Whatever your hopes,
dreams, needs and wants are
That’s what credit unions put first. Banking is just how they make it happen. Credit unions are well-regulated, full-service financial institutions with one big difference – they are owned by the people who bank with them.
Canada’s credit unions are regulated & deposits are protected
Credit unions in Canada are either provincially or federally regulated. Regulators have oversight over individual credit unions, and credit unions are required to meet standards and work with public agencies to ensure they are among the country’s soundest financial institutions.
All provinces have deposit guarantee frameworks that provide credit union members with deposit protection equal to, or higher than, the big banks. In some provinces that coverage is unlimited.
Credit unions offer personalized banking services
Credit unions are full-service financial co-operatives offering the same products and services as other financial institutions, including chequing and savings accounts, mortgages, business loans, online banking, and registered savings plans. What sets them apart is their commitment to understanding members’ needs and providing personalized financial advice to help them achieve their goals.
They support our communities and strengthen our national economy
Credit unions are guided by the cooperative principles and hold strong ethical values such as honesty, openness, social responsibility, and caring for others.
Any profits earned by a credit union are re-invested in the credit union or directed to support members and the community. Learn more here.
They are owned by the people who bank with them
As financial cooperatives, credit unions are owned by their members – the people who bank with them.
All members have an equal say in how their credit union operates and can democratically vote for its board of directors.
They champion financial literacy through the Each One, Teach One (EOTO) program
The Each One, Teach One (EOTO) program, trains Canadian credit union employees to deliver financial education workshops in their communities. Workshops are delivered in plain language without any ties to products or services, with the sole goal of empowering Canadians to take control of their financial decisions, goals and plans. Learn more here.
Credit unions provide award-winning service
Credit unions put customer service at the heart of every decision we make and that’s why we always rank highest in customer satisfaction in the Ipsos Financial Service Excellence Awards. Canada’s credit unions have ranked first among all financial institutions in the category of overall Customer Service Excellence for 20 consecutive years. We’re great at a lot of things, but we’re the best at putting you first.
Other award wins include Online Banking Excellence, Financial Planning and Advice, Values My Business, and more!
Tired of ATM fees?
Credit union members also have access to thousands of Ding Free ATMs across Canada through THE EXCHANGE® and ACCULINK® networks. It’s an ATM network bigger than most banks! Learn more here.
Credit unions contribute to Canada’s economic, social, and environmental well-being.
Read our 2023 ESG Report to learn more about what sets credit unions apart from other financial institutions.