Prospera Credit Union Reviews

Updated Jul 12, 2020

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3.5
63%
Recommend to a Friend
22%
Approve of CEO
Prospera Credit Union President and CEO Gavin Toy
Gavin Toy
9 Ratings
Pros
Cons
  • "No one knows if they will have a job in 6 months(in 3 reviews)

  • "Employees don’t know if they will still have their job in 6 months(in 2 reviews)

More Pros and Cons
  1. Helpful (1)

    "Corporate Employee"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Corporate Manager in Abbotsford, BC
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Prospera Credit Union full-time for more than 5 years

    Pros

    Great new executive team focused on running a good business while providing a positive growth focused culture. Compensation is good with fantastic employee banking benefits. Would highly recommend a career with Prospera for anyone who is looking to grow their career and be part of a progressive member owned organization.

    Cons

    Not really a con but the organization is in the beginning stages of bringing together two credit unions. This creates opportunities for anyone who is career driven, willing to be nimble and focused on the business.

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  2. Helpful (5)

    "Gavin and the management team lost our trust"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Director 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Prospera Credit Union full-time

    Pros

    Credit union work life balance

    Cons

    The reviews say it all - what type of credit union Board endorses dishonesty, misrepresentation, not honoring the merger terms, leaving people scared and upset? Prospera/Westminster


  3. Helpful (6)

    "Low Employee Morale and Lack of trust to senior management"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Business Account Manager 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Prospera Credit Union full-time for more than 3 years

    Pros

    Good work life balance. Good team work with a lot of collaboration between colleagues. Nice work environment. Less internal competition than other F.Is

    Cons

    There is a very low morale and job instability. A large number of employees have been laid off. Employees don’t know if they will still have their job in 6 months. The company is going through a lot of changes after the merge with Westminster Savings. They are struggling due to low liquidity and weak capital ratios. The company does not offer opportunities for career progression and advancement. Trust to senior management has eroded after the merge. Promises were not fulfilled If I knew the company was going to be like this after their merge, I would have not voted in favor of the merge.

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  4. Helpful (8)

    "The Red Wedding"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Quality Control 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Prospera Credit Union full-time

    Pros

    Friendly co-workers and members. Good feels knowing you are helping people.

    Cons

    Morale is in the dumps, people are getting canned left and right with no rhyme or reason. Top-level management does not inspire confidence or trust. No one knows if they will have a job in 6 months.

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  5. "good place to join the workforce"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Abbotsford, BC

    I worked at Prospera Credit Union part-time

    Pros

    good co-workers and office environment

    Cons

    Smaller organization, advancement is limited.

  6. "Great place"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor in Vancouver, BC
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Prospera Credit Union full-time

    Pros

    nice environment to work at

    Cons

    need to upgrade company software

  7. COVID-19
    Helpful (10)

    "CEO says ‘board doesn’t run me, I run the board’"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Corporate Manager in Vancouver, BC
    Negative Outlook
    Disapproves of CEO

    I have been working at Prospera Credit Union full-time for more than 8 years

    Pros

    CEO really knows how to control his power

    Cons

    Where is the governance if the CEO can openly boost board can’t control him, he actually runs the board? COVID-19 is an example - where is the board? Do they check the CEO’s leadership during crisis? Do they know the CEO is absent? Do they question the CEO’s decision? The CEO will say it is operational decision, board should stay away from operations - but the corporate culture is not operational issue at all! It is gone from the top and it is a governance issue! Very sad to see Prospera culture becomes so disengaging after the merger. Tone from the top changed everything.

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  8. Helpful (6)

    "Branch management"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Branch Manager 
    Neutral Outlook
    Disapproves of CEO

    I worked at Prospera Credit Union

    Pros

    Some great leaders within branch network and support of management from old Prospera.

    Cons

    Lots of overpromising through merger. Honesty and transparency needs to come forward. Not having plans or strategy complete already seems odd. Losing the people first aspect from old Prospera hasn’t been addressed yet. Seems more is taken away than new and exciting for employees.

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  9. Helpful (10)

    "This is going to be interesting!"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Branch Manager 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Prospera Credit Union full-time for less than a year

    Pros

    Who knows anymore!!!??? The drama? The idiocy of the executive team?

    Cons

    To make the merger happen the Boards agreed on a 50% / 50% split of the management teams from the legacy credit unions but instead on the first day after the merger the new CEO fired the executives from the other credit union and brought back all his old henchmen were hiding in the shadows waiting to come back!

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  10. Helpful (9)

    "This used to be a great place to work"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Lender in Abbotsford, BC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Prospera Credit Union full-time for more than 5 years

    Pros

    My direct manager is very caring and I like my coworkers.

    Cons

    Our company just merged with Westminster Savings and things have gone downhill. this used to be a place of trust and the senior leaders were very approachable. Since the merger, the new CEO has proved to be very untrustworthy in his actions and we are now led by a new COO who does not know what he is doing. Morale is low in this company and people are fearful of losing their jobs. This is not the place it used to be even one month ago.

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Found 53 reviews