About company
Assiniboine Credit Union or ACU, is a Manitoba-based financial cooperative founded in 1943. Today, ACU has 19 branches in Winnipeg and two branches in Thompson and Gillam. ACU’s total assets exceed $6 billion.
Features
There are both personal and commercial banking products and services at ACU.
Once you join ACU, you get the voting right when choosing the board of directors and influencing the profit distribution.
ACU is notable for its community involvement — in particular, financing grants and sponsorships and offering different community-oriented programs.
Pros and cons
Here are the pros of joining ACU:
Products and services for both individuals and businesses
Safety of deposits guaranteed by the Deposit Guarantee Corporation of Manitoba (DGCM)
Zero fees for student and youth accounts
Competitive rates for high-rate savings accounts and GICs
Online, mobile, and telephone banking features available
The cons of ACU are:
Limited geographic availability of ACU’s products and services
Limited network of ATMs
Most chequing accounts involve minimum balance requirements to waive monthly fees
Products
For individuals, there are the following products at ACU:
Chequing accounts for everyday banking needs with a small to an unlimited number of transactions included
Savings accounts to deposit funds and earn interest with zero monthly fees and a small to an unlimited number of electronic and in-branch transactions included
Credit cards offered in partnership with Collabria featuring benefits like zero annual fees, cash-back, and reward-earning opportunities
Mortgages with both open and closed terms available at fixed and variable rates
Loans for different borrowing needs, including personal loans for any goals, RRSP loans to optimize your RRSP contributions, and auto loans to finance a purchase of a new or used car
Lines of credit for different categories of borrowers providing revolving access to an approved credit amount
Registered plans, including RRSPs, TFSAs, RESPs, RRIFs, and RDSPs, to grow your savings and investment income tax-free
Investment products like GICs providing 100% security and a guaranteed return on your initial investment, and mutual funds tailored to your individual investment needs
Insurance products, including travel, home, life, and vehicle insurance, as well as other options
Business clients can apply for the following products from ACU:
Chequing accounts for the daily banking needs of your business with a small to an unlimited number of transactions included
Savings accounts with zero monthly fees and interest-bearing capabilities
Credit cards featuring benefits like zero annual fees, and reward-earning opportunities
Loans with competitive fixed and variable interest rates and repayment terms of up to 10 years
Lines of credit providing access to a revolving credit amount at competitive variable interest rates
Commercial mortgages providing financing for purchase, expansion, or renovation real estate projects at fixed and variable interest rates
Commercial leasing providing access to equipment that your business needs
Investment products including business GICs that guaranteed the security of your initial investment and the expected return and mutual funds tailored to the investment needs of your business
Group RRSPs and services to help your employees save for retirement and have their contributions deducted from the payroll
Insurance products for business owners, including commercial property insurance, commercial general liability insurance, business interruption insurance, professional liability insurance, and more
Services
For individuals, there are the following services at ACU:
Incoming wire transfers to receive money transfers to your ACU account from anywhere in the world
Wealth management, including the creation of a personalized investment strategy to reach your financial goals
Digital investing opportunities for self-directed investors available through Qtrade Direct Investing™
Services for businesses include:
Incoming wire transfers to receive funds to your ACU business account from anywhere in the world
Customer-automated fund transfer services to pay employees and suppliers and receive payments faster
Merchant payment services providing customers with convenient ways to pay you
Commercial investment services to come up with a long-term personalized investment strategy for your business.
