Credit union credit cards sometimes offer extra perks like travel rewards, insurance coverage and more. Credit unions provide a range of financial products and services that are similar to banks. Is there a credit union in Canada with branches in every province and territory? One such credit union is the Caisse Populaire Acadienne ltée. Credit Unions have been a part of the financial services landscape in Canada for decades. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. The fees and interest rates tend to be lower As noted, credit unions are member-owned non-profit organizations, and their entire system works slightly differently from banks. Read more. While we are independent, we may receive compensation from our partners for featured placement of their products or services. Either way, it can be worth comparing credit cards from both credit unions and banks to see which option is most suited to your financial needs. Refer to individual credit union websites for details of their branch networks and access options. 3 Ranked one of Canada’s Best Cash Back Credit Cards 2018 by MoneySense Magazine The Meridian Visa Card is issued by Collabria Financial Services Inc. in a joint partnership with Meridian Credit Union pursuant to a license from Visa. In order to get a credit union credit card, you’ll need to become a member of the credit union, which usually involves a small fee, which is often paid monthly or yearly. Low rate, great rewards and additional card features. Grow your wealth the smart way with these top 6 picks. Our monthly newsletter is launching soon with the latest in money news, credit card offers + more ways to save. Once you’re a member of the credit union, you will also have the opportunity to influence how the credit union is run. Because we believe you are worth more than your net worth. This is especially true in Canada since credit unions tend to be located in one province only. So if you're looking for a credit card that gives you the most cash back or travel rewards, we got your back. Credit union credit cards often focus on providing potential savings and ongoing value for members. Toronto, ON, Canada M5V 3H5. Credit unions generally offer either Mastercard and/or Visa credit cards, both of which provide secure payment systems. However, some may allow you to bank in partner branches, or offer other services at partner credit unions. It should be noted that credit union legislation exists in every province in Canada, however there is no legislation in the three territories. ; Compare the best credit cards from Meridian - one of Canada's largest credit unions with over 360,000 members. Or, if you're looking to save the most money with 1.99% interest for 9 months ‒ we've got that covered too. Read more, Earn rewards for every dollar you spend. Guaranteed Investment Certificates (GICs), Registered Disability Savings Plan (RDSP), Elwood Harvey Co‑operative Leadership Award, BCAP Business Credit Availability Program, How to apply - Build a Better World Scholarship, Electronic Banking and Mobile Banking Services Agreement, Debit Card Mobile Payment PIN Service Agreement. Conexus Credit Union is the biggest credit union in Saskatchewan and the sixth-largest credit union (based on AUM) Canada with a total of $8 billion in assets under management. To help you get ahead with your finances, from February 1 to April 30, 2021 you can take advantage of this special rate to consolidate your balances and save on annual fees from multiple cards. A credit card is a useful financial tool. Credit unions offer a wide range of credit cards for members, including low rate, low fee and reward options. Can I apply for a credit union credit card online? Before you apply for a credit card from a credit union, you should check out the existing branch network and other access options to decide if it will work for you. Choose a card with the rewards you want, like travel or cash back, or get one that offers low interest, or that helps you build your credit. We’ve got cards that work as hard as you do. Whether you’re newly retired, just starting out or somewhere in between, we’ve got the cards that meet your needs. 8.99% … You get protection against fraudulent electronic transactions with both types of credit cards. The credit union says the card’s lowest rate is based on credit scores of 760. Finder is committed to editorial independence. Starting from when the very first credit union was founded in 1900 in Quebec, credit unions have always highlighted their focus on making life easier for their members and the communities they reside in. SPONSORED: Fee-free services and special offers can help you save on your next international money transfer. Discover the best credit cards in Canada for 2021 in 26 different categories. Every member has equal ownership and an equal say in how their credit union operates, no matter what their balance. Or perhaps, you use it regularly and pay it off each month in order to earn rewards. Credit unions are regulated at the provincial and territorial level in Canada, whereas banks are regulated at the federal level. Credit union credit cards often have