VANCOUVER ISLAND – Coastal Community Credit Union (CCCU) continues its position as a strong and stable business leader on Vancouver Island with news that it’s reached $2 billion in assets on the Credit Union’s balance sheet.
This number jumps to $2.5 billion when off-balance sheet assets from CCCU’s wealth management subsidiary, Coastal Community Financial Management Inc., are included. CCCU, first formed 70 years ago in 1946, has grown to become the largest financial institution based on Vancouver Island and the Gulf Islands and remains among the largest credit unions in B.C. when measured by asset size.
For Coastal Community’s 600-person-strong employee team, reaching $2 billion in assets represents more than just a financial milestone. “It reflects the deep roots, strength and stability that’s made Coastal Community what it is today—a core part of our communities, a key contributor to the Island’s economic prosperity, and a trusted financial services provider to over 100,000 Islanders and their families,” says Adrian Legin, CCCU’s President and CEO.
A strong asset base is also what helps Coastal Community do great things for those it serves and the communities it’s rooted in. CCCU’s strong financial foundation helped enable several key initiatives from the past 12 months including the opening of two new full service locations in Victoria, complete with extended service hours through their Interactive Teller Machines.
Member satisfaction ratings remain extremely strong and so does the feedback CCCU receives for its community support. In 2015 alone, upwards of half a million dollars was invested by the Credit Union into building healthier Island communities, while employees generously gave over 5,000 in volunteer hours.
Says Legin about CCCU’s $2 billion milestone, “We’re thrilled that an Island-strong business with a rich and proud legacy like ours has achieved such an impressive measure of success. Building on this, we remain focused on the future and can’t wait to see what it will bring Coastal Community and the greater ripple effects it will have on our communities on Vancouver Island and the Gulf Islands.”
