Terrace is a city of approximately 12,000 people in the Skeena region of northwestern British Columbia, located on the Skeena River about 90 kilometres east of Prince Rupert. Terrace serves as the commercial and services hub for the northwest, with a diverse economy spanning forestry, healthcare, retail, government, and increasingly, LNG Canada-related construction and operations activity. The LNG Canada project at nearby Kitimat has significantly boosted economic activity in Terrace, with workers and contractors flowing through the community.
RBC has a full-service Terrace branch offering personal banking, mortgages, investment services, and commercial lending. The LNG Canada construction boom has increased demand for business banking in Terrace, with RBC serving contractors, suppliers, and trades businesses working on the project. RBC's mortgage advisors have been active as Terrace's housing market has tightened due to LNG-driven population and income increases.
TD serves Terrace with personal and business banking. TD's commercial team is familiar with resource sector clients, including those with project-based income from LNG construction. TD's extended digital banking hours are valued in Terrace, where forestry and construction workers may have irregular schedules.
Scotiabank has a Terrace branch with the full range of personal and business services. The Scene+ rewards program is popular with Terrace residents who travel to Vancouver for medical appointments, family visits, or vacations.
BMO serves Terrace with personal banking, mortgages, and business services. BMO's commercial lending team can assist with equipment financing for contractors and small businesses.
CIBC has a presence in Terrace offering the standard range of personal and business banking products. CIBC's mortgage specialists are active in Terrace's heating real estate market.
Integris Credit Union is a major financial player in the Skeena region. Their Terrace branch serves members across the northwest with community-focused banking that understands the region's economic character — resource sector cyclicality, First Nations economic participation, and the transformative impact of LNG Canada. Integris' local lending decisions are particularly valuable for self-employed contractors and small businesses.
The LNG Canada project at nearby Kitimat is Canada's largest private-sector investment, with significant ripple effects in Terrace. Tradespeople, engineers, and project workers earning premium wages have increased demand for:
Terrace's housing market has tightened significantly as LNG project demand increased the population and average incomes. Detached home prices have risen to $400,000-$650,000 in many parts of the city. First-time buyers may find the BC PTT exemption partially helpful for lower-priced properties. Mortgage competition is strong with all Big Five banks and Integris active in the market.
KOHO works everywhere in BC — even where there's no branch nearby. No monthly fees, no minimum balance. Use code 45ET55JSYA for a bonus when you open your free account.
Open KOHO Free — Code 45ET55JSYA