lower interest rates, lower fees, and are more consumer-friendly than credit cards from major credit card issuers.Interest rates on credit union loans are currently capped at 18%. Banks offer a range of rewards credit cards as well. Optional, only if you want us to follow up with you. Read more, Good tools make for a good business. Alliant Visa® Signature Card. About half of Canadians, or around 18 million, carry a balance on their credit card. Established in 1976, Conexus started off as Sherwood Credit Union and today, it serves over 128,000 members via its system of 39 branches across British Columbia and Canada. Credit union card pros The list of pros regarding credit union credit cards is long. Although a handful of unlimited cards offer a higher-than-standard 2% … Credit unions also usually report your credit card payments to the credit bureaus, so having one of their cards will help you build credit . Below, we shed light on the benefits of student credit cards and provide a breakdown of the best student credit cards in Canada for 2021. Pay zero fees for safe and secure money transfers to over 120 countries. Searching for a low-interest credit card? Get the right credit card for you. Compare credit card rates, fees, and rewards from Canada's top credit card issuers and apply online. Our members enjoy the security, convenience, and added benefits you've come to expect from VISA. Canada and U.S.: 1-855-341-4643 International Collect: 1-647-252-9564 All deposits to Noventis Credit Union are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba Most credit unions have small branch networks located in a single province only. Find out how digital banks compare with dedicated money transfer services when sending money overseas. For example, they may provide funding for local community groups and schools, encourage arts and performance and work on building stronger human bonds. What eligibility criteria would I have to meet to apply for a credit union credit card? Credit Card Rewards. Canada’s credit unions are owned by the people that bank with them, which means your bottom line is our bottom line. With this network, your credit union is affiliated with 30,000 ATMs across the U.S. and Canada. When it comes to credit cards specifically, credit union options tend to offer the most value to people who want an ongoing, affordable option. All rights reserved. Now that you know more about the different structure and focus of credit unions, you can compare these cards to those of larger financial institutions like banks to find one that suits all of your needs. For example, balance transfer credit cards from banks typically provide lower introductory interest rates and longer promotional periods in comparison to those offered by credit union credit cards. Find out who has the most debt stress and what they are willing to do about it. Whether you’ll use it for yourself or your business, we have the credit cards to meet your needs – no matter how complex those needs may be. VISA ® Credit Cards. Note: While some of the cards on our list are not full-fledged student credit cards per se, all have no annual fees and minimal qualification requirements. That's why we offer members low fees and low interest rates on each of our cards. Using your credit card just became easier! As a result of these unique credit union features, people often pay as much attention to a credit union’s philosophy as they do to its specific products and features. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Going on a trip? Earn a high interest rate on your savings with no minimum deposit requirements and no monthly fees. Banks offer the same security measures as credit unions. creditcardGenius is a smart credit card matchmaker that compares 126+ features of 178+ credit cards, with objective ratings, rankings and reviews. Affinity Mastercards® put purchasing power in your pocket. Save money on your outstanding balance with the CIBC Select Visa. Pay no annual fee and save money on your outstanding balance with this low-interest credit card. Are credit unions regulated in the same way as banks? The best credit union credit cards are those cards that stand toe to toe with these bigger bank offerings. 10.5 million of these Canadians are stressed about their pandemic debt. Read more That’s why we offer several options so that your card fits your life. Maybe you think of it for emergencies only. Good tools make for a good business. Credit union credit cards can have lower interest rates than mainstream cards, sometimes even under 10%. The $49-annual-fee Navy Federal Credit Union® Visa Signature® Flagship Rewards Credit Card earns 3 points per $1 spent on travel and 2 points per $1 on all other purchases. If you are unsure you should get independent advice before you apply for any product or commit to any plan. Canada & US 1.855.341.4643 International 1.647.252.9564 Card Activation 1.866.498.3840 Balance Transfer Expand/Collapse. While Canada's big banks continue to Before you apply for a loan with a credit union, membership will be required, as previously noted. Enjoy peace of mind with 5.9% balance transfers for 6 