Community Savings Credit Union announces $7.3 Million Capital Raise
December 18th, 2025 Vancouver, BC / Unceded Territories of the Musqueam, Squamish and Tsleil-Waututh Nations. Community Savings today announced it has closed a $7.3 million capital raise, strengthening its financial position and enabling its continued growth as one of BC’s fastest-growing credit unions through its equitable banking for working people.
The capital raise is a strong endorsement from the province’s organized labour movement. It reflects confidence in Community Savings’ strategy to deliver financial products and services to working people in our communities and unions. This 14% increase to capital will advance Community Savings’ position to help more working people buy their first homes, support more households with financial advice in their best interest, and enable small businesses to grow, advancing economic growth in our communities.
The capital raise was led by key member unions Local 213 Electrical Workers’ Welfare & Pension Plan, UFCW Local 1518, IUOE Local 115, HEU, and BC Insulators Local 118.
Mike Schilling, President and CEO, Community Savings Credit Union, said: “This investment from our union partners is the largest increase to our credit union’s capital position in our 81-year history. It is a powerful endorsement of our purpose, the cooperative model we champion, and our vision of delivering practical, worker-first financial solutions and programs that directly support unions and working people across BC.”
Founded by working people in 1944, Community Savings provides banking services to a majority of unions and union members across BC. Today it offers a full range of banking services to all British Columbians across seven branches. It provides specialized tailored financial products and services including an interest-free line of credit to help with startup or transition costs of training or a new career, and customized financial life skills training for union workplaces. Through its Union Asset Management division, Community Savings provides values-aligned fund management for union pensions, benefits, and other investments.
Community Savings welcomes inquiries from future members interested in learning more about its products and programs. For more information, visit www.comsavings.com or visit any of their seven branches.
About Community Savings:
Community Savings Credit Union is driven by its purpose to unite working people to build a just world. As Canada’s largest fully unionized credit union, Community Savings provides best-in-class personal and business banking for all British Columbians.
Community Savings operates seven branches across the Lower Mainland and Victoria. It lives by its values, from being the first financial institution to become a Living Wage employer in 2010 to being a finalist for the 2025 Social Purpose Company of the Year at the Greater Purpose Awards. For more about Community Savings, visit www.comsavings.com.
