Island Savings

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Island Savings Credit Union
Type Credit Union
Industry Financial Institution
Founded Duncan, British Columbia, Canada
Headquarters Duncan, British Columbia, Canada
Key people Rod Dewar - President & CEO
Products Financial services
Employees 400[1]

Island Savings is a credit union serving Vancouver Island and Saltspring Island in British Columbia, Canada.[2] It has 57,000 members[3] and assets of $1.7 billion.[3]

Organizational structure[edit]

As a credit union, Island Savings is accountable to its members, who are also its shareholders. An elected Board of Directors governs the credit union,[4] while the President and Chief Executive Officer is responsible for managing the organization.[5] Reporting to the president and CEO is the Executive Team.[6]

Island Savings Insurance Services[edit]

Island Savings' subsidiary, Island Savings Insurance Services Ltd., opened in 1983.[7] It offers insurance coverage to both Island Savings' members and non-members.[7] Current available coverages include:[7]

  • Automobile
    • ICBC
    • private auto
    • emergency roadside
    • excess third-party liability
    • collision
    • rental car coverage
    • loss of use coverage
  • Life & Disability
  • Home & Contents
    • tenant
    • homeowners
    • condos
    • mobile homes
    • cottages and second homes
  • Recreational Vehicles
    • motorhomes
    • RVs
    • marine
    • watercraft
    • snowmobiles
    • off-road bikes
    • ATVs
    • travel trailers
    • campers
  • Travel
    • emergency medical and hospital expenses
    • ambulance services
    • emergency dental treatment
    • emergency trips home
    • living allowance for trip delays
    • trip cancellation/interruption
    • baggage loss/delay/damage
    • emergency childcare
  • Business
    • commercial property
    • home-based
    • farm
    • liability
    • errors/omissions
  • Identity Theft
    • legal costs
    • lost wages
    • costs for notarizing affidavits or similar documents
    • loan re-application fees
    • long-distance telephone and registered mail costs

Community branches[edit]

Island Savings has 15 branches and 11 insurance agencies, located in:[8]

  • Victoria (Mayfair, Douglas & Broughton, Brentwood, WestShore, Jubilee)
  • Mill Bay
  • Duncan (Duncan Centre, Cowichan Commons)
  • Lake Cowichan
  • Chemainus
  • Ladysmith
  • Nanaimo (Woodgrove)
  • Cedar
  • Gulf Islands (Salt Spring Island, Pender Island)

GIFT program – Growing Island Families Together[edit]

Island Savings is dedicated to making a difference in the lives of local families. The GIFT program provides leadership, sponsorship, financial, and in-kind support to community groups.[9] Each Island Savings branch accepts applications from local groups and organizations with initiatives that help to improve families’ quality of life and build strong communities. Every year, Island Savings gives more than $1 million back to the community.

Island Savings has partnered with such organizations as the BC Cancer Foundation’s Inspire the World Campaign, Big Brothers Big Sisters of Greater Victoria, Pacific Institute for Sport Excellence, Success by Six, and the Victoria Foundation.

Island Savings in the news[edit]

External links[edit]


  1. ^
  2. ^ Island Savings Credit Union - Home
  3. ^ a b
  4. ^ Island Savings Credit Union - Board of Directors
  5. ^ Island Savings Credit Union - President & CEO: Rod Dewar
  6. ^ Island Savings Credit Union - Executive Team
  7. ^ a b c Island Savings Credit Union - Insurance
  8. ^ Island Savings Credit Union - Branches
  9. ^ Island Savings Credit Union - GIFT program