1st Choice Savings & Credit Union Ltd
This Page's Content Was Last Updated: July 21, 2026
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Credit Union
1st Choice
1st Choice Savings & Credit Union Ltd is a credit union located in Alberta. It was founded in 2001 through the merger of Southland Credit Union and St. Patrick's Savings and Credit Union. It primarily serves Southern Alberta.
1st Choice Savings & Credit Union is a Lethbridge based financial cooperative with roots reaching back to 1938, when St. Patrick’s Credit Union began serving members in the city. A separate predecessor, Lethbridge Central Savings & Credit Union, was formed in 1941 and later became Southland Credit Union through local amalgamations. In 2001, Southland and St. Patrick’s joined together to create 1st Choice Savings.
Today, 1st Choice serves communities across southern Alberta with personal, business, and agricultural banking, including lending, mortgages, investments, and financial advice. Its work is focused on cooperative ownership, local service, and financial support for families, farms, and businesses in the region.
As a member owned cooperative, 1st Choice emphasizes fair treatment, personalized service, and the use of member deposits to support local financial activity.
Provinces served
Number of Members (as of 2025): ~18,000
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: Daily Choice
- Standard Fee
- $17.95/mo
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- The monthly account fee is waived if you maintain a minimum balance of $1,000 in your account.
- This account allows Unlimited free transactions.
- E-Transfers are excluded from the transaction limit and is unlimited.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- 1st Choice Savings Daily Choice is a $17.95-per-month chequing account with unlimited debit transactions and unlimited Interac e-Transfers. The monthly fee is waived with a minimum balance of $1,000. Transactions at 1st Choice Savings and other credit union ATMs are free, and Canadian drafts and in-house cheques are included at no charge.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Guarantee Corporation (CUDGC Alberta).
Chequing Account
2. Account: Low Fee Chequing
- Standard Fee
- $3.95/mo
- Free Transactions
- 12
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- The account fee might be waived for seniors.
- This account allows 12 free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- 1st Choice Savings Low Fee Chequing is a $3.95-per-month chequing account with 12 included transactions per month. Additional transactions cost $1.25 each, with monthly account and transaction charges capped at $13.95. Discounts are available for members age 65 and older receiving the Guaranteed Income Supplement and for Registered Disability Savings Plan beneficiaries.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Guarantee Corporation (CUDGC Alberta).
Savings Accounts
Savings Account
Account: Choice Savings
- Interest Rate
- 0.05%
- Standard Fee
- Free
- Free Transactions
- 0
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- This account allows 0 free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- 1st Choice Savings Choice Savings is a no-monthly-fee savings account with no minimum balance requirement. It earns interest and includes 2 debit transactions per month before additional debit transactions cost $0.75 each. Interac e-Transfers cost $0.75 each. Credit union ATM withdrawals cost $0.75, while other Canadian bank ATMs cost $1.50.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Guarantee Corporation (CUDGC Alberta).
Savings Account
Account: High Interest Savings
- Interest Rate
- 1.00%
- Standard Fee
- Free
- Free Transactions
- 0
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- This account allows 0 free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- 1st Choice Savings High Interest Savings is a no-monthly-fee savings account with no minimum balance requirement. The account includes 2 debit transactions per month, with additional debit transactions costing $0.75 each. Interac e-Transfers cost $5 each. Online and mobile banking and eStatements are also available with the account.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Guarantee Corporation (CUDGC Alberta).
Key Financial Metrics and Trends
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $940M | +13.1% | +37.4% |
| Loans | $820M | +17.0% | +56.8% |
| Deposits | $807M | +7.2% | +29.5% |
| Loan-to-Deposit Ratio | 101.6% | — | — |
| Mortgages + HELOCs | $538M | +12.3% | +49.9% |
| Securities | $36M | +24.1% | -70.5% |
| Revenue | $20M | +25.0% | +5.3% |
| Efficiency Ratio | 86.4% | — | — |
| Target Members / Region | Southern Alberta | — | — |
1st Choice Savings & Credit Union Ltd Deposits, Loans and Revenue in the Past 5 Years
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