Skip to main content
smiling couple  sitting at the table with their laptop.jpg

Switch your mortgage and get $1,000 cash back 

Already have a residential mortgage elsewhere? Transfer it to us and you could get $1,000 cash back.

Contact our Member Advice Centre at 1-888-597-8083visit us in branch, apply online, or get in touch and let us call you.

Select Image

With competitive rates and an extra $1,000 in your pocket, being a member has never been so rewarding.

Featured Mortgage Rates

5-Year Fixed Closed - Insured**


5-Year Fixed Closed*


5-Year Variable Closed - Insured**


5-Year Variable Closed*


*The fixed mortgage rate is only available to members with greater than 20% down payment, purchasing a residential, owner occupied property valued at under $1,000,000, and who meet other conditions. A premium may be applied to the rates for all other mortgages. Please visit a branch or call us at 1-888-597-8083 for further details.

**This insured mortgage rate is only available to members with less than 20% down payment, purchasing a residential property valued at under $1,000,000, who are eligible for and purchase mortgage default insurance and meet other conditions. Mortgage default loan insurance is required by lenders when homebuyers make a down payment of less than 20% of the purchase price. Mortgage loan insurance helps protect lenders against mortgage default, and enables consumers to purchase homes with a minimum down payment. The premium is calculated based on a percentage of the amount borrowed. Your premium can be paid upfront in a single lump sum payment, or it can be added to the total balance of your mortgage and included in your monthly payments – in this case, interest will apply to the premium as well. The minimum down payment requirement for mortgage default insurance depends on the purchase price of the home. For a purchase price of $500,000 or less, the minimum down payment is 5%. When the purchase price is above $500,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion. Mortgage default insurance is available only for properties with a purchase price or as-improved/renovated value below $1,000,000.

†Mortgage rates are subject to changes without notice and are available O.A.C. Fixed mortgage rates are compounded semi-annually; variable mortgage rates are compounded monthly. Mortgage rates are based on a 25 year amortization. Terms and conditions may apply. Mortgage funds must be advanced within 12 days of the application date. These rates are discounted and cannot be combined with any other rate discounts, promotions or offers. Additional fees may apply. For specific Annual Percentage Rate (APR) rates, please contact us.

How to get the cashback offer

house icon.png

Step 1

Apply for a 3-year or greater fixed rate mortgage or a 5-year variable rate mortgage

Step 1

Use your new or existing Simply Free Account® as the funding account to make your regular mortgage payments 

piggy bank icon.png

Step 3

You will receive the cashback funds within 5 days of your mortgage being funded 


Contact our Member Advice Centre at 1-888-597-8083visit us in branch, or apply online.

Mortgage amount must be $150,000 or more. See full terms and conditions of the offer below.


What you'll need to switch your mortgage to us

  • Copy of offer to renew OR annual mortgage statement 
  • Proof that your most recent property taxes have been paid 
  • Proof of property insurance 
  • Verification of employment and income ​


Have questions? Speak to an advisor.

Send us a note and let our experts get in touch to kick off the conversation or book an appointment for you.



​Be mortgage-free faster

Owning your home, free and clear of a mortgage, is a great feeling. That's why we built our mortgages with you in mind. Get mortgage-free faster by taking advantage of:

  120-day rate guarantee

  Prepay up to 20% of the original mortgage balance once per year

  Increase your mortgage payments by up to 20% of the original payment amount once a year

​  Share the cost. We're experts in multi-applicant mortgages

smiling couple sitting at the table looking at their laptop


Need more help?




Why choose us?

Enjoy competitive rates knowing our profits are reinvested into strengthening your local businesses and community.

Learn more about the Financial Co-operative difference


Q: I already have a mortgage with a different lender. Can I get cash back?
A: Yes you can. If you switch your existing mortgage of $150,000 or more from another financial institution to Valley First or Enderby & District Financial, you can qualify for cash back, pending you meet the eligibility requirements.

