Empower Your Financial Future with a Credit Union

Empower Your Financial Future with a Credit Union

Are you looking for a financial institution that offers award-winning customer service and personalized financial planning and advice? Time to switch to a credit union. Since the early 1900s, Canada’s credit unions have set themselves apart by championing a people-focused approach to everyday banking. This means, that when you bank with a credit union, you become a member and an owner, and your satisfaction and bottom line are always the credit union’s top priority.

To commemorate the remarkable impact that credit unions have had on Canadians and around the world, we celebrate International Credit Union which takes place this year on October 20th. This year’s theme “Empower Your Financial Future with a Credit Union”, celebrates the worldwide credit union movement, its history, and achievements.

In keeping with the theme, here are a few of the ways that Canada’s credit unions are helping Canadians take charge of their financial future:

1. Financial Literacy Workshops

Are you looking to level up your financial knowledge and skills? Canada’s credit unions have you covered! Enhancing your financial literacy can boost your confidence and help you make informed decisions about your financial future. Credit unions across Canada have taken the initiative to deliver financial education workshops in their communities through the Each One, Teach One (EOTO) program. Since its inception in 2008, this innovative program has trained over 400 credit union employees from more than 90 credit unions to deliver financial literacy workshops in their communities. Through these workshops, credit unions have helped Canadians develop a strong foundation of basic financial knowledge to help empower them to make more informed financial decisions for themselves and their families. After all, improving the financial literacy of Canadians is part of what sets credit unions apart.

2. Providing award-winning service to our members

Do you find yourself waiting in long lines to speak with a financial advisor at your chosen financial institution, only to have yourself rushed so they can serve the next customer? Time to think about joining a credit union. As member-focused financial co-operatives, credit unions take customer service to a whole other level – because you are more than just a number, you are part of a community, and your financial future is put first. Their member-focused approach to financial services allows credit unions to provide their members with a more personalized client experience, ensuring you receive the answers you need to your financial questions with the quality and care you deserve. Bottom line – credit unions know the meaning of great customer service. But don’t take our word for it – Canadians have voted and Canada’s credit unions have been recognized as #1 in Customer Service for the past 18 years in a row by the IPSOS Financial Service Excellence Awards – consistently beating out Canada’s top five big banks. In 2022, credit unions also won in the categories of:

  • Values My Business (solo win)
  • Financial Planning and Advice (new win)
  • Branch Service Excellence (solo win)
  • Online Banking Excellence
  • Live Agent Telephone Banking Excellence

You got that right! That’s because when you bank with a credit union, you receive the products, services, and advice you need with your best interests in mind – that’s the credit union difference.

3. Supporting small businesses

Running a small business is no easy task, but it can be made easier with the financial support of a credit union. Credit unions in Canada have been longstanding supporters of Canadian entrepreneurs and the small business community. Are you an entrepreneur in need of extra financing to kickstart your business? Canada’s credit unions can help you out. Credit unions offer greater flexibility than traditional financial institutions when offering financing to small business owners. In fact, Canada’s credit unions are the leaders in small business lending – offering financial support to more than 374,360 small and medium-sized businesses within Canada.

4. Providing everyday banking services

From opening a chequing or savings account to applying for a mortgage – whatever your banking needs, Canada’s credit unions can help you reach your financial goals. As a full-service financial institution, credit unions provide Canadians with a wide array of financial products, including RRSPs, mutual funds, lines of credit, mortgages, loans, and much more. The cooperative model also helps Canadians keep more money in their pockets. Unlike banks which give their profits back to shareholders, credit unions reinvest part of their profits in their local communities through charitable organizations and initiatives, and some give back to their members through profit sharing or reduced fees. Credit union members also have access to up to 5,225 surcharge-free ATMs across Canada.

Celebrate your financial empowerment every day….Become a credit union member

No matter your financial goal – your first home, a new car, or saving for your next vacation – Canada’s credit unions can help you get there. Not yet a credit union member? To find your nearest credit union, click here.