, your eligible deposits made before April 1, 2026, will continue to receive the same coverage that was offered by the Credit Union Deposit Insurance Corporation of British Columbia. For term deposits, such as Guaranteed Investment Certificates (GICs), it will extend until the deposit reaches maturity or is cashed out. For demand deposits, such as chequing and savings accounts, the coverage remains in effect for the duration of the transition period.

At the end of the transition, all eligible deposits held at Tru Cooperative Bank, as well as any new deposits made on or after April 1, 2026, will receive CDIC’s protection of up to $100,000 for each deposit category.

Tru Cooperative Bank, formerly First West Credit Union, is a British Columbia headquartered financial institution with approximately 1,300 staff across 45 advice centre locations. The federal credit union serves over 289,000 members and has over $20 billion in total assets and assets under administration.

CDIC is a federal Crown corporation, established by Parliament in 1967. We protect people’s insured deposits and contribute to financial stability by safeguarding over $1 trillion in deposits at more than 80 member institutions. As resolution authority, we are responsible for handling the failure of our members, from the smallest to the largest. Our members include banks, federally regulated credit unions, as well as trust and loan companies. We are funded by premiums paid by member institutions and do not receive public funds to operate. We have resolved 43 member failures to date, affecting some two million depositors. No one has ever lost any money under CDIC protection.