VanPlex Plexperts · BC Multiplex Money
Prospera Credit Union
Featured on VanPlex Plexperts — the curated directory of BC multiplex money.
BC Credit Union — Project & Construction Financing, Coast Capital Savings Federal Credit Union (Prospera brand)
Fraser Valley and Lower Mainland construction financing.
Prospera started in 1943 as Edelweiss Credit Union and became Prospera in 2002. On May 6, 2026 it merged with Coast Capital and Sunshine Coast to form Coast Capital Savings Federal Credit Union — the Prospera brand and its project-financing team carry on.
1943
Roots (as Edelweiss Credit Union)
2002
Prospera Credit Union formed
2020
Merged with Westminster Savings
2026
Merged into Coast Capital Savings
Meet Prospera Credit Union
Prospera Credit Union traces back to 1943, when fourteen people started Edelweiss Credit Union with $58.50 in assets. Fraser Valley Credit Union opened in Abbotsford in 1949. The two merged in 2002 to form Prospera.
In January 2020 Prospera merged with Westminster Savings Credit Union — the largest credit union merger in Canadian history at the time. The combined credit union ran about 24 branches across the Lower Mainland, Fraser Valley, and Okanagan, with head office in Surrey.
On May 6, 2026 Prospera, Coast Capital, and Sunshine Coast closed a three-way merger to form Coast Capital Savings Federal Credit Union, with 730,000 members, roughly $40 billion in assets under administration, 70 branches, and 2,500 staff. The Prospera brand stays in use for members in the Fraser Valley and Lower Mainland.
Prospera lends to property developers through its project financing group. It covers construction and land development loans for residential, commercial, and industrial projects, plus commercial mortgages and lines of credit — the kind of small to mid-size lending that the big banks often pass on, which makes it a fit for multiplex and missing-middle builds.
Credentials
Why work with Prospera
01
Lends where the big banks step back
Prospera writes construction and land development loans for residential, commercial, and industrial projects. Credit unions like Prospera have been taking on the smaller multiplex and missing-middle deals that the Big Six banks often decline.
02
Local underwriting, local team
The project financing group is staffed with people who work across asset classes and development types. Decisions are made by a BC credit union rather than a national bank desk.
03
Scale behind a local brand
Since the May 2026 merger, the Prospera brand sits inside Coast Capital Savings Federal Credit Union — about $40 billion in assets under administration and 730,000 members — while keeping the local branch network in the Fraser Valley and Lower Mainland.
Frequently asked questions
Does Prospera finance multiplex and small multifamily construction?
Is Prospera still its own credit union?
How do I reach the project financing team?
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