Newfoundland and Labrador Credit Union Limited
This Page's Content Was Last Updated: July 21, 2026
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Credit Union
Newfoundland and Labrador
Newfoundland and Labrador Credit Union Limited is a credit union located in Newfoundland and Labrador. It was founded in 1957. It primarily serves Southeast region.
Newfoundland and Labrador Credit Union (NLCU) is the largest credit union in the province, serving members across communities in Newfoundland and Labrador. It operates as a full-service, member-owned financial institution offering personal and business banking, mortgages, loans, investments, and access to insurance services.
NLCU has been associated with financial service innovation in the province, including early adoption of computerized banking. It has also gained the ability over time to offer certain insurance and benefit products directly to members, reflecting differences in provincial regulatory frameworks.
With provincial roots and a cooperative structure, NLCU provides a local alternative to larger financial institutions. Its services support the financial needs of individuals, families, and businesses across Newfoundland and Labrador.
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: Basic Chequing
- Standard Fee
- $3.95/mo
- Free Transactions
- 12
- Insurance Limit
- $250,000 per category
Account details
- The account fee might be waived for seniors.
- This account allows 12 free transactions.
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- NLCU Basic Chequing is a $3.95-per-month chequing account with 12 included debit transactions per month. Eligible transactions include in-branch withdrawals and transfers, pre-authorized payments, ATM withdrawals, debit purchases, online bill payments, and Interac e-Transfers. Members age 59 and older pay no monthly fee through NLCU’s Seniors Program.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Guarantee Corporation (CUDGC NL). "Category" generally means separate coverage for each account type, such as individual, joint, trust, and each registered plan, though exact definitions vary slightly by province.
Chequing Account
2. Account: Masterplan Plus Chequing
- Standard Fee
- $29.95/mo
- Free Transactions
- Unlimited
- Insurance Limit
- $250,000 per category
Account details
- The monthly account fee is waived if you maintain a minimum balance of $5,000 in your account.
- This account allows Unlimited free transactions.
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- NLCU Masterplan Plus Chequing is a $29.95-per-month chequing account with unlimited included debit transactions, covering in-branch, ATM, online, debit card, pre-authorized payment, and bill payment activity. The monthly fee is waived when a minimum monthly balance of $5,000 is maintained. Over-the-counter bill payments are also included at no additional charge.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Guarantee Corporation (CUDGC NL). "Category" generally means separate coverage for each account type, such as individual, joint, trust, and each registered plan, though exact definitions vary slightly by province.
Savings Accounts
Savings Account
Account: Advantage
- Interest Rate
- 0.13%*
- Standard Fee
- Free
- Free Transactions
- 2
- Insurance Limit
- $250,000 per category
Account details
- This account allows 2 free transactions.
- 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 $0 to $25,000 0.125% $25,001 to $60,000 0.30% $60,001 to $100,000 0.40% $100,001 or over 0.50% - NLCU Advantage is a tiered savings account that pays interest on balances of $5,001 or more, with interest calculated daily and paid monthly. It includes 3 free NLCU ATM withdrawals and 2 free over-the-counter transactions per month. The account can also be accessed through ATMs, direct debit, and online banking.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Guarantee Corporation (CUDGC NL). "Category" generally means separate coverage for each account type, such as individual, joint, trust, and each registered plan, though exact definitions vary slightly by province.
Savings Account
Account: Plan 24
- Interest Rate
- 0.13%
- Standard Fee
- Free
- Free Transactions
- 0
- Insurance Limit
- $250,000 per category
Account details
- This account allows 0 free transactions.
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- NLCU Plan 24 is a daily interest savings account with no minimum balance requirement. Interest is calculated daily and paid monthly. The account includes 3 free transactions per month, with additional transactions costing $2 each. It also provides ATM access, automatic transfers to chequing when needed, deposit receipts, and semi-annual statements.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Guarantee Corporation (CUDGC NL). "Category" generally means separate coverage for each account type, such as individual, joint, trust, and each registered plan, though exact definitions vary slightly by province.
Key Financial Metrics and Trends
| Metric | 2024 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $784M | +3.4% | +15.1% |
| Loans | $665M | +1.7% | +19.2% |
| Deposits | $748M | +3.2% | +15.1% |
| Loan-to-Deposit Ratio | 88.9% | — | — |
| Mortgages + HELOCs | $508M | -3.6% | +10.2% |
| Securities | $53M | +3.9% | -43.6% |
| Revenue | $23M | +9.5% | +21.1% |
| Efficiency Ratio | 89.1% | — | — |
| Target Members / Region | Southeast region | — | — |
Newfoundland and Labrador Credit Union Limited Deposits, Loans and Revenue in the Past 5 Years
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