BlueShore Financial Credit Union Review 2022

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by Enoch Omololu


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BlueShore Financial (formerly North Shore Credit Union) is the fourth largest credit union in the province of British Columbia.

Other really popular credit unions in BC are Vancouver City Savings Credit Union, Coast Capital Federal Credit Union, First West Credit Union, and Prospera Credit Union.

This review of BlueShore Financial covers the array of banking products and services they provide to their members.

Who is BlueShore Financial?

BlueShore Financial was founded in 1941. It has over 47,000 members and $5 billion in assets under management.

The credit union has 13 branches in British Columbia with locations in Vancouver, Burnaby, North and West Vancouver, Squamish, Pemberton, and Whistler.

Formerly known as North Shore Community Credit Union, it rebranded as BlueShore Financial in 2013.

BlueShore Financial is a member of Canada’s IMAGINE program and as a “Caring Company,” they donate at least 1% of their pre-tax profit every year to charities and not-for-profit organizations.

Members of BluShore can access over 4,500 surcharge-free ATMs across Canada (through The EXCHANGE and ACCULINK networks) and the United States (Accel network).

Related: Financial Checklist for Newcomers To Canada

BlueShore Financial Credit Union

BlueShore Financial: Personal Banking

BlueShore Financial offers a full suite of banking, financial planning, and wealth management services.

Chequing Accounts

Unlimited Chequing: $14 monthly account fee (waived with a minimum monthly balance of $5,000), unlimited everyday transactions, credit for payroll deposits, free cheques (your first order), and Canadian bank drafts.

Premium Chequing: $25 monthly fee (waived with a minimum monthly balance of $10,000), unlimited transactions, free small safety deposit box, free personal cheques, and World Mastercard or Travel Rewards Gold Mastercard, credit for payroll deposits (up to $5/month), free overdraft protection.

Unlimited Chequing: For members aged 19-24 years. No monthly fee, unlimited transactions, free cheques (your first order), and Canadian bank drafts.

Unlimited Chequing Golden: For members aged 59+, $10 monthly fee (waived with a minimum monthly balance of $5,000), free personal cheques (your first order), and Canadian bank drafts.

Pay As You Go Chequing: Pay per transaction.

Pay As You Go Chequing Youth: 25 free transactions/month and earns interest (up to 0.00%*).

Pay As You Go Chequing Golden: 30 free transactions per month and free cheques.

U.S. Chequing: No monthly account fee. Pay per transaction.

Related: The Best Online Wealth Managers in Canada

Savings Accounts

High-Interest Savings: No minimum balance, 1 free debit/month, earns a higher interest rate.

Savings Regular: 1 free transaction/month and earns interest.

Youth Savings: For members aged 18 and under; 10 free transactions per month, and earns interest.

Golden Savings: Clients age 59 and over, 10 free transactions per month, free Canadian bank drafts, and earns interest.

U.S. Savings: 1 free transaction per month, earns interest at 0.00%*.

  • TFSA savings
  • RRSP savings
  • RRIF savings
  • RESP savings

Loans and Credit

They offer lines of credit, mortgages, personal and RRSP loans, and credit cards.

BlueShore Personal Credit Cards include:

BlueShore Travel Rewards Gold Mastercard: $99 annual fee, 19.90% interest rate, earn 1 point per $1 spent, comprehensive travel benefits, auto rental collision/loss damage insurance, purchase protection, and extended warranty.

BlueShore Financial Centra Gold Mastercard: $50 annual fee, earn 1 point per $1 spent, travel accident insurance, purchase protection, extended warranty, auto rental collision/loss damage insurance, 9.90% interest rate.

BlueShore FlexRate Mastercard: $40 annual fee, variable interest rate (9.90% to 18.90%), earn 1 point per $1 spent, purchase protection and extended warranty, mobile device insurance.

BlueShore Financial Classic Mastercard: $30 annual fee, 11.90% interest rate, purchase protection/extended warranty, and mobile device insurance.

BlueShore Financial World Mastercard: $120 annual fee, 25 days grace period, earns 2 points per $1 spent, comprehensive travel insurance, purchase protection, price protection and extended warranty, auto rental collision/loss damage insurance.

BlueShore Financial Cash Back Mastercard: No annual fee card, 19.90% interest rate, earn 1 point per $1 spent.

BlueShore Financial Student Mastercard: No annual fee, 11.90% interest rate, purchase protection, extended warranty, and mobile device insurance.

U.S. Dollar Mastercard: $50 USD, 19.90% interest rate, earn 1 point per $1 USD spent, travel insurance benefits, auto rental collision/loss damage insurance, purchase protection, and extended warranty.

Their credit cards are offered in partnership with Collabria.

Related: Best Credit Cards for Bad Credit


Members have access to term deposits, mutual funds, exchange-traded funds, stocks, and bonds they can invest inside a TFSA, RRSP, RESP, RRIF, or RDSP account.

These securities are made available through Credential Securities.

BlueShore Financial: Business Banking

Business Operating Accounts

Business Chequing Account: They offer various packages with different price points based on the number of included “free” transactions with pricing from $6 to $70 per month.

Business U.S. Chequing: $6 monthly fee, 1 free transaction per month per $500 minimum monthly balance.

Community Chequing: $1.50 per month and includes up to 20 transactions (community groups). For incorporated non-profits ($3 per month and up to 30 transactions).

Business Savings Accounts

Business Investment Savings: Interest calculated daily, 2 free transactions per month, earns interest rate at 0.05%*.

Business U.S. Savings: 1 free transaction/month and earns interest.

Business Loans and Credit

Includes mortgages, lines of credit, credit cards, loans, and leasing services. They offer the following business credit cards:

  • Platinum Business Mastercard
  • Low Rate Business Mastercard
  • No-Fee Cash Back Mastercard
  • US Dollar Mastercard

Related: Best Business Credit Cards in Canada

Ways To Bank With BlueShore Financial

BlueShore Financial members can bank online, in-branch, via telephone, or by using the mobile app (available on Android and iPhone).

To reach them by phone, call 604-982-8000 or toll-free at 1-888-713-6728 Monday to Friday (8am to 8pm) and Saturday (9am to 5pm).

For the automated phone banking that is available 24/7, call 604-980-6728 or 1-888-713-6777.

To become a member, you must be 19 years of age or older, be a resident of British Columbia, and not have declared bankruptcy in the last 3 years.

Is BlueShore Safe?

Your deposits with BlueShore are 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia.

This includes funds in savings accounts, chequing accounts, term deposits, foreign currency deposits, and deposits in RRSPs and TFSAs. Accrued interest on the deposits is also protected.

Mutual fund investments, RRSP equity plans, and credit union shares are not included under this guarantee.


BlueShore Financial gives its members access to various financial products while also benefitting from the profits generated.

This BlueShore Financial review is part of a series on the Credit Unions in Canada.

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

1 thought on “BlueShore Financial Credit Union Review 2022”

  1. Blueshore made numerous mistakes that cost me thousands of dollars. Even when I pointed the mistakes out to them, they still argued. The problem was with an incorrect penalty applied to the discharge of my 5 year mortgage. Eventually my case was escalated to the CEO, who admitted numerous mistakes were made but told me he was powerless to compensate me for my losses.

    If you have had a mortgage discharged at Blueshore and paid a penalty I highly encourage you to seek outside advice as the incompetence in this organization is systemic. It runs from the call centre right through to branch managers.

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