We’ve summarized a few key facts to demonstrate the resiliency and financial strength of your credit union; if you require more information, please contact your BlueShore advisor or our Solution Centre.

BlueShore Financial is operating from a position of strength and a stable financial foundation.

BlueShore has an exceptional financial track record as a high-performing, well-managed organization. As at December 31, 2019, we’ve grown Assets under Administration to $6.3 billion and our regulatory capital base to $307 million – nearly a fourfold increase over our capital levels in 2008. For more details, read the 2019 Annual Report and Management Discussion and Analysis.

We have a strong balance sheet, underpinned by a conservative loan portfolio of exceptional quality. Virtually all of BlueShore assets are real estate-secured and over 95% of BlueShore mortgage holders have a ‘low risk’ category credit score and significant home equity. As a result, BlueShore has a track record of very low delinquency rates relative to other credit unions and banks.

BlueShore member deposits are 100% guaranteed, with protection provided by the Credit Union Deposit Insurance Corporation of British Columbia . This level of assurance is among the highest in Canada, providing comfort to our depositors. The chart below summarizes deposit insurance levels in other jurisdictions.

DBRS Morningstar reconfirmed our long-term and short-term issuer ratings of BBB (high) and R-1 (low), respectively. The trend on all ratings is Stable. This independent rating is a further affirmation of BlueShore’s financial strength and effective business strategy. Read the DBRS rating report.