Skip to main content
map pin icon
Join Us
    transparent-marquee.png

    REGISTERED VARIABLE SAVINGS ACCOUNT

    Benefit from the contribution while deciding on long-term plans for your funds.

     

    Is this savings account right for you?

     Right for you if:

    • You want your funds to be fully accessible
    • You want to earn interest on your registered deposits

     It might not be right for you if:

    • You make regular transactions, bill payments and transfers
    • You are looking for a savings account for non-registered funds

     

    Registered Variable Savings Account Details

    $0 monthly fee

    0.30%* (balances of $0 - $4,999)
    0.30%* (balances of $5,000 - $19,999)
    0.30%* (balances of $20,000 - $49,999)
    0.30%* (balances of $50,000+)

    Electronic transfers between your Island Savings accounts are free & unlimited. No other transactions are included in the monthly package. Free monthly eStatement available in online banking.

    Additional fees

    Transactions over what the monthly package allows and any additional banking services you use may incur a fee. View Personal Service Fees to see our account & service fees.

    View Account Terms and Conditions (PDF)

    Convenience when you need it

    short gold line
    image of hand using a mobile phone

    Pay your bills, check your balance, transfer money and more.

    LEARN MORE
    contactless payment icon

    Pay with your debit or credit card, Apple Pay, Google Pay or Samsung Pay.

    LEARN MORE
    24/7 icon

    A convenient and reliable way to access your money sooner.​

    LEARN MORE
    Piggy bank icon

    Put your savings on auto pilot with BIGChange®, our rounding up tool.

    LEARN MORE
    cheque icon

    Deposit a cheque on the go and save valuable time.

    LEARN MORE
    cheque icon

    Stay informed on account activity with instant account alerts.

    LEARN MORE
     

    Automate the switch to Island Savings

    Transfer all your pre-authorized payments and deposits from other financial institutions to your Island Savings account automatically with ClickSWITCH®.

    LEARN HOW
    Woman holding a coffee while looking out a window
     

    From November 1, 2021, to November 21, 2021, the members of First West Credit Union voted on special resolutions that, among other things, authorize First West to apply to become a federal credit union under the Bank Act. If First West becomes a federal credit union, it will automatically become a member of the Canada Deposit Insurance Corporation (CDIC) and Credit Union Deposit Insurance Corporation of British Columbia deposit insurance will no longer apply. See attached Notice for further detail on what this change means to your deposits with First West.
     

    This account calculates interest based on the tier to which the entire daily closing balance corresponds. The interest calculates daily and is paid semi-annually. Interest rates and balance tiers are subject to change at any time without advance notice. Refer to islandsavings.ca/tools-calculators/rates for our current rates.

    For illustrative purposes only:

    Tier 1 $0 - $4,999 1.50%
    Tier 2 $5,000 1.60%


    Daily Closing Balance = $5,100
    This account will calculate interest based on an interest rate of 1.60% on the entire $5,100 closing balance.

    Yes, eligible contributions to this account will generate a contribution receipt for tax purposes where applicable.

    Not sure if this account is right for you?

    We can help. Visit a branch or call us at 1-888-597-1083, and let's find the right solution together.

    *The interest rate is subject to change without notice at any time.

     
     

    Meet with us

    Speak to an advisor on the phone or at a branch.

    BOOK APPOINTMENT
    PERSONAL

    Accounts

    Credit Cards

    Mortgages

    Loans

    Investing

     

    BUSINESS

    Accounts

    Credit Cards

    Loans

     

    ABOUT US

    Why Choose Us

    Careers

    Media

    Community 

     

    First West Credit Union trade names

    We acknowledge that we have the privilege of doing business on the traditional and unceded territory of First Nations communities.

    © First West Credit Union. All rights reserved.