First West Credit Union: Credit Rating Report

On September 19, 2024, Morningstar DBRS changed the trends on all credit ratings of First West to Negative from Stable and confirmed all credit ratings, including the Credit Union's Long-Term Issuer Rating at BBB (high) and the Short-Term Issuer Rating at R-1 (low). The Support Assessment (SA) for First West is SA2, which reflects Morningstar DBRS' expectation of timely systemic external support from the Province through Central 1 Credit Union (Central 1; rated A (high) with a Stable trend by Morningstar DBRS), particularly in the form of liquidity. The SA2 designation does not result in an uplift to First West's credit ratings.