Credit Union
Rating by Finanso®

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.


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About company

Rapport Credit Union is a Toronto-based financial cooperative established in 2015 as a merger of two Canadian credit unions. With ten branches across Ontario, the credit union has 80 employees on staff and serves over 17,000 members. Rapport Credit Union is a full-service financial institution with about $313 million in assets under administration.


Rapport Credit Union positions itself as a new kind of financial institution that cares about its members. Through surveys and conversations, the board of directors determines the priority directions for the organization’s development. 

Rapport Credit Union invests in technology and develops partnerships to deliver relevant products and services. For example, it introduced Progress Rapport — an online financial wellness tool allowing you to self-assess your financial capability and health. Other useful services include direct email, text alerts, and Interac Online. 

Being notable for its community involvement, Rapport Credit Union regularly finances scholarships, financial literacy programs, and other community-focused activities. It also favors diversity in the workplace. 

Pros and cons

Here are the benefits of a Rapport Credit Union membership:

  • A variety of products and services for individuals and businesses

  • Fee-free savings accounts for students

  • Attractive GIC rates

  • Insurance coverage of eligible deposits through the Financial Services Regulatory Authority (FSRA)

  • Online, mobile, and telephone banking available

The drawbacks are:

  • Monthly fees for most chequing accounts

  • Low rates for savings accounts

  • Availability of banking solutions to Ontario residents primarily


Individuals can apply for the following banking products:

  • Chequing accounts that differ in the number of free monthly transactions included

  • Savings accounts with interest rates of 0.05% to 1.00% depending on the chosen option and account balance

  • Closed and open fixed and variable-rate mortgages with interest rates of 5.20% to 6.80% depending on the chosen solution

  • Loans and lines of credit with flexible repayment terms and rates determined individually based on your borrower profile

  • Credit cards with interest rates of 11.99% to 20.99% and a range of additional benefits to choose from

  • GICs with guaranteed returns and competitive rates of up to 5.50%

  • Mutual funds allowing you to invest in customized portfolios, with a minimum of $500 to get started

  • Registered plans enabling you to grow your savings and investments tax-sheltered

  • Insurance products including loan, travel, deposit, home, and auto insurance

For businesses, Rapport Credit Union offers the following products:

  • Business and agricultural accounts with different transaction volumes and monthly fees based on that volumes

  • Business term loans with fixed and variable rates, flexible repayment schedules, and up to 5-year terms

  • Business lines of credit secured by inventory, accounts receivable, and other business assets, and repayable on demand

  • Commercial mortgages providing financing to purchase land and buildings or make major renovations, with fixed and variable rates and flexible repayment terms


Here are the services for personal members at Rapport Credit Union:

  • Wealth management services from RapportWEALTH who will guide you on the right products for achieving your life goals

  • Access to Qtrade Direct Investing™ — an online platform for self–directed investing, with low trading fees

Business services include:

  • Merchant services designed to simplify receiving and processing of payments from your customers

  • Planning and investing services from Rapport Credit Union advisors and get expert advice on preserving and growing their wealth.

Rapport Credit Union


Who owns Rapport Credit Union?

Rapport Credit Union is different from banks that have external shareholders; it is a financial institution 100% owned by its members. When joining the credit union, each member buys five shares for $10 each and holds them while remaining a member.

Is Rapport Credit Union legitimate?

Rapport Credit Union is a financial institution headquartered at 18 Grenville Street, Suite One, Toronto, ON M4Y3B3, Canada. Since its foundation in 2015, it has built a reputation as a reliable financial partner. According to the Rapport Credit Union 2021 Annual Report, credit union members continued to deposit their funds with Rapport Credit Union during 2021 due to their trust in it as a secure financial service provider.

How to become a Rapport Credit Union member?

You can apply to become a Rapport Credit Union member online. Click “Become a Member” in the top navigation menu on the website and proceed with an online application form. Be ready to purchase five shares for $10 each to obtain a membership.

How to contact Rapport Credit Union customer service

You can contact the Rapport Credit Union Member Assistance center by phone at 416 925 1107 or 1 888 516 6664 or by email at [email protected]. The Rapport Credit Union Member Assistance center’s working hours are Monday through Friday from 8:00 a.m. to 6:30 p.m.

Are my funds safe at Rapport Credit Union?

Funds deposited by Rapport Credit Union members in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Deposits held in non-registered accounts have up to $250,000 coverage through FSRA.

Company documents

Direct Services Agreement - Personal Accounts
Direct Services Agreement — Small Business Accounts

Rapport Credit Union is a new kind of financial institution. Unlike the big banks, we spend the time required to get to know our members because they’re more than just customers to us. We want to give our members the right advice and a plan that will enable them to live the life they desire. We serve over 17,000 members at 10 branch locations, with close to 80 employees and approximately $313 million in assets under administration.

Rapport Credit Union is owned by our members, and we provide a full range of banking services, from savings and chequing accounts to loans and mortgages to financial planning and investment management. All at very competitive rates and backed by knowledgeable, helpful staff who pledge to put you first.

© Rapport Credit Union
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