Gavin Toy
SURREY – A merger between Prospera, Coast Capital and Sunshine Coast Financial has created the Coast Capital Savings Federal Credit Union family, effective May 6.
The merger follows the completion of all regulatory approvals and strong member support across all three credit unions. Combined, they have over $40 billion in assets under administration, 2,500 employees, 730,000 members and 70 branches throughout B.C.
Gavin Toy is President and CEO of the combined credit union, with the executive leadership team also appointed. Operating as Coast Capital Savings Federal Credit Union, the organization will continue to use the Prospera, Coast Capital and Sunshine Coast brands.
“Today is about more than scale. It’s about impact,” says Toy. “By coming together, we strengthen our ability to meet members’ evolving needs, support their long-term financial aspirations, and deliver a modern, cooperative alternative to the big banks. This merger positions us to invest more deeply in competitive products, leading edge digital experiences and the communities we serve–while paving the way for future credit union partnerships.”
Bob Armstrong is Chair of the Board of Directors, and he notes “This milestone reflects the confidence that our members and employees placed in this vision. Their trust, engagement and support made this merger possible, and we’re deeply grateful as we begin this next chapter together–stronger, more resilient and rooted in cooperative values.”
With the merger now legally complete, the combined credit union is focusing on integration activities including expanded branch access, new career opportunities and deeper community impact.
Coast Capital Savings Federal Credit Union is now Canada’s largest national purpose-driven credit union. For over 85 years, their components have been a social purpose organization and Certified B Corporation™. Over the last two decades, they’ve invested more than $135 million into the communities they serve.
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