Mergers in the credit union industry are becoming increasingly common. In a rapidly evolving world, we know our members need a trusted financial partner who is invested in their success and can meet their changing needs quickly. As a combined credit union, we expect to better support you by speeding up and advancing our investments in: 

• More competitive products and services 
• Personalized advice and specialized expertise   
• Improved member experience, including access to more branches  
• Enhanced digital banking tools and technology  
• Community initiatives that create greater impact in your local community 

Together, we’ll preserve and evolve the unique value of cooperative banking—people helping people, local perspective and community investment. 

Sunshine Coast and Prospera credit unions currently operate under BC provincial regulation. They will transition to federal regulation in a process called continuance and then immediately merge with Coast Capital to become a BC-headquartered, federally regulated credit union. This will provide important benefits, including the ability to serve business and personal banking members as they move and grow outside BC.  

 
There are differences between the provincial and federal regulatory frameworks. More details about these differences will be shared with members as part of the information provided for voting. 
 

It’s important to know that even as a national purpose-driven credit union, we’ll still be the same local, friendly team you know and trust. 

This merger is about making banking better for our members. We’ll continue to offer a full suite of products and services for personal, business and wealth members. Over time, we’ll combine our banking systems and services, giving you convenient access to more than 70 branches across the Lower Mainland, Vancouver Island, the South Sunshine Coast and in the Okanagan. 

As always, we are committed to minimizing any disruptions and keeping our members informed well in advance of any changes. 

There will be no branch closures on the Sunshine Coast as a result of the merger. Our same friendly employees will still be there to help our members in our branches and members can bank as they normally would.  

After the merger is completed, we will gradually review consolidating our few overlapping locations in the Lower Mainland. This will only take place after our technology is integrated, so that our members will have the ability to be served at any of our 70+ locations. Any changes will be made with our members’ needs in mind and will be communicated well in advance. 

Absolutely. You can continue to confidently rely on an exceptional banking experience with the same friendly people you know.  
 
Sunshine Coast Credit Union, Prospera and Coast Capital are purpose-driven credit unions who share the same values of helping people and communities thrive.  

 
We’re all proud of our strong, cooperative credit union roots, and that will never change. We were built by members, for members, and we’ll always have your best interest at heart. 

We’re proud of our credit union roots, and our dedication to our local communities is unwavering. Over the past five years, Sunshine Coast, Prospera and Coast Capital credit unions have collectively provided more than $30 million to local communities.  

Our community investments will continue and as a combined credit union, we’ll maintain and deepen our commitments to local community support and investment. 

As a member you have a say. Sunshine Coast and Prospera credit unions’ members will vote on both the continuance and the merger. As Coast Capital is already federally regulated, its members will only vote on the merger. If the vote is successful, we will then seek regulatory approvals. In the coming weeks, we’ll share more information with you about our plans and why we believe our credit unions are stronger together. 

For now, it’s business as usual and you can continue to bank with us as you normally would.  

As always, we’re here to help. Talk to us in-branch, by email: inquiries@sunshineccu.net or by phone: 604 740-2662. 

We’re committed to keeping our members updated throughout this process and look forward to sharing more information soon.