Equity Credit Union Inc.
This Page's Content Was Last Updated: July 21, 2026
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Credit Union
Equity Credit Union Inc.
Equity Credit Union Inc. is a credit union located in Ontario. It was founded in 1943. It primarily serves Durham Region and Eastern Ontario.
Equity Credit Union was founded in 1943 by employees of the Lever Brothers soap factory in Toronto. Its early membership was connected to Lever Brothers and later Unilever employees, and the credit union operated under several names before formally becoming Equity Credit Union in 2004.
In 2002, Equity changed from a closed employee based credit union to an open bond institution, allowing membership to extend beyond its original workplace group. In 2010, it moved its headquarters from Toronto to Ajax, Ontario.
Today, Equity Credit Union serves members in Durham Region and beyond with personal banking, borrowing, mortgages, investments, and related financial services. It operates as a member owned cooperative with a focus on accessible service and local decision making.
Provinces served
Number of Members (as of 2025): ~4,000
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Savings Accounts
Savings Account
Account: Daily Interest
- Interest Rate
- 0.30%
- Standard Fee
- Free
- Free Transactions
- 0
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 0 free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $25,000
- This limit may vary depending on the client profile.
- Interest is paid quarterly.
- Equity Credit Union Inc. Daily Interest is a no-monthly-fee savings account with no minimum balance requirement. Interest is calculated on the daily balance and paid quarterly. The account is included under Equity’s NO FEE Banking model, which provides free debits, bill payments, transfers, and access to THE EXCHANGE Network ATMs.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Account
Account: Regular Savings
- Interest Rate
- 0.30%
- Standard Fee
- Free
- Free Transactions
- 0
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 0 free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $25,000
- This limit may vary depending on the client profile.
- Interest is paid semi-annually.
- Equity Credit Union Inc. Regular Savings is a no-monthly-fee savings account with no minimum balance requirement. Interest is calculated on the minimum monthly balance and paid semi-annually. The account is included under Equity’s NO FEE Banking model, which provides free debits, bill payments, transfers, and access to THE EXCHANGE Network ATMs.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Account
Account: SuperSaver High Interest Savings Account
- Interest Rate
- 2.50%
- Standard Fee
- Free
- Free Transactions
- 0
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 0 free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $25,000
- This limit may vary depending on the client profile.
- Equity's highest-yield savings account, positioned as a middle ground between everyday savings and locked-in investments: it pays a notably higher rate than regular savings while keeping full deposit insurance protection and monthly access to your money. Interest is calculated daily and paid monthly, and it requires a $1,000 minimum investment. It's deliberately stripped of transactional features, with no debit card use, cheques, electronic funds transfers, or bill payments available, so money moves in and out primarily by Interac e-Transfer or internal transfer.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Key Financial Metrics and Trends
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $386M | +4.3% | +11.9% |
| Loans | $336M | +1.2% | +7.0% |
| Deposits | $363M | +4.0% | +11.3% |
| Loan-to-Deposit Ratio | 92.6% | — | — |
| Mortgages + HELOCs | N/A | N/A | N/A |
| Securities | $24M | +4.3% | +9.1% |
| Revenue | $7M | +75.0% | +133.3% |
| Efficiency Ratio | 35.4% | — | — |
| Target Members / Region | Durham Region and Eastern Ontario | — | — |
Equity Credit Union Inc. Deposits, Loans and Revenue in the Past 5 Years
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