-have physical branches and ATMs

-have chequing, savings, mortgages, RRSPs, credit cards, loans, investments, etc

-highly regulated and secure



-owned by private shareholders

-goal is to make money for the shareholders

-wide range of services

-higher fees

-lower interest on savings

-sophisticated online presence and tech


Credit Unions:

-owned by members

-not for profit

-goal to serve members, not turn profit

-earnings to client dividends, invested back or given to community

-buy a share ($5-$50) for a membership

-higher interest on savings

-lower fees

-some CUs may have limited credit products

-some CUs may have less sophisticated online presence and technology compared to banks

-clients of one CU can use ATMs of other CUs without a fee


Credit unions in Kingston:

Kingston Community Credit Union (3 branches)

Kawartha Credit Union (3 branches)

Comtech Fire Credit Union (1 branch)

Limestone Credit Union (1 branch Kingston+ 1 Amherstview)

Unity Savings and Credit Union (information limited- maybe no longer running)


Prepared by: Lesley R.