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4 Best Credit Unions in Manitoba in 2024


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If you need to open a chequing account or savings account, get a credit card, or take out a loan, you may want to consider using a credit union instead of a bank.

I’ve used many credit unions in the past. In this guide, I’ll show you four of the best credit unions in Manitoba, including Assiniboine, Cambrian Credit Union, Steinbach, and Access Credit Union.

I’ll also share information on how credit unions differ from banks and how safe Manitoba credit unions are.

Key Takeaways

  • Credit unions are financial cooperatives run by their members and focus on helping the community instead of just making profits.
  • Four of the best in Manitoba are Assiniboine, Cambrian Credit Union, Steinbach, and Access Credit Union, which provide various banking solutions for individuals and businesses.
  • Manitoba credit unions are protected by the Deposit Guarantee Corporation of Manitoba (DGCM), which guarantees deposits.

What is a Credit Union?

A credit union is a financial cooperative run by its members, so each member has a stake and shares profits. Credit unions often give back to their members and the local economy.

There are over 200 credit unions in Canada, 19 of which are in Manitoba. Despite their differences from banks, they provide many of the same financial services, including chequing accounts, loans, and credit cards.

Credit Unions vs. Banks

Credit unions are very similar to banks regarding the financial services they provide, including chequing accounts, credit cards, loans, and savings accounts for individuals and businesses.

I don’t have a preference when it comes to credit unions or banks, and it depends on the services they provide and what I need.

Having said that, I like the fact that credit unions are owned by their members and that members have a say in the running of the credit union.

They also tend to reinvest in the local community and focus more on customer service and financial education.

On top of that, they sometimes offer better interest rates and lower fees for accounts compared to banks, but not always.

Best Credit Unions in Manitoba

Read on to find out more information about four of the best credit unions in Manitoba:

1. Assiniboine Credit Union

Assiniboine Credit Union calls itself a credit union that puts the community first. It has over $6 billion in assets, 17 locations in Winnipeg, and two in Thompson and Gillam.

It’s owned by over 139,000 people and has over 75 years of history. It offers a full suite of banking products for individuals and commercial customers.

As part of its personal banking services, it offers six chequing accounts, four savings accounts, a selection of credit cards, loans, lines of credit, investments, and mortgages, including first-time mortgages and refinancing.

Its business services include accounts and credit cards, business loans and lines of credit, commercial mortgages, investing products, and business insurance.

Check out this Assiniboine Credit Union detailed review.

2. Cambrian Credit Union

Over 66,000 members own Cambrian Credit Union, and its primary focus is on providing them with great products.

Its mission is to simplify banking while saving its members time and money. It has 12 branches in Winnipeg and one in Selkirk.

Its personal banking services include chequing and savings accounts. With Unfee, you can set up a monthly direct deposit and get your bank fees refunded. It also offers a US Dollar account.

Individuals can also get mortgages, personal loans and lines of credit, mortgages, and several investment options. It also provides five credit cards to choose from.

Businesses can also apply for banking accounts, credit cards, commercial mortgages, business loans, lines of credit, merchant services, and investment options.

3. Steinbach Credit Union

Steinbach Credit Union was first established in 1941, and it is now one of the largest credit unions in Manitoba. It has over $9.1 billion in assets and over 106,000 members, making it one of the largest in Canada, and it services individuals and businesses.

It has two branches in Winnipeg along with the SCU Business Lending Centre, which is by appointment only. It also has a branch in Steinbach, and its branches are open six days a week.

It offers a wide range of day-to-day banking and lending services, including 10 chequing accounts, four savings accounts, five personal credit cards, loans, lines of credit, and mortgages.

It also offers several insurance products and investment options, including RRSPs, RRIFs, and more, and it provides wealth management services.

The business and agriculture banking services include business accounts, commercial mortgages, and business credit cards.

Here’s an in-depth review of Steinbach Credit Union.

4. Access Credit Union

image showing access credit union homepage

Access Credit Union has over 175,000 members, over 895 employees, and $10.7 billion in assets, making it the largest credit union in Manitoba and one of the largest in Canada.

It was founded in 1940, and following a merger with Noventis Credit Union and Sunova Credit Union in 2022, it now has 52 branches in Winnipeg and the surrounding area as far north as Moosehorn and Ashern.

It offers a wide range of banking solutions, including ten chequing accounts, six savings accounts, mortgages, loans, lines of credit, investment options like RRSPs and RESPs, insurance including travel insurance and pet insurance, and five credit cards.

Its business banking services include various chequing accounts, savings accounts, business loans, commercial mortgages, and three business credit cards.

Are Manitoba Credit Unions Safe?

Manitoba credit unions are very safe when it comes to taking care of your funds. That’s because they’re protected by the Deposit Guarantee Corporation of Manitoba (DGCM).

Not only does this ensure credit unions have sound business practices to minimize the risk of loss, but it guarantees all deposits. This guarantee is unlimited for deposits in any Manitoba credit union.

However, it does not provide cover for non-deposit instruments like mutual funds.


Who is the largest credit union in Manitoba?

The largest credit union in Manitoba is Access Credit Union, with over 175,000 members and 52 branches.

How many credit unions are in Manitoba?

There are currently 19 credit unions in Manitoba. However, this number may change as credit unions merge together.

Are credit unions really better than banks?

While this comes down to personal preference, credit unions often have better customer service and lower fees than banks. They also tend to put more back into the local community.

What is the easiest credit union to get into?

Most credit unions are easy to get into as long as you meet some basic requirements.


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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

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