Prospera is proposing to continue federally for the purposes of immediately merging with Coast Capital and Sunshine Coast credit unions. Find out more here.
For full details about changes in deposit insurance, see the Notice Pursuant to the Disclosure on Continuance Regulations.
A Special General Meeting will be held in person on July 8, 2025, to submit to members a Special Resolution on Prospera’s proposed federal continuance and merger. Read the official notice here.
For full details about changes in deposit insurance, see the Notice Pursuant to the Disclosure on Continuance Regulations.
A Special General Meeting will be held in person on July 8, 2025, to submit to members a Special Resolution on Prospera’s proposed federal continuance and merger. Read the official notice here.
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Prospera, Coast Capital and Sunshine Coast credit unions announce intent to merge, creating Canada’s largest national purpose-driven credit union
Joining together to power the future for all of us
We’re excited to share we’re planning to merge with Coast Capital and Sunshine Coast credit unions. By coming together, we’ll have the strength to do more for our members, employees and communities than ever before.
With our newly combined credit union based in BC, we expect to support you better than ever—accelerating investments in more competitive products and services, enhanced digital banking and tools and initiatives that strengthen and uplift local communities. It’s important to remember that even as a national credit union, we’ll still be the same local, friendly team you know and trust.
In the coming weeks, we’ll share more details about our plans and why we believe we’re stronger together. As a valued member, you’ll have the opportunity to vote and have your say, too. In the meantime, you can find more information here.
We encourage you to take the time to learn more about the proposed merger between Prospera, Coast Capital and Sunshine Coast credit unions and how together we’ll deliver greater impact for our members, employees and communities—today and for generations to come.
By coming together, we’ll have the strength to do more for our members, employees, and communities than ever before. Together, our members can expect:We’re building a credit union to power the future for all of us.
Have your say. Prospera members will have the opportunity to vote to decide whether we should merge to form one combined federal credit union. As part of this, Prospera and Sunshine Coast members will vote to allow their credit unions to apply to continue as federal credit unions for the purpose of completing the merger immediately afterwards.- More competitive products and services
- Personalized advice from the same familiar faces at our branches
- Access to more than 70 branches across BC
- Enhanced digital banking
- Greater community support
Special General Meeting
Prospera, Coast Capital and Sunshine Coast credit unions will each hold a Special General Meeting (SGM). Before the SGMs take place, voting on the continuance and merger will occur.The SGM for the members of Prospera will be held in person on July 8, 2025, at the Civic Hotel (13475 Central Avenue, Surrey, BC) at 1 pm. In-person voting will be available at the SGM on July 8.
Prospera members are encouraged to vote online from June 24 at 9 am to June 30 at 5 pm. To learn more about voting visit prosperavote.ca.
The results of the Special Resolution will be announced at the SGM and are expected to be posted on powerthefuture.ca and prospera.ca by July 8, 2025.
Open house and coffee chat schedule
Member Open Houses
Registration opens at 6 pm, 6:30 pm start.June 5, 6:00 pm – 7:30 pm: Abbotsford branch (34630 Delair Rd)
June 11, 6:00 pm – 7:30 pm: Kelowna branch (100-2106 Harvey Ave)
June 17, 6:00 pm – 7:30 pm: Newton branch (500-7488 King George Blvd)
Virtual Open House: June 18
Registration opens at 6:15 pm, 6:30 pm start.More details on how to register to come.
Branch Coffee Chats
Coffee chats are available for a more intimate conversation with members of our executive team and will be available during two time slots:Morning: 10:00 am – 12:00 pm
Afternoon: 2:00 pm – 4:00 pm
Still have questions?
Visit powerthefuture.ca for FAQs and more information regarding our proposed continuance and merger. Voting information is available on prosperavote.ca. We invite you to join one of our open houses or branch coffee chats to learn more and ask questions directly to Prospera's executive team.For other inquiries, please email merger@prospera.ca with your query. We're here to help.
Frequently asked questions
This FAQ reflects the most up-to-date information available about our merger plans. As merger discussions are finalized, these answers may be updated accordingly.Why are Prospera, Coast Capital and Sunshine Coast credit unions planning to merge?
Prospera, Sunshine Coast Credit Union and Coast Capital are purpose-driven credit unions who share the same values of helping people and communities thrive. We each have an 80-year legacy and proven track record of improving members’ financial well-being—and we aspire to do even more. This merger will strengthen our ability to continue to make a meaningful impact for members, employees and communities and build resilience for cooperative banking in Canada.
What are the expected benefits of the merger?
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
Will the merged credit union be provincially or federally regulated?
Prospera and Sunshine Coast 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.
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.
What will members be asked to vote on?
Prospera and Sunshine Coast 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.
Voting results are expected to be announced on our merger microsite and the websites of all three credit unions by July 8, 2025.
Voting results are expected to be announced on our merger microsite and the websites of all three credit unions by July 8, 2025.
What will the name of the merged credit union be?
The new credit union will continue to use the trusted and familiar Prospera, Coast Capital and Sunshine Coast brand names, so you can bank with us as you normally would. As Coast Capital is already federally regulated, the legal name of the new credit union will be Coast Capital Savings Federal Credit Union for the time being.
What will happen to member accounts and banking services?
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, Fraser Valley, 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.
As always, we are committed to minimizing any disruptions and keeping our members informed well in advance of any changes.
Will some branches close? Will I still see the same employees in branches?
In the short term, there will be no changes to our branch locations, and members can bank as they normally would. Our same friendly employees will still be there to help our members in our branches.
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 more than 70 locations. Any changes will be made with our members’ needs in mind and will be communicated well in advance.
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 more than 70 locations. Any changes will be made with our members’ needs in mind and will be communicated well in advance.
Will local needs still be supported?
Absolutely. You can continue to confidently rely on an exceptional banking experience with the same friendly people you know.
Prospera, Sunshine Coast Credit Union 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.
Prospera, Sunshine Coast Credit Union 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.
How will local communities benefit?
We’re proud of our credit union roots, and our dedication to our local communities is unwavering. Over the past five years, Prospera, Coast Capital and Sunshine Coast 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.
Our community investments will continue and as a combined credit union, we’ll maintain and deepen our commitments to local community support and investment.
Will Prospera, Coast Capital and Sunshine Coast credit unions each hold an Annual General Meeting later in 2025?
Yes, Prospera, Coast Capital and Sunshine Coast credit unions will each hold an Annual General Meeting (AGM) later in 2025. Before the AGMs take place, voting on continuance and the merger will occur.
In the meantime, Coast Capital members can access the audited financial statements here. Prospera and Sunshine Coast Credit Union's audited financial statements will be posted to their websites prior to their respective 2024 Financial Highlights webinars on July 8, 2025.
What are the next steps? When can I expect more information?
As a member you have a say. Prospera and Sunshine Coast 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.
We’re committed to keeping our members updated throughout this process and look forward to sharing more information soon.
As always, we’re here to help.
If you have any questions, please feel free to contact us.
For now, it’s business as usual and you can continue to bank with us as you normally would.
We’re committed to keeping our members updated throughout this process and look forward to sharing more information soon.
As always, we’re here to help.
If you have any questions, please feel free to contact us.
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