Credit Union

A credit union is a member-owned financial cooperative that provides banking services to its members. Unlike traditional banks, credit unions are not-for-profit organizations, and their members are also their owners.

Credit unions typically offer services similar to those of banks, such as chequing and savings accounts, loans, mortgages, and investment products.

They often have lower fees and better interest rates than banks, and they are known for providing personalized service and supporting their local communities.

To become a member of a credit union, you typically need to meet certain eligibility requirements, such as living or working in a specific geographic area or belonging to a particular organization.