months. Getting a lower APR for the Lake Michigan Credit Union Prime Platinum Visa ® Card can depend on having healthy credit. Banks focus on maximizing profits for their shareholders, so they can attract more investors. Disclaimer - We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. Lower APRs. $50 annual fee, 9.9% interest Learn More : Travel Cards; US Dollar: The perfect card for those that travel or shop in the Unites States $50 annual fee, 19.9% interest Learn More: Travel Gold: From baggage coverage to emergency health coverage, travelwith peace of mind. Earn rewards for every dollar you spend. Read more. © 2017 Affinity Credit Union. We’ve got cards that work as hard as you do. MBNA True Line Gold Mastercard. Read more. Any profit that a credit union generates goes back into the system to provide its members competitive rates and offerings. Transferring any outstanding credit card balances to your Innovation Credit Union Visa card is an easy way to organize your finances: Keep outstanding balances in one place-- it's easier to track and manage; For example, you may be able to vote at annual general meetings or provide feedback that influences the features of different products and services. Personal Credit Cards. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Prepare to revamp your asset allocation and explore new investment classes when you’re in your 30s. The eligibility criteria for credit cards can vary, but generally include the following: For specific information on application requirements, refer to the product page of any credit union credit card you’re interested in. However you use your credit card, we want it to be more than just a useful tool. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Conexus Cash Back Mastercard® Annual Fee: $0. We may also receive compensation if you click on certain links posted on our site. In order to become a member, you will need to meet some criteria, including the following: Identification. In 2012, a law was passed that allows some credit unions to be regulated at the federal level. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. This focus means the profits made by credit unions are usually passed back onto customers in the form of more competitive products and services. Benefits and disadvantages of credit union credit cards If you’re interested in getting a credit union credit card, you should consider the following factors when comparing different cards: As well as being focused on benefitting members, credit unions usually have a community focus. If you’re looking for a card that offers short-term value, on the other hand, you may find that bigger financial institutions and banks provide you with more options. However, a bank does not give you a say in how the bank is run or how different products or services work. We may receive compensation from our partners for placement of their products or services. Credit unions provide credit cards linked to some of the major rewards programs. You can now add your credit card to Apple Pay and start making purchases on the go with your iPhone, iPad, Apple Watch or Mac with merchants that accept contactless payments, in participating apps and on the web. This level of involvement means that credit unions often suit people who want to completely change the way they bank. While banks are led by shareholders and focus on generating profits through products and services, credit unions are often run by members and focus on providing benefits to all of their members collectively. If you’re interested in a balance transfer offer with low rates, compare offers for balance transfer cards on Credit Karma. Download the GenFed Cards mobile app from the App Store or Google Play. Business Credit Cards. Public Service Credit Union / Personal Credit Cards - Read unbiased reviews of Public Service Credit Union. We offer a full line of Visa credit cards in partnership with Collabria, a Canadian cooperative that provides unique payment solutions for credit unions and their members. Best credit union credit cards of March 2021 Credit unions often offer competitive credit cards with better rates and fees than a typical bank. This works in your favour only if you’re a major stakeholder of the bank you’re banking with. Their ATMs likely partner with the Co-op Network. You will also likely need to open an account before or during your application for a credit union credit card. Lost or Stolen Cards CUA Debit Card: 1-888-277-1043 Collabria Visa or Mastercard (Canada and U.S.): 1-855-341-4643 Collabria Visa or Mastercard (International Collect): 1-647-252-9564 Credit unions also try to make sure they only lend money to people who can make repayments, and they have support services in place to help members who are going through a rough patch. Annual fee: $39. Apply for a secured card with this reputable provider to start rebuilding your credit. Banks also tend to provide more comprehensive rewards programs and complimentary extras than credit unions. You can now add your credit card to Apple Pay and start making purchases on the go with your iPhone, iPad, Apple Watch or Mac with merchants that accept contactless payments, in participating apps and on the web. Best student credit card for cash back There's an unlimited amount of credit cards available to choose from today. Balance transfer offer: 0% for 6 months. Here are the best credit cards from credit unions. Mastercard ® Credit Cards The following is a list of issuers that issue Mastercard Credit Cards in Canada. