About UNI Financial Cooperation
UNI Financial Cooperation is a New Brunswick-based financial cooperative with a 75-year history. Founded in 1946, it has grown into the largest Acadian financial institution.
UNI Financial Cooperation’s 58 business locations and regional offices serve 157,000 members and clients. This financial cooperative has $5.2 billion in assets and $216.5 million in operating income.
Features
Being a financial cooperative focused on the province’s prosperity, UNI Financial Cooperation consists of 3 cooperative committees and 36 members. Currently, this financial institution is accelerating innovation by introducing advanced online services to its clients.
UNI Financial Cooperation provides financial products and services for both individuals and businesses.
Pros and cons
Here are the advantages of UNI Financial Cooperation:
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A wide range of products and services
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A variety of investment opportunities
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Specialized programs for select groups of clients — seniors, students, and farmers
The significant disadvantage is that UNI Financial Cooperation serves Arcadians primarily.
Products
UNI Financial Cooperation offers a range of products for individuals:
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Chequing accounts to perform everyday transactions with no interest applied to the balance
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Savings accounts to perform daily operations and save funds either in Canadian or in U.S. dollars
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Registered investment accounts like TFSAs, RRSPs, LIRAs, RDSPs, and RESPs to save and grow your money on a tax-advantaged basis
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The School Caisse account teaching children to manage money and set up financial goals
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Mortgage loans including fixed-rate, variable-rate, open, and closed mortgages
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Credit cards featuring various benefits — low rates, rewards on purchases, no annual fees, and other privileges
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Dealerships loans providing financing for either a new or used car purchase
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Home Buyers' Plan (HBP) allowing you to withdraw up to $35,000 from your RRSP for a down payment for purchasing a home
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Personal lines of credit providing revolving access to financing for any of your borrowing needs
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RRSP loans — financing solutions to optimize your RRSP contributions with fixed or variable interest rates and flexible repayment options
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Student lines of credit providing financing of up to $275,000 to cover your education-related expenses
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Versatile lines of credit — mortgage-secured lines of credit allowing you to leverage up to 80% of your home’s value to get financing for any of your needs
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Credit insurance options providing coverage for your financial obligations
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Investment vehicles like GICs, term deposits, MLGIs, and mutual funds for investors with different backgrounds and risk tolerance levels
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The Lifelong Learning Plan allowing you to withdraw funds from your RRSP to pay for full-time education or training
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The Registered Retirement Income Fund (RRIF) and the Life Income Fund (LIF) where you can transfer funds from an RRSP, LIRA, LIRA, or locked-in RRSP
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Savings goals — a savings product available on the web and mobile to help you achieve your financial goals
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An electronic signature providing a legal way to sign your documents remotely
For businesses, there are the following products at UNI Financial Cooperation:
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Drafts used to guarantee payment and avoid huge cash withdrawals right away
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Credit cards with various privileges — cash back rewards, corporate insurance plans, low annual fees, and more
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Export, import, and international letters of credit to obtain payment with ease and facilitate your purchases
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Investment credit — a revolving type of credit allowing for just one negotiation for all your projects implementation
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Mortgage loans to help business owners get financing for a land purchase, construction, or extension
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Operating lines of credit for a variety of business needs like financing your inventories or your accounts receivable at a competitive rate
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Terms loans providing financing for equipment purchases at competitive rates and with flexible repayment schedules
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Chequing accounts to perform everyday business transactions
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Savings accounts providing interest earnings on excess amounts held there
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AgriInvest accounts for farmers to deposit funds received under agricultural support programs
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Foreign currency accounts to perform transactions in U.S. dollars
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Group RRSPs for employees as a competitive advantage for your business
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Market-linked guaranteed investments (MLGIs) offering a 100% guarantee of your investment and a superior return rate
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Term investments for a fixed period with a guaranteed return rate
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Business loan insurance providing coverage for financial obligations of your business
Services
Individuals can apply for the following services from UNI Financial Cooperation:
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Access to Qtrade Direct Investing — an advanced trading platform to self-manage your investments
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A financial plan crafted for you individually by a dedicated financial advisor
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Virtual meetings with UNI Financial Cooperation’s advisors via your computer or mobile device
For businesses, there are the following services at UNI Financial Cooperation:
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Computerized Account Collection Service (CACS) allowing to receive automated payments from clients
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Direct Deposit and Withdrawal (DDW) service to speed up your account payables and receivables
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Payment solutions for merchants providing customers with more ways to pay you
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Payroll management solutions to help you pay your employees more effectively
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Client accounts management solutions to speed up receiving payments from your clients
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Deferred foreign exchange transaction solutions to mitigate the risks of future exchange rate fluctuation
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Supplier account management solutions to enhance your bill payments
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Access to government programs providing secured financing options
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International recovery services ensuring getting payment of the amounts owed to you
