VANCOUVER, BC / Unceded Territories of the Musqueam, Squamish and Tsleil-Waututh Nations, Oct. 23, 2024 (GLOBE NEWSWIRE) — Today, Community Savings is proud to announce the launch of AnXin Community Savings, the first credit union brand dedicated to Chinese Canadians and Chinese-language communities in BC. AnXin is located in downtown Richmond, and offers specialized, diverse and reliable financial products in Mandarin, Cantonese and other Chinese dialects.
AnXin is led by Katrina Chen, former Member of the Legislative Assembly for Burnaby-Lougheed and Minister of State for Child Care. During her time in office, Katrina has played an active role in various social justice issues, including housing affordability, child care and racial equity and she continues engaging the local community. A proud immigrant who moved to Canada from Taiwan on her own, Katrina knows first hand the need for culturally tailored financial services.
“Supporting newcomers, immigrant families and Chinese-language communities is immensely meaningful to me. Over the years, I’ve learned that financial services need to be accessible, diverse and community-driven. With AnXin, I am grateful to take my experience and layer it with a grassroots based approach to serve our community. AnXin’s values and virtue of prioritizing members over profits will build a stronger community”, said Katrina Chen, President, AnXin Community Savings.
Close to 30% of the population in Metro Vancouver are Chinese-language speaking communities, and in the city of Richmond, 44% of the population speak Chinese-languages as their first language. This community credit union will specifically cater to the unique cultural and linguistic needs of the community. This is especially important for newcomers that can benefit from additional guidance and support to establish financial security in a new country. AnXin Community Savings will provide a trusted space that is developed on a shared mission with the Chinese Canadian and Chinese-language communities of delivering innovative, progressive, diverse and tailored banking products.
Mike Schilling, President & CEO, Community Savings said, “The launch of AnXin Community Savings is a significant milestone in support of our Chinese Canadians and Chinese-language communities in Vancouver. These groups have long experienced discrimination and systemic financial inequities and I’m proud that AnXin is offering inclusive and culturally relevant financial services. Credit unions are grounded in the community. They are owned by the members and this credit union will be the same. For the community, and by the community. I know that with Katrina Chen’s leadership, AnXin will fulfil its mission of enriching BC’s financial sector and addressing systemic inequities.”
AnXin is a new brand of Community Savings – one of the fastest growing credit unions in BC. AnXin draws on Community Savings’ 80 years of long-standing expertise to offer leading personal banking products and services such as lending, deposits, mortgages, no-fee transactions and more. Its first branch is located at 175-6386 No. 3 Road, Richmond, BC. The branch will provide full-service banking to members by Spring 2025.
If you’re looking to bank with a community-driven financial institution dedicated to serving Chinese Canadian and Chinese-language communities, sign up here: www.anxinsavings.com
About AnXin (安信) Community Savings:
AnXin Community Savings is founded to address the financial needs of Chinese Canadians and Chinese-language communities. With specialized, diverse and reliable financial products, services in Mandarin, Cantonese and other Chinese dialects, and investments in local community initiatives, AnXin Community Savings aims to unite the Chinese Canadian and Chinese-language communities in British Columbia. Through AnXin Community Savings, we seek to expand tangible financial opportunities while advancing diversity and equity.
AnXin is part of Community Savings Credit Union, a leading BC-based financial institution.
About Community Savings:
Community Savings Credit Union is driven by its purpose to unite working people to build a just world. As BC’s largest fully unionized credit union, Community Savings provides best-in-class personal and business banking.
Community Savings operates six branches across the Lower Mainland and Victoria. It lives by its values, from being the first financial institution to become a Living Wage employer in 2010 to winning the 2022 BCBusiness Business of Good Workplace Wellness Award for its innovative staff wellness programs. For more about Community Savings, visit www.comsavings.com.
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