Why choose a credit union?

Heard of a credit union, but not quite sure what it is or how it is different from a bank? Here are the common questions often asked about credit unions and the benefits of being a member of Access Credit Union.


What is a credit union?

Credit unions are full-service financial co-operatives that operate on the fundamental principle of democratic ownership – one member, one vote. Credit unions have everything you need for your day-to-day banking: chequing and savings accounts, lines of credit, mortgages, business loans, wealth management, and investment advice.


What makes a credit union different than a bank or other financial institution?

  • A credit union has members

The big difference between a credit union and a bank or other financial institution is that credit unions have members.


  • Members have democratic control

Members elect a board of directors annually. This group of elected representatives collectively oversees the activities and strategic direction of the credit union on behalf of the members.


  • Members are shareholders

A member of a credit union purchases a share upon opening their account with a credit union. This makes them a shareholder, giving them the power to vote and have a say in what the credit union does.

Who can join a credit union?

Co-operatives are voluntary organizations open to all persons able to use their services and willing to accept the responsibilities of membership without gender, social, racial, political, or religious discrimination. Anyone who wishes to join and meets the membership requirements can
become a member of Access Credit Union.

At Access Credit Union, you can:

  • Have democratic control over decisions

Access Credit Union is a democratic organization controlled by our members who actively participate in setting policies and making decisions.

  • Contribute to a better credit union

Members contribute equitably to, and democratically control, the capital of their co-operative. At least part of that capital is usually the common property of the co-operative.

  • Care for your community

Access Credit Union works for the sustainable development of our communities through policies approved by its members, which include charitable giving, volunteerism, and community involvement.

Why join Access Credit Union?

As a member of Access Credit Union, you gain the opportunity to participate in a successful co-operative financial institution that works to better your financial life, as well as make a positive contribution to the communities you live, work, and play in.

Access follows the co-operative principles, which are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity, and guide many of the decisions we make every day.

Become an Access Credit Union member today!

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