About company
Access Credit Union is a financial cooperative founded in 1940 in Winkler, Manitoba. Established as a result of mergers of smaller Manitoba-based credit unions, Access Credit Union has become the second-largest credit union in the province. Through its 52 branches, the credit union serves over 168,000 personal and business members.
Access Credit Union has $10.15 billion in assets.
Features
Access Credit Union offers a range of personal and business banking products and services along with insurance products.
Access members can participate in the credit union management by electing the Board of Directors based on the one member, one vote principle. In addition, Access has the Membership Rewards program in place that allows members to earn cash back rewards from the credit union’s earnings in the previous year.
Access Credit Union is notable for its active community involvement and support of charitable and non-profit organizations.
For 8 years in a row, Access Credit Union earned the Top employer in Manitoba award.
Pros and cons
Let’s outline the pros of joining Access Credit Union:
Getting a share of credit union’s earnings through the Membership Rewards program
An opportunity to manage and control the credit union’s operations and policies
Getting the advantage of education and training programs for members
Participation in community development
Online application available for personal members
Safety of eligible deposits guaranteed by the Deposit Guarantee Corporation of Manitoba (DGCM)
Competitive rates for savings accounts and GICs
Online and mobile banking capabilities
Support from Member Solutions Centre
The cons of Access Credit Union are:
Availability of products and services to Manitoba residents primarily
The lack of an online membership application for business members
Products
Personal banking products from Access Credit Union include:
Chequing accounts with zero or low monthly fees and different options to meet your monthly transaction needs
Savings accounts with interest rates ranging from 0.10% to 3.05% and different options to meet your monthly transaction needs
Open and closed mortgages with fixed and variable rates ranging from 4.89% to 5.95% depending on the chosen option
Personal loans and RRSP loans providing one-time financing with a set repayment schedule
Lines of credit providing access to financing of up to an approved amount, with interest applied to what you actually borrow
GICs ensuring the safety of your initial deposit and providing a guaranteed return at an attractive rate
Mutual funds allowing you to pool your money in a professionally managed portfolio of diverse securities
Registered plans like an RRSP, TFSA, RRIF, RESP, and RDSP allowing you to grow your money on a tax-advantaged basis
Insurance products including travel, mortgage, loan, and line of credit insurance options to cover your expenses in case of unexpected life situations
Credit cards with benefits like no annual fees, low rates, cash back, and reward-earning opportunities
For business members, there are the following products at Access Credit Union:
Chequing accounts with zero fees, low fees, free deposits, and different numbers of monthly transactions included
Savings accounts with interest rates ranging from 0.10% to 2.75%
Mortgages providing financing for real estate projects of your business at competitive rates and with flexible repayment terms
Loans and lines of credit with competitive rates providing coverage for your daily business operations
GICs providing a guaranteed return over a fixed term, with terms available for one to five years in six-month increments
Mutual funds allowing you to invest in a professionally managed portfolio of diverse securities
Credit cards with benefits like no annual fees, low rates, cash back, and reward-earning opportunities
Services
With wealth management services from Access offered in partnership with Aviso Wealth, you can get a personalized strategy for achieving your long-term financial goals.
Business members can benefit from a range of payment solutions from Access Credit Union:
Corporate Capture Technology to scan your cheques and deposit them instantly into your accounts
Customer Automated Funds Transfer (CAFT) services to manage your incoming and outgoing payments
POS terminal payment solutions supporting various payment options.
