Credit Union
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Diamond North

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About company

Diamond North Credit Union is a financial cooperative established in 2006 in Nipawin, Saskatchewan. The credit union offers a full range of banking products and services and serves 15,000 members through its nine branches.

Features

Diamond North Credit Union is a financial institution governed by a member-elected Board of Directors.

As a socially responsible company, Diamond North Credit Union reinvests 3% of its pre-tax profits back into the local communities. In addition, the credit union regularly sponsors local events, makes charitable donations, finances financial literacy and scholarship programs, and encourages volunteering among its staff.

The credit union describes its goal as building financial success for the local community members.

Pros and cons

Here are the benefits of joining Diamond North Credit Union:

  • A wide range of products and services for both individuals and businesses

  • Fee-free chequing accounts for students and youth

  • Competitive interest rates for GICs and select savings accounts

  • Zero monthly fees for savings accounts

  • Insurance coverage of eligible deposits guaranteed by the Credit Union Deposit Guarantee Corporation (CUDGC)

  • Online and mobile banking capabilities 

  • Access to over 1,900 surcharge-free ATMs across Canada

The drawbacks are:

  • The lack of an online application for membership and most banking products

  • Availability of products and services to Saskatchewan residents primarily

Products

For personal members, Diamond North Credit Union offers the following products:

  • Chequing accounts with different transaction volumes included to meet your everyday banking needs

  • Savings accounts with zero monthly fees and interest rates of up to 1.25%

  • Youth chequing accounts with zero monthly fees and a low to an unlimited number of monthly transactions included 

  • U.S. Dollar chequing accounts enabling you to save on exchange rate variations

  • Open and closed mortgages with rates ranging from 5.69% to 6.49%

  • Loans available for terms of three months to five years at fixed or variable rates

  • Lines of credit providing access to an approved financing amount, with interest charged only to what you borrow

  • Student loans providing financing for post-secondary students

  • Credit cards with benefits like zero annual fees, low rates, cash back, rewards, and zero foreign transaction fees

  • Dealer financing solutions designed to help you buy a new or used car

  • GICs ensuring the safety of your initial deposit and providing a competitive return at rates ranging from 0.10% to 4.75%

  • Mutual funds enabling you to invest in professionally managed diversified investment portfolios

Products for business members include:

  • Chequing accounts with different transaction volumes included to meet the operational needs of your business 

  • Savings accounts with zero monthly fees and interest-earning capabilities

  • U.S. Dollar chequing accounts for businesses with operations in the U.S. dollars

  • Commercial mortgages providing financing for real estate projects of your business at fixed and variable rates

  • Business loans and lines of credit providing financing for various borrowing needs of your business, with flexible repayment terms

  • Lease options providing access to the equipment your business needs, with flexible repayment terms

  • Credit cards with benefits like zero annual fees, low rates, cash back, and rewards

Services

Personal members can apply for the following services from Diamond North Credit Union:

  • Access to Qtrade Guided Portfolios™ platform providing automated recommendations on the investments 

  • Access to Qtrade Direct Investing™ platform for self-directed investing, with low trading fees

  • Investment planning services provided by wealth experts to come up with the right investment plan for you

  • Full-service brokerage services to help you build and protect your wealth 

For businesses, Diamond North Credit Union offers the following services:

  • Payroll services allowing you to deposit payments directly into your payee accounts automatically

  • Merchant services offered in partnership with Clover enabling you to accept payments from your customers with ease

  • Government and CRA payment processing services designed to help you set up CRA deposits and make government payments

Diamond North

FAQ

Who owns Diamond North Credit Union?

Diamond North Credit Union is a 100% member-owned financial cooperative. Members can influence the decision-making in the credit union development and elect the Board of Directors, following the one member, one vote principle.

Is Diamond North Credit Union legitimate?

Diamond North Credit Union is a legal entity registered by Business Entity Data B.V. with the following LEI: 549300HGTE31HA9T5659. The credit union’s head office is at 100 1st Ave W, Nipawin, Saskatchewan, S0E 1E0, Canada.

Diamond North Credit Union ensures the protection of its members’ interests through its commitment to the Canadian Code of Practice for Consumer Debit Card Services and the Code of Conduct for the Credit and Debit Card Industry in Canada.

How to contact Diamond North Credit Union customer support?

You can reach out to the Diamond North Credit Union by calling their toll-free line at 1-855-862-4242. You can also send your request by filling out the contact form on the “Contact us” page.

Company documents

Market Code

At Diamond North Credit Union, we believe that supporting communities and demonstrating social and economic leadership are not optional – they’re fundamental to who we are, what we do, and how we serve our members.

© Diamond North Credit Union
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