About Crossroads Credit Union

Saskatchewan Credit Unions

History…

The first credit union in Saskatchewan – and in Western Canada – started in 1910 and the second opened in 1916. It wasn’t until the 1930s, however, that the credit union idea really took hold.

During the 1930s, crops were poor and wheat prices were very low. Credit unions offered people and communities a way to control their own financial future.

By pooling resources, credit unions helped farming communities survive during difficult times and thrive when economic conditions got better.

In 1937, a credit union opened in Regina followed by in Lafleche a year later. By the end of 1938, there were 14 credit unions in Saskatchewan.

Today, credit unions serve more than half a million members throughout the province.

Why Choose a Credit Union?

Credit Union members are owners and decision makers who have a say in the actions of their financial institution. Members participate in the running of the credit union by electing a board of directors to provide leadership and to ensure that the views of the members are recognized and represented.

Local ownership means local understanding. And, when you’re the owner, you share in the success of your credit union. Many credit unions distribute patronage dividends to members in accordance with prudent business practices.

Credit unions belong to a large co-operative network provincially, nationally and internationally. This network enables credit union to provide members with a full range of financial products and services.

We’re known for personalized, friendly service, providing a help hand when we’re needed, supporting our members and our communities year after year.

A Dynamic Network

The co-operative network, so vital to the growth and success of credit unions throughout Canada and the world, consists of specialized organizations meeting the various and sophisticated needs of our members.

This network includes:

Concentra Financial – provides financial intermediary and trusteeship services nationwide.
CUETS – a member of MasterCard International, CUETs supplies card-related products and services.
Corporate Banking – provides comprehensive community-based financial services packages to commercial and corporate businesses.
CULEASE Financial Services – provides commercial, industrial and agricultural leasing services through its alliance with local credit unions.
Credential Financial Inc. – a family of companies, including Ethical Funds Investment Services that allows credit unions to provide quality mutual funds and other securities.
The CUMIS Group Limited – offers a diverse portfolio of insurance and other non-financial service to members. MemberCARE Financial Services is part of the CUMIS Group.
The Co-operators – a group of wholly owned Canadian-owned companies focused on insurance.

Half a Million Members

Saskatchewan can boast that more than half of our population belongs to a credit union. As locally-owned financial institutions, we can also say that credit unions belong to their members and communities. And we’re here to stay.

With 10 million members, Canada has the highest rate of credit union membership in the world. Worldwide, there are 118 million credit union members in 79 countries.

We’re growing to meet the demands of today’s world while remaining the financial institutions you’ve trusted for years.

All Deposits Guaranteed

Saskatchewan credit unions instituted a bold, ground-breaking move in 1953 – a deposit guarantee. Saskatchewan’s Mutual Aid Board, now known as the Credit Union Deposit Guarantee Corporation was one of the first deposit guarantors in Canada. Fifty years later, the Deposit Guarantee Corporation continues to protect credit union depositors. Deposits held in Saskatchewan credit unions are fully guaranteed.

Superior Service

In survey after survey, credit unions are recognized for superior service. We are dedicated to meeting and exceeding the needs of our members and to helping them reach their financial goals.

We are full service financial institutions that offer experienced lending and wealth management services, plus Internet banking, telephone banking and online access to many products. A credit union MemberCard can be used across Canada and internationally.