🍁 Canada's Largest Credit Unions
Canada has 33 credit unions and credit union–like institutions with assets exceeding $1.5 billion. Together, they represent more than:
- 🔹 $871.5B in assets
- 🔹 $617.2B in loans
- 🔹 $614.5B in deposits
- 🔹 16.1 million members nationwide
Key Insights:
- 📊 Largest Credit Union: Desjardins is by far Canada's largest cooperative financial group, with more assets (including all subsidiaries & entities) than the rest of the top 33 combined at $510.2B in assets, $314.7B in loans, $329.5B in deposits, and 10M members.
- 🏦 ATB – A Unique Case: ATB Financial ranks second with $71.9B in assets, but is technically not a credit union. It is a provincially owned and operated Crown corporation of Alberta, included here for comparability given its similar role in the provincial banking ecosystem.
- 🌲 British Columbia: BC is home to three of the largest credit unions: Vancity ($31.5B), Coast Capital Savings ($31B, incl. Prospera & Sunshine Coast), & First West Credit Union ($14.8B). First West Credit Union has since become Tru Cooperative Bank, a federally regulated institution.
- 🟢 Other Provincial Leaders: Servus Credit Union leads Alberta's member-owned segment at $30.2B. Meridian Credit Union is the largest in Ontario at $27.3B. Access Credit Union leads Manitoba at $14.1B, while Conexus leads Saskatchewan at $12.4B, including Cornerstone and Synergy.
- 🤝 Mergers Continue to Reshape the Sector: Consolidation to gain scale remains a defining trend among Canadian credit unions. Recent mergers include:
- Coast Capital Savings, Prospera, and Sunshine Coast
- Innovation Federal Credit Union and ABCU
- Conexus, Cornerstone, and Synergy
- Alterna and Tandia
- Libro and Kawartha
- Coastal Community and Integris
- Kootenay Savings and Columbia Valley
- 👥 Membership Strength: Excluding Desjardins and ATB, Coast Capital Savings leads with 730K members, followed by Servus Credit Union (600K) and Vancity (588K). Some smaller ones also punch above their weight, notably Alterna Savings with 230K members on $10.8B in assets.
Key Developments to Watch:
- 🔸 Continued Consolidation: More mergers may follow as smaller credit unions face rising technology, compliance, and capital demands.
- 🔸 Digital Competition: Credit unions are investing heavily to match digital banking offerings from the Big Six banks and digital-first competitors.
- 🔸 Segment Specialization: Many credit unions focus on niches such as small business banking, agriculture, ESG lending, community finance, and Indigenous banking.
- 🔸 Federal Charters: A small number of credit unions have moved to federal regulation, enabling broader national operations.
33 Largest Credit Unions in Canada (May 2026)
| Province | Credit Union | Assets ▼ | Loans | Deposits | Members |
|---|---|---|---|---|---|
| QC, ON | Desjardins | $510.2B | $314.7B | $329.5B | 10M |
| AB | ATB | $71.9B | $60.5B | $48.9B | 849K |
| BC | Vancity | $31.5B | $26.1B | $26.8B | 588K |
| BC | Coast Capital Savings | $31B | $26.2B | $26.3B | 730K |
| AB | Servus Credit Union | $30.2B | $26.4B | $25B | 600K |
| ON | Meridian Credit Union | $27.3B | $23.6B | $19.5B | 390K |
| BC | First West CU / Tru Cooperative Bank | $14.8B | $13B | $11.9B | 290K |
| MB | Access Credit Union | $14.1B | $12.4B | $12B | 208K |
| BC | Beem Credit Union | $13.8B | $11.7B | $12.3B | 202K |
| SK | Conexus Credit Union | $12.4B | $10.2B | $10.2B | 200K |
| MB | Steinbach Credit Union | $11.1B | $9.6B | $9.7B | 115K |
| ON | Alterna Savings | $10.8B | $9.6B | $7.8B | 230K |
| MB | Assiniboine Credit Union | $10.1B | $8.6B | $9.1B | 216K |
| ON | Libro Credit Union | $9.1B | $8.2B | $7.7B | 180K |
| SK | Affinity Credit Union | $8.2B | $6.7B | $7.8B | 144K |
| ON | DUCA Financial | $7.2B | $6.2B | $6B | 92K |
| ON | FirstOntario Credit Union | $7.2B | $6.4B | $6.2B | 126K |
| ON | Windsor Family Credit Union | $6.1B | N/A | N/A | 80K |
| NB | UNI Financial Cooperation | $5.3B | $4.3B | $4.3B | 155K |
| MB | Cambrian Credit Union | $5.1B | $4.1B | $4.7B | 68K |
| SK | Innovation Federal Credit Union | $4.6B | $3.8B | $3.7B | 80K |
| BC | Coastal Community Credit Union | $4.5B | $3.7B | $4.1B | 110K |
| ON | Your Neighbourhood Credit Union | $3.2B | $2.9B | $2.4B | 65K |
| ON | Northern Credit Union | $