About company
Sunshine Coast Credit Union is a financial cooperative founded in 1941 under the name of Roberts Creek Credit Union. Through years of operation, the credit union has become a financial institution with $850 million in total assets. Sunshine Coast Credit Union offers a full range of banking products and services to over 17,500 members across the Coast.
Features
Being on a mission to create value for its members, Sunshine Coast Credit Union offers competitively priced banking products and services.
The credit union regularly supports non-profit organizations, community programs, and charitable events.
Pros and cons
Here are the advantages of joining Sunshine Coast Credit Union:
Access to a range of personal and business products and services
Competitive rates for high-interest savings accounts and term deposits
Online and mobile banking capabilities
Access to over 4,000 surcharge-free ATMs
Still, there are disadvantages to keep in mind:
Higher mortgage rates compared to other financial institutions
Only three physical locations
Products
Sunshine Coast Credit Union offers the following personal banking products:
Chequing accounts with low monthly fees and a low to an unlimited number of monthly transactions included
Savings accounts to deposit your funds safely and earn a return at up to 1.40% interest rates
Credit cards with benefits like no annual fees, low rates, cash back, rewards, and no foreign transaction fees
Open and closed mortgages with fixed and variable rates ranging from 6.14% to 9.15% depending on the chosen term
Loans for different borrowing needs with pre-defined repayment terms
Lines of credit providing ongoing access to financing of up to an approved amount
Term deposits ensuring the safety of your principal investment and providing a guaranteed return at rates ranging from 0.40% to 4.50% depending on the chosen option
Mutual funds providing access to professionally managed portfolios of diverse investments
Registered Retirement Savings Plans (RRSPs) and Registered Education Savings Plans (RESPs) allowing you to grow your savings and investment income tax-free
Class ‘D’ Equity Shares allowing you to invest in the credit union directly
Insurance products like home, auto, travel, life, critical illness, and disability insurance coverage
Products for businesses are:
Business chequing accounts with different plans designed to meet the transactional needs of your business
Business savings accounts allowing you to earn interest on the extra cash your business has at a 0.50% interest rate
Business credit cards for entrepreneurs and their employees with benefits like o annual fees, low rates, cash back, and rewards
Business loans with fixed or variable rates and flexible repayment terms to finance your business expenses
Business lines of credit providing revolving access to an approved credit limit, with interest applied to a borrowed amount only
Letters of credit providing assurance of covering your financial obligations to a third party
Equipment financing options covering up to 75% of new equipment or 60% of used equipment cost
Commercial mortgages providing financing of up to 75% of the property’s value
Developer and construction financing options with customized terms to fit your business needs
Term deposits providing a 100% guarantee of your initial investment and a competitive return
Insurance products including business liability, business property, disability, and critical illness insurance coverages
Group benefits and individual health plans that can help you attract and retain employees
Services
Personal members can reach out to Sunshine Coast Credit Union for the following services:
Working with an advisor to get a personalized strategy for achieving your financial goals
Access to the Qtrade and VirtualWealth investment platforms allowing you to buy and sell investment securities online with low trading fees
The services for businesses include:
Payment solutions designed to help business owners receive payments from customers, set up pre-authorized debits and direct deposits, and send money globally through wire transfers
Business owner financial planning services to create a customized strategy for achieving your current and long-term business goals
Business owner retirement planning services to get expert advice on the right investments to meet your financial goals
Business owner succession planning services to get a personalized plan for securing the legacy of your business.
