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Prospera Credit Union
Company type	Credit union
Industry	Financial services
Predecessors	Edelweiss Credit Union; Fraser Valley Credit Union;
Founded	2002
Headquarters	Surrey, British Columbia, Canada
Number of locations	24 (2024)
Area served	Lower Mainland, Fraser Valley, and Okanagan, British Columbia, Canada
Key people	Gavin Toy (president and CEO); Gina Arsens (chair);
Total assets	C$7.53 billion (2023)
Members	115,634 (2023)
Website	prospera.ca

Prospera Credit Union is a Canadian credit union in British Columbia. It was formed in 2002 as a merger of Edelweiss Credit Union, an originally German-Canadian credit union founded in 1943, and Fraser Valley Credit Union, founded in 1949.^[3] It merged with Westminster Savings Credit Union in 2020.^[4] As of 2023,^[update] the credit union had 115,634 members and C$7.53 billion in assets.^[5] Prospera is one of the largest credit unions in British Columbia and is headquartered in Surrey, British Columbia. It currently has 24 branches across the Lower Mainland, the Fraser Valley, and the Okanagan.^[5]^[6]

Services

Prospera offers financial services including savings and chequing accounts, loans, mortgages, investment products and insurance.

History

The original Prospera Credit Union traces its roots back to 1943, when it was originally founded as Edelweiss Credit Union.^[3] Over the years, it underwent several mergers and expansions, ultimately being renamed to Prospera in 2002, after a merger with Fraser Valley Credit Union. This name was chosen to reflect its commitment to fostering financial prosperity for its members.^{[citation needed]}

Established more than 70 years ago, before merging with Prospera in 2019,^[4] Westminster Savings Credit Union (WSCU) provided retail, commercial and wealth management to its members across metropolitan Vancouver, including online and mobile banking services, access to global ATM networks and extended banking service through the contact centre.

Community involvement

Prospera participates in various community initiatives and charitable activities through annual giving, as well as through meaningful community partners with the Prospera Foundation.^[7] This includes sponsorships, financial literacy programs and partnerships with local organizations to enhance the overall well-being of communities.

In 2023, Prospera Credit Union committed more than $1 million^[8] to charitable organizations and community partners across British Columbia.

This includes more than $480,000^[8] in grants from the Prospera Foundation to eight local charities, including Special Olympics BC, the HeadHeartHand Foundation and Mamas for Mamas, Kelowna.

Another $500,000^[8] was distributed through corporate donations and sponsorships, supporting worthy causes and charitable organizations such as Big Sisters of BC Lower Mainland, Archway Community Services and Accelerate Okanagan.

Membership

Prospera operates on a cooperative model, with its members being its owners. Membership is open to individuals, businesses and organizations in the region.

Branches and ATMs

Prospera has a network of 24 branches^[9] located in the Lower Mainland, Fraser Valley and Okanagan regions of British Columbia. Additionally, the credit union maintains a network of ATMs to further facilitate easy and accessible banking for its members along with providing access to over 4000 ding free EXCHANGE Network ATMs across Canada.