Episode 126: Matt and Taylor are joined by Simon Mills.
 
Simon is the President of Valley First, a division of Tru Cooperative Bank, from Kelowna, BC, who joined Valley First in 2019 as the Director of Commercial Banking before becoming President in 2023.
 
With over 16 years of experience in banking, Simon moved to Vancouver from the UK in 2014 while working for HSBC. When that job ended, he didn't want to leave, so he joined Valley First and made his home in the Okanagan.

Simon is a solution-focused leader and is passionate about building member relationships and driving member loyalty, drawing on his breadth of experiences in portfolio & risk management to make a difference in the community where he serves and lives. Simon is also active in Valley First’s signature cause, Feed the Valley, and is dedicated to strengthening the credit union movement across Canada.

With approximately $20 billion in total assets and assets under administration, and more than 291,000 members, Tru Cooperative Bank, formerly First West Credit Union, is one of Canada’s largest credit unions. Through four locally known brands that include Valley First, Envision Financial, Enderby & District Financial, and Island Savings, they provide service and advice that reflects local economies and meets the needs of those who live, work, and play in our communities.
 
Simon is here to discuss:
 
→ His journey through banking, how he ended up in Kelowna and became President of Valley First, and the changes he has seen to the city since arriving in 2019.

→ What a credit union is, the similarities and differences they have with the big banks, and how they are beneficial to the communities they serve.

→ Valley First's origins and recent rebrand, the benefits of merging under Tru Cooperative Bank, and what they are looking to invest in moving forward.

→ If Kelowna is moving in the right economic direction, what sectors are currently over or under performing, and the status of both it's residential and commercial markets.

→ The factors impacting affordability including which areas have room to give like land cost and taxes and if consumers expectations are too high.

→ How constant government intervention is destabilizing Canadian housing, citing the proposed $1.4B bailout of Vancouver condos, and harming long-term market health.
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CONNECT WITH THE GUEST
🌎 Valley First Website: https://www.trucooperativebank.ca/valley-first
📸 Valley First Instagram: https://www.instagram.com/valleyfirst/
🔗 Valley First LinkedIn: https://www.linkedin.com/company/valleyfirst/
📺 Valley First YouTube: https://www.youtube.com/@Valley_First
🌲 Valley First LinkTree: https://linktr.ee/valleyfirst?utm_source=linktree_profile_share&ltsid=9dce0ee6-e451-4173-99d1-693a260e07ee

🔗 Simon Mills' LinkedIn: https://www.linkedin.com/in/simon-mills-365b7252/
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CHAPTERS
00:00 Cold Open
08:39 Merging to Tru Cooperative Bank & Valley First's Rebrand
10:21 The Benefits of the Merger Including Naitonal Expansion
11:18 How Simon Became President of Valley First & Ended Up in Kelowna
13:35 The Changes Simon Has Seen in Kelowna Since 2019
15:38 Is Kelowna Moving in the Right Economic Direction?
17:42 What Valley First is Looking to Invest In
19:47 What Sectors Are Currently Over/Under Performing
21:01 What Will Help with Affordability, Market Stabilization, & Consumer Expectations
26:24 What is a Credit Union & the Similarities & Differences to the Big Banks
29:44 Kelowna's Current Residential & Commercial Markets
33:38 The Opportunity for a Lender at Big White
36:47 The Next 2 Years for Valley First
38:40 Wrap-Up
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 CONNECT WITH THE SHOW
🎙️ Kelowna Real Estate Podcast: https://www.kelownarealestatepodcast.com
📺 Kelowna Real Estate Podcast YouTube: https://www.youtube.com/@KelownaRealEstatePodcast
📸 Kelowna Real Estate Podcast Instagram: https://www.instagram.com/kelownarealestatepodcast/
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CONNECT WITH MATT
🌎 Matt Glen's Website: https://www.venturecommercial.ca/our-team/matt-glen
📬 Matt Glen's Email: matt.glen@venturecommercial.ca
📸 Matt Glen's Instagram: https://www.instagram.com/realmattglen/
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CONNECT WITH TAYLOR
🌎 Taylor Atkinson's Website: https://www.venturemortgages.com
📬 Taylor Atkinson's Email: taylor@venturemortgages.com
📸 Taylor Atkinson's Instagram: https://www.instagram.com/venturemortgages/
***

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