Westminster Savings Credit Union

What Westminster Savings Credit Union does

Westminster Savings Credit Union operates in the Canadian retail and small-business financial-services market under the brand name "Prospera," which it now does business as following its 2024 merger with Coast Capital Savings Federal Credit Union. The legal operating entity is Coast Capital Savings Federal Credit Union, a cooperative financial institution headquartered in Surrey, British Columbia, with 501-1,000 employees. Across its three lines of business — Personal Banking, Business Banking, and Wealth Management — it serves individual members, small and medium-sized businesses, and wealth-management clients.

The platform spans core retail banking products (tiered chequing and savings accounts, six Visa credit-card SKUs, fixed and variable mortgages, personal loans and lines of credit, term deposits, and registered plans including RRSP, TFSA, RESP, RDSP, RRIF, and FHSA) as well as business banking (business chequing tiers, commercial mortgages, operating lines of credit, leasing, payroll, and merchant card acceptance via Clover POS). Wealth services are delivered through a hybrid advisory and self-directed model: investment specialists and advisors provide retirement, estate, and business-owner planning, while Qtrade Direct Investing and Qtrade Guided Portfolios handle self-directed and managed investing. Insurance is offered through licensed advisors. The technology stack consists of online and mobile banking channels, an advanced business online platform, and third-party integrations with OFX for international money transfers, CardWise for credit-card management, NEI for responsible investing, and Aviso eServices for advisory back-office. Distribution is regional — 24 physical branches across the Lower Mainland, Fraser Valley, and Okanagan — augmented by 4,000+ ATMs nationally via the ding-free network and digital channels. The cooperative, member-owned structure means ownership is held by members rather than external shareholders, with no public ticker, no disclosed revenue, and no third-party venture or private-equity ownership indicated.

Revenue is generated across five streams: net interest income from lending products (mortgages, personal, commercial), transaction and account fees, credit-card interchange and revolver interest, distribution economics on investment products (Qtrade, mutual funds), and commissions on insurance products. GTM is direct-to-consumer and direct-to-SMB through branches plus digital onboarding; community-driven marketing combines content (Online Advice Centre, Security Learning Hub), organic social, paid promotional acquisition offers, and event sponsorships. The institution emphasizes local community commitment with $1M+ of annual community investment and 2,300+ employee volunteer hours.

Name

Westminster Savings Credit Union

Legal name

Coast Capital Savings Federal Credit Union

Website

https://wscu.com

Company type

Private

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Westminster Savings Credit Union, operating as Prospera, is a British Columbia cooperative credit union offering personal banking, business banking, and wealth management products through 24 branches and digital channels to retail members, SMBs, and wealth clients across the Lower Mainland, Fraser Valley, and Okanagan regions.

Ownership category

akta.pro rank

Product category

Retail Banking / Credit Union

NAICS

Credit Unions (522130), Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Commercial lending products
• Wealth management services
• Credit union deposits
• Residential mortgages

Headquarters

HQ city

Surrey

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Interest Income: Traditional credit union model generating revenue through interest rate spreads on loans (mortgages, personal loans, business loans) and other credit products
2. Banking Service Fees: Fee-based revenue from account maintenance, transactions, wire transfers, and other banking services
3. Investment Product Distribution: Revenue from distribution of investment products including mutual funds, registered plans (RRSP, TFSA, RESP, RDSP, RRIF, FHSA), and self-directed investing platforms (Qtrade)
4. Insurance Products: Revenue from sale of insurance products including annuities, critical illness, disability, life, and long-term care insurance through licensed advisors
5. Credit Card Operations: Revenue from credit card operations including interchange fees and interest charges on revolving balances

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Westminster Savings Credit Union operates as Prospera, a full-service Canadian credit union providing personal banking, business banking, and wealth management services. Its core offerings include chequing and savings accounts, credit cards, residential and commercial mortgages, personal and business loans/lines of credit, term deposits, registered plans (RRSP, TFSA, RESP, RDSP, RRIF, FHSA), mutual funds, insurance, and self-directed/managed investing via Qtrade, distributed through 24 branches in British Columbia and digital channels.

