Community Savings Credit Union Surpasses $1 Billion in Assets
December 3rd, 2025 Vancouver, BC / Unceded Territories of the Musqueam, Squamish and Tsleil-Waututh Nations. Community Savings is proud to announce a significant milestone in its growth, surpassing $1 billion in assets.
The credit union has doubled its asset size since 2019, reflecting its growing membership and the strength of its social purpose. This financial milestone represents $1 billion of impact in the communities where it operates, through its products, its member service, and its team.
Mike Schilling, President and CEO, said: “This milestone reflects the confidence our members have in us, as record numbers of members join our credit union and as existing members trust us with more of their financial decisions.
In 1944, our credit union was formed by union workers who couldn’t get financing from traditional banks. Today we remain as committed as ever to building a fair financial system for the people who deserve it the most."
Phillip Legg, Board Chair, said: “As Community Savings has grown and innovated, we have remained committed to our values. We are proud to achieve our growth while offering a best-in-class collective agreement with an innovative cost-of-living clause to protect Community Savings’ employees from rising costs, and continually fighting to make financial services fairer for working people.
Our growth is testament to our team and our membership, who believe deeply in the power and promise of credit unions.”
Community Savings sets out to make a difference in the lives of its members and working people in BC, through excellent member service and innovative financial products, including an equitable payday loan solution, free financial life skills training, and the largest registered education savings account opening cash bonus in BC to help families save for education.
Community Savings has a rich history of bringing communities together to create meaningful change. For example, over the past year, Community Savings has expanded its ‘community of communities’ model. Its newest branch, AnXin Community Savings, is the first initiative dedicated to serving Chinese-language communities in Greater Vancouver, and Aria Savings is the first and only credit union division in Canada for Persian and Farsi-speaking communities. Community Saving is also proud to be the largest banking partner for the cannabis industry in BC.
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.
