IC Savings & Credit Union
This Page's Content Was Last Updated: July 21, 2026
Credit Union
IC
IC Savings & Credit Union is a credit union located in Ontario. It was founded in 2000. It primarily serves Italian-Canadian community.
IC Savings was founded in 2000 as Italian Canadian Savings & Credit Union, with its first branch in Woodbridge, Ontario. Its origins are connected to the Italian Canadian community in the Greater Toronto Area and to the goal of providing cooperative banking through a locally focused, member owned financial institution.
Over time, IC Savings expanded its services while continuing to operate as a full service financial cooperative. It serves personal and business members with banking, lending, mortgages, investments, and financial advice. It also offers mortgage broker services for borrowers seeking more specialized lending support.
Today, IC Savings operates under its shortened name while retaining its legal and historical connection to Italian Canadian Savings & Credit Union. Its work focuses on cooperative banking, community relationships, and practical financial services for members.
Provinces served
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: Perfetto.
- Standard Fee
- Free
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- 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.
*Interest Rate Breakdown by Balance
Balance amount Interest rate For the balance up to $500,000 0.45% On the portion above $500,000 0.05% Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Accounts
Savings Account
Account: Euro Savings Account
- Interest Rate
- 0.05%
- 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: $10,000
- This limit may vary depending on the client profile.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Account
Account: Perfetto.
- Interest Rate
- 0.45%*
- Standard Fee
- Free
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- 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.
*Interest Rate Breakdown by Balance
Balance amount Interest rate For the balance up to $500,000 0.45% On the portion above $500,000 0.05% Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Credit Union Overview
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $1.03B | +9.4% | +14.0% |
| Loans | $884M | +6.3% | +11.1% |
| Deposits | $879M | +10.6% | +12.4% |
| Mortgages + HELOCs | $757M | +8.3% | +17.9% |
| Revenue | $32M | +18.5% | +33.3% |
| Efficiency Ratio | 56.2% | — | — |
| Members | ~18,000 | — | — |
| Branches | 8 | — | — |
| Target Members / Region | Italian-Canadian community | — | — |
IC Savings & Credit Union Deposits, Loans and Revenue in the Past 5 Years
For deeper insights into all Canadian lenders, subscribe to our comprehensive Lenders Report, with plans starting at just $100 per month.
Contact
If you're from IC Savings & Credit Union and would like to add or update information on this page, please fill out the form.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA® does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.