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. This depends on the credit union you wish to deal with. They’ll work with you. While we receive compensation when you click links to partners, they do not influence our content. There’s a slew of credit card options out there, and it can be challenging to find the best deal—but this list of best credit cards in Canada is here to help. This means they often provide more competitive introductory offers than credit unions. When it comes to applying for a bank credit card, you don’t need to become a member or pay any annual fees, while you may also not need to open an everyday savings or chequing account. Only some credit unions will allow you to apply online for a credit card. We may also receive compensation if you click on certain links posted on our site. Our guide covers everything you need to know about credit union credit cards, including how they differ from banks and what you need to know to choose the credit card that’s right for you. Earn 1 Conexus Rewards point for every $1 spent Same interest rate for purchases and cash advances, You have to meet membership eligibility requirements, You must be at least 18 years of age to apply for a credit card in Canada, You must be a citizen or permanent resident of Canada, You must meet the membership requirements of the credit union. In comparison, banks and larger financial institutions operate more like conventional businesses. 901 King Street West Suite 400 The right credit card can be rewarding. Banks also offer added features through their credit cards, but you might have to pay higher annual fees. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Built in 2017, for Canadians by Canadians, creditcardGenius is trusted by more than 114,000 people every month, 38,000 newsletter subscribers, and … You’ll be required to provide certain pieces of ID that are current and not expired, such as your social insurance card, driver’s license, passport, or permanent Canadian resident card, … Just like the big banks, credit unions issue credit cards on major networks like Visa and Mastercard — so even if your credit union is small, you can use your card anywhere its network is accepted. low introductory interest rate for balance transfers, 5 big reasons you might need a digital bank for money transfers, Investing in your 30s: 8 wealth-building tips, American Express Essential Credit Card Review, Neo Financial High Interest Savings Account Review, How to cut the cost of sending money overseas in 2021. Credit unions focus on providing better member experiences and on improving their financial situation by providing quality products and suitable advice. To avoid potential disruption in service, register your trip using the GenFed Cards mobile app, the number on the back of your Mastercard (866-820-3844), or contact your local branch. Read through and see if any or all are appealing to you. Kevin Joey Chen is a credit cards, banking and investments writer whose work and analysis have appeared on CNN, U.S. News & World Report, Business.com, Lifehacker and CreditCards.com. Finder’s credit card experts reviewed more than 500 credit cards to assess which credit union cards offer the best value within several categories when compared to similar bank offerings, including travel, rewards, cash back and low APR. He's passionate about helping you get your finances in order by expertly navigating cutting-edge financial tools — including credit cards, apps and budgeting software. Using your credit card just became easier! You may also want to visit a specific credit union’s website or branch location for more details. How To Become a Member of a Credit Union. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. They may also come with extras such as rewards programs or complimentary travel insurance, alongside some other perks. Profit that banks generate goes to its shareholders, and the bank might invest some of it in different kinds of financial products. If you fall on hard times, a credit union may modify loans and card terms to help you out of your jam. Use the app to lock and unlock your GenFed Mastercard debit and credit cards. As a result, the credit cards available from credit unions tend to have lower ongoing interest rates and annual fees than those provided by banks. Servus Credit Union is stating our re-commitment to the Code of Conduct for the Credit and Debit Card Industry in Canada. With over 171 cards considered, these cards rose to the top. Whether you’re newly retired, just starting out or somewhere in between, we’ve got the cards that meet your needs. The Code was designed to protect credit union members’ interests related to the issuance and acceptance of payment cards, and to the operation of payment card networks.