Our History

How we began

Gulf and Fraser Fishermen’s Credit Union began in 1940 as North Arm Credit Union. A small group of people from the commercial fishing industry met in a kitchen and discussed their challenges getting credit from commercial banks. Together they pooled $79.13 to start the credit union. That was the beginning of a long history of coming together to make something better, to bring more choice to the hard working people of BC.

In 1948, we changed our name to Gulf and Fraser Fishermen's Credit Union, and quickly became known as GAFF.

We now refer to ourselves as Gulf & Fraser. Five years later, in 1953, we expanded our boundaries to include any and all fishing industry workers and their relatives in BC. We now welcome all members, regardless of their connection to the fishing industry.

Did you know? Our members are from over 40 different credit unions that now make up Gulf & Fraser!

Through our members’ trust in Gulf & Fraser over the years we have joined together with other BC credit unions and created the scale we need to enhance our services, to have a voice in the province, to operate more branches, to make banking easier for you.

In the past two decades, we have joined together with five credit unions:

1. United Savings Credit Union – 2004
2. Aldergrove Credit Union – 2021
3. Mount Lehman Credit Union – 2022
4. VP Credit Union – 2022
5. Grand Forks District Savings Credit Union - 2023
6. Gulf & Fraser and Interior Savings merge to become Beem Credit Union – 2024

United Savings members hail from BC’s union forces

A significant milestone for Gulf & Fraser included our merger with United Savings Credit Union in 2004. Before joining us, United Savings Credit Union had already merged with 35 other credit unions including Burnaby Savings, City of Vancouver Employees, dairy workers, transportation industry employees, beer workers and many more. Upon joining with Gulf & Fraser, United Savings added Fleetwood, Main Street, New Westminster, and South Burnaby branches to our branch network.

Aldergrove Credit Union unites branch network west to east, adds expertise

Joining together with Aldergrove Credit Union allowed us to complete a route of branches from West Vancouver through the Lower Mainland and into the Fraser Valley. The merger brought a significant increase in capital and resources and enabled us to hire more employees and enhance our service offering to members—including our Member Rewards Program, inspired by a similar program at Aldergrove Credit Union.

Mount Lehman Credit Union connects Abbotsford families

The merger with Mount Lehman Credit Union meant that Gulf & Fraser expanded further into the Fraser Valley with a branch located in the beautiful farmland of Abbotsford.

VP Credit Union brings in upstanding members

The merger with VP Credit Union brought people who work in law enforcement into our membership. This merger increased our membership and added to the credit union's capital to allow more investment in technology.

Grand Forks District Savings Credit Union moves us further east

The merger with Grand Forks District Savings Credit Union brought 8,000 members living in Kelowna, Grand Forks and the Boundary Region into Gulf & Fraser. This incredibly engaged membership saw the value in merging and remaining strong for future generations.

This merger allowed Gulf & Fraser to continue to grow and move closer to realizing our goal to create a provincial credit union.

Building Beem Credit Union

Gulf & Fraser and Interior Savings merge to become a first of its kind, province-wide credit union built from the cooperative values upheld by its founding BC credit unions that have served members since 1939. 

Strength in leadership leads to longevity

It was the vision of our Board that led us to join with our credit union peers and become the strong and vibrant credit union we are today. We are grateful for the foresight and thoughtful planning of our past Board Chairs and Directors.

Gulf & Fraser Chair of the Board 2009 - 2023

• 2009 - 2014 - Vince Fiamengo

• 2015 -2021 - Lewis Bublé

• 2022 - December 2023 - Floyd Yamamoto

Last serving Chair of the Board of credit unions that merged with Gulf & Fraser

• Chair of United Savings Credit Union (ending 2004) - Ed McIntosh

• Chair of Aldergrove Credit Union (ending 2021) – Bev Dornan

• Chair of VP Credit Union (ending 2022) – Mario Giardini

• Chair of Mount Lehman Credit Union (ending 2022) – Chris Bodnar

• Chair of Grand Forks District Credit Union (ending 2023) – Michael Strukoff

Last serving Chair of the Board of credit unions that merged with Gulf & Fraser

• Chair of United Savings Credit Union (ending 2004) - Ed McIntosh

• Chair of Aldergrove Credit Union (ending 2021) – Bev Dornan

• Chair of VP Credit Union (ending 2022) – Mario Giardini

• Chair of Mount Lehman Credit Union (ending 2022) – Chris Bodnar

• Chair of Grand Forks District Credit Union (ending 2023) – Michael Strukoff