Q: What type of mortgages qualify for the cash back offer?
A: The offer is available on residential closed fixed rate mortgages with a minimum term of 3 years as well as the 5-year closed variable rate mortgage.

Q: When will I receive my cash back?
A: The $1,000 will be deposited into your chequing account at Valley First or Enderby & District Financial within 5 days of your mortgage being funded.

Q: I already have a mortgage at Valley First or Enderby & District Financial. Can I get this offer if I refinance my mortgage?
A: Refinances and renewals on existing mortgages are not eligible for this offer.

Q: What happens to my cashback if I close my mortgage before the end of my mortgage terms?
A: If you close your mortgage prior to the end of the term, you will be asked to repay the cashback amount in full.

Q: How do I take advantage of this offer?
A: Apply for mortgage pre-approval online or call us at 1-888-597-8083 to get started.

For mortgage transfers, First West Credit Union will pay, when applicable, $1,000 towards the discharge of the existing mortgage held at another financial institution, the re-registration of the new First West mortgage as well as property valuation fees. The offer excludes mortgage prepayment charges (“breakage fees”) that may have to be paid.


To be eligible for this offer, each borrower and each mortgage loan must meet the following eligibility requirements on the effective date:

  • Each borrower must be an individual, and 19 years of age or older.
  • Each borrower must be a member of First West Credit Union with a chequing or savings account with First West Credit Union and a primary banking relationship. If there is more than one borrower, the borrowers may have a joint account. If a borrower is not presently a member of First West Credit Union, the borrower may become a member subject to regular membership requirements.
  • The borrower or borrowers must enter into a new mortgage loan. The new mortgage loan must be a closed residential mortgage loan with a term of at least 3 years or greater at a fixed interest rate or a five-year variable rate term. The new mortgage loan must either be a first mortgage, or a second mortgage behind a First West Credit Union first mortgage.
  • The principal amount of the new mortgage loan must be not less than $150,000.
  • Residential mortgages are offered by First West Credit Union and are subject to our standard lending criteria, additional terms, and other requirements typical for such mortgages.
  • To qualify for a mortgage transfer the existing mortgage cannot be increased by more than $3000.00 and the amortization cannot be extended.
  • The following are not eligible: renewals of an existing mortgage; second mortgages behind a first mortgage held by another lender; third or later mortgages; mortgages with open repayment terms; mortgages securing home equity lines of credit (HELOCs); construction mortgages (except that owner occupied construction mortgage loans may be eligible when converted to a closed term, typically on the completion of construction); mortgage loan autorenewals, where the borrowers do not contact First West Credit Union before the autorenewal is effective; and mortgages which First West Credit Union considers to be stated income, equity lending or similar mortgages.
  • The effective date of the new mortgage loan must be on or after 21 October 2020.
  • Under a Multi-Purpose Mortgage, a borrower can split the total mortgage loan into sections, each with its own term length and interest rate.
  • Mortgages sourced through the Broker Channel will be eligible on a temporary basis. The effective date for the new broker mortgage loan must be on or after 11 December 2020. This offer can be withdrawn at anytime without any notice.
  • For each property, only one mortgage loan is eligible.
  • $1,000 will be deposited into the primary chequing account held by the primary applicant at the appropriate division of First West Credit Union.
  • If the borrower breaks their mortgage prior to the end of the term, any incentives need to be paid back to First West Credit Union.
  • This offer cannot be combined with any other offer provided by First West Credit Union, unless the combination is approved in writing by First West Credit Union.
  • All decisions of First West Credit Union with respect to the eligibility of borrowers or the interpretation of these terms are final.
  • First West Credit Union may terminate, withdraw or suspend this offer at any time, and waive or amend any particular eligibility requirement or other term for a particular borrower or borrowers, at any time, without notice, in its sole discretion.
  • Nothing in these terms shall be construed to obligate First West Credit Union to approve an application for a mortgage loan or to fund a mortgage loan.