BlueShore Financial Strength
In these turbulent times, you want the assurance that your financial institution partner is strong, stable and resilient. Learn more about BlueShore’s exceptional financial track record, strong capital base, conservative loan portfolio, and 100% deposit insurance* – and be confident that your money is both safe and well managed.
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.
|Deposit Insurance Coverage||Credit Unions||Banks|
|Unlimited||BC, AB, SK, MB|
|Up to $250,000||ON, NS, NB, NL|
|Up to $125,000||PE|
|Up to $100,000||Federal credit unions
QC caisses populaires
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.