Two months after Desjardins Group, Canada's largest cooperative,said it planned to buy up to 40% of outstanding shares of OtradeFinancial Group, more credit unions have extended theirpartnerships with the online brokerage firm.

First West Credit Union in Langley, British Columbia, which has$7.1 billion in assets under administration, said it has extendedits strategic alliance with Qtrade to at least 2019.

The agreement will provide investment and financial planningadvice and products to members of Envision Financial and Valley First, both divisions of First West CU.

The two divisions partnered with Qtrade early in itsdevelopment, said Launi Skinner, CEO of First West CU, whichdeepened its partnership in 2011 to provide more frequent advice toa greater number of members.

Since 1999, Qtrade has provided brokerage and wealth managementplatforms across Canada. Its services include online, full serviceand institutional brokerage, mutual fund dealer, insurance dealerand portfolio management. The firm said it oversees approximately$7.5 billion in client assets.

“Our members benefit by being able to access greater investmentexpertise and products, and the credit union benefits because wehave enhanced our sales and service culture, which has resulted inincreased wealth management business,” Skinner said.

Because Canadian credit unions collectively have more than 5.3million members, Skinner said there are more opportunities for themto expand their expertise and services and grow their market sharein the wealth management space.

“We very much appreciate the confidence and trust that FirstWest Credit Union has placed in Qtrade, even in the early days whenwe were not yet a proven solution,” said Scott Gibner, CEO ofQtrade. “We are proud and excited that First West has extended itscommitment to working with us.”

In February, the Vancouver-based Desjardins Group, which has more than $200 billion in assetsand is Canada's largest cooperative, said it would purchase between25% and 40% of the outstanding shares of Qtrade from currentsecurity holders, with the right to buy the remaining shares overthe next six years.