First-of-kind initiative delivers banking to Cormorant Island




February 26, 2015 - Cormorant Island


We are pleased to announce that Vancity credit union will be establishing a branch on Cormorant Island later this year.  Vancity will offer residents of Cormorant Island a full suite of banking services, including cash withdrawal and deposit, bill payments, mortgage and loan services, credit card services, investments and financial planning and business banking services.


A Memorandum of Understanding (MOU) was signed yesterday at 12:30 p.m. among Vancity, the ‘Namgis First Nation and the Village of Alert Bay. The MOU supports the principles of community sustainability and calls on Cormorant Island residents and businesses to support on-island banking services by signing up your accounts. We look forward to sharing the exciting details of this transition as they become available.


We wish to thank the steering committee, the financial expertise of Headwater Capital Consulting and the business support of IVM Business Solutions for their hard work and dedication in leading this initiative.


This announcement comes at a pivotal point as the joint Tides of Change Economic Development Strategy is nearing completion. A financial institution is critical in developing a strong, sustainable local economy and Vancity’s dedication to these ideals make for a strong partnership.  Welcome to Cormorant Island Vancity!


Should you have any questions about this announcement please contact Heather Nelson-Smith at the Village office (250)974-5213.

 For a copy of the signed document click here