Prospera Credit Union and Sunshine Coast Credit Union Applications to Become Federal Credit Unions

BCFSA is seeking public comment as it reviews the applications from Prospera Credit Union (Prospera) and Sunshine Coast Credit Union (Sunshine Coast) for consent to apply to become federal credit unions under the Bank Act and, immediately thereafter, amalgamate with Coast Capital Savings Federal Credit Union.

Under the Credit Union Incorporation Act, a B.C. credit union requires the consent of the Superintendent of Financial Institutions (Superintendent) and the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC) before it can apply to the federal Minister of Finance to continue to the federal regime.

All feedback received during the 30-day consultation period will be reviewed and considered as part of the consent review process by the Superintendent and CUDIC. Once BCFSA has completed the consent review process, a public notice with the decision will be posted on this webpage.

How to participate in the public consultation

1. Read the Frequently Asked Questions (FAQ) to learn about Prospera and Sunshine Coast’s applications and the process that credit unions must undertake to transfer incorporation from one jurisdiction to another.

2. Provide your written comments via the Consultation Feedback Form. If you have trouble providing feedback using the Consultation Feedback Form, please contact us at Continuance@bcfsa.ca.

• Consultation Timeline

  Phase 1: Public Consultation
  (November 2025 – December 2025)

  Phase 2: Notice of Decision
  (2026)