Northern Savings Credit Union
This Page's Content Was Last Updated: July 21, 2026
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Credit Union
Northern Savings
Northern Savings Credit Union is a credit union located in British Columbia. It was founded in 1940. It primarily serves Queen Charlotte, Prince Rupert, Terrace and Masset.
Northern Savings Credit Union has roots reaching back to 1940, including through Prince Rupert Fishermen’s Credit Union on British Columbia’s northwest coast. Its early development reflected the need for local financial services in coastal and island communities with distinct geographic and economic conditions.
Over time, several north coast and Haida Gwaii credit unions consolidated, and the Northern Savings name was adopted in the 1990s. Terrace & District Credit Union later joined, extending the credit union’s reach inland while maintaining its regional focus.
Headquartered in Prince Rupert, Northern Savings serves communities in northwestern British Columbia and on Haida Gwaii with personal and business banking, insurance, investing, and financial advice. Its work is focused on local decision-making, member service, and financial support for the coastal, island, Indigenous, and fishing communities it serves.
Provinces served
Number of Members (as of 2025): ~17,000
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: Essential
- Standard Fee
- $10.00/mo
- Free Transactions
- 25
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- The monthly account fee is waived if you maintain a minimum balance of $2,000 in your account.
- This account allows 25 free transactions.
- 5 free Interac e-Transfers are included each month.
- 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.
- Northern Savings Credit Union Essential is a $10-per-month chequing account with 25 included debit transactions and 5 Interac e-Transfers per month. It also includes unlimited deposits. The monthly fee is waived when a minimum monthly balance of $2,000 is maintained. Additional transactions beyond the included allowances are charged individually.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), administered by BCFSA.
Chequing Account
2. Account: Ultimate
- Standard Fee
- $23.00/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 $5,000 in your account.
- The account fee may be waived for students and youth.
- This account allows Unlimited 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.
- Northern Savings Credit Union Ultimate is a $23-per-month chequing account with unlimited debit transactions and Interac e-Transfers. It includes 100 personalized cheques annually, money orders, and official cheques. The fee is waived for members under 26, students with at least a 60% post-secondary course load, or a $5,000 minimum monthly balance.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), administered by BCFSA.
Savings Accounts
Savings Account
Account: Simply Savings
- Interest Rate
- 0.05%
- Standard Fee
- Free
- Free Transactions
- 2
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- This account allows 2 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.
- Northern Savings Credit Union Simply Savings is a no-monthly-fee savings account with tiered interest and unlimited deposits. It includes 2 debit transactions per month. A debit includes withdrawals made in branch, by cheque, ATM, point-of-sale purchase, bill payment, transfer, or pre-authorized debit. Additional transactions are charged individually.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), administered by BCFSA.
Savings Account
Account: TFSA 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.
- Northern Savings Credit Union TFSA Savings is a no-monthly-fee Tax-Free Savings Account with unlimited deposits. Interest earned within the account is tax-free, and contributions are subject to the member’s available TFSA contribution room. Withdrawals are tax-free, with withdrawn amounts added back to available contribution room in the following calendar year.
Deposit Insurance
Deposits are insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), administered by BCFSA.
Key Financial Metrics and Trends
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $881M | +10.5% | +16.2% |
| Loans | $574M | +24.2% | +32.0% |
| Deposits | $803M | +10.9% | +14.7% |
| Loan-to-Deposit Ratio | 71.5% | — | — |
| Mortgages + HELOCs | $399M | +27.1% | +35.7% |
| Securities | $275M | -1.1% | +1.1% |
| Revenue | $29M | +3.6% | +31.8% |
| Efficiency Ratio | 76.1% | — | — |
| Target Members / Region | Queen Charlotte, Prince Rupert, Terrace, Masset | — | — |
Northern Savings Credit Union Deposits, Loans and Revenue in the Past 5 Years
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