Product overview

Prospera (Westminster Savings Credit Union) is a full-service Canadian credit union offering a comprehensive banking platform with personal, business, and wealth management divisions. The personal banking suite includes chequing and savings accounts, credit cards (Visa Infinite Cash Back, Visa Infinite, Cash Back Visa, Visa Classic, Centra Visa Gold), mortgages (fixed and variable rate), loans and lines of credit, term deposits, mutual funds, and registered plans (RRSP, TFSA, RESP, RDSP, RRIF, FHSA). Business banking encompasses various chequing accounts, cash management solutions including Clover POS integration, commercial mortgages, loans, leasing, and payroll services. Wealth management provides investment advisors, Qtrade Direct Investing (self-managed) and Qtrade Guided Portfolios (managed), insurance products, and retirement/estate planning. The platform integrates with OFX for money transfers, Qtrade for investing, and Clover for point-of-sale payments.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• $1M+ invested back into local communities annually
• +1 more outcomes

Segments3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Partnerships

Three partnerships are on record, tiered core and minor.

• QtradecoreTechnology or IntegrationQtrade Direct Investing and Qtrade Guided Portfolios provide self-directed and managed investment platform capabilities. Members can access these platforms through Prospera for self-managed investing or guided portfolio management
• NEI (Northwest & Ethical Investments)minorStrategic or Co-development PartnerNEI provides socially responsible investment solutions, enabling Prospera to offer responsible investing options through their wealth management services
• Canada Deposit Insurance Corporation (CDIC)coreOthersCDIC is the federal deposit insurer that provides deposit protection for members. Coast Capital Savings Federal Credit Union (trading as Prospera) is a CDIC member institution

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Desjardins Group: Canada's largest cooperative financial group, operating a full-service retail, business, and wealth platform across multiple provinces. Comparable cooperative ownership structure and full-service model but at national scale.
• TD Canada Trust: One of Canada's Big 5 banks with a deep BC branch network offering personal, business, and wealth banking. Comparable product suite but operates as a publicly traded chartered bank with substantially larger scale.
• RBC Royal Bank: Canada's largest bank with extensive BC retail and commercial presence. Competes directly for the same personal, business, and wealth members with broader product depth and digital investment capacity.

Emerging players

• Tangerine (Bank): Digital-first Canadian direct bank offering chequing, savings, mortgages, and investment products without a branch network. Comparable retail deposit and lending products but competes through a pure-digital low-cost model versus Prospera's branch-based approach.
• Wealthsimple: Canadian digital wealth and investing platform offering self-directed, managed portfolios, and registered plans. Directly comparable to Prospera's Qtrade-based wealth offering but operates as a fintech with national digital reach.

Direct peers

• Coast Capital Savings Federal Credit Union: Parent entity of Prospera following the 2024 merger; one of Canada's largest credit unions offering the same full-service banking, wealth, and insurance platform across BC. Most directly comparable institution given the unified operating model.
• Vancity Credit Union: Largest community credit union in British Columbia, operating a similar full-service personal, business, and wealth platform with a values-driven, member-owned cooperative model. Directly comparable geographic overlap and product suite to Prospera.
• Integris Credit Union: BC community credit union offering personal and business banking, mortgages, and wealth services. Comparable member-owned cooperative model and BC regional footprint.
• BlueShore Financial: BC-based credit union offering full-service personal, business, and wealth management with a premium service positioning. Closely comparable niche in high-touch relationship banking within the same BC geography.
• First West Credit Union: BC-headquartered credit union serving Western Canada with personal, business, and wealth services through a community-banking model. Directly comparable product breadth and member-owned cooperative structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/prosperacreditunion
• Facebookfacebook.com/westminstersavings
• LinkedInlinkedin.com/company/prospera-credit-union
• Instagraminstagram.com/prosperacreditunion
• Xx.com/wscu

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Westminster Savings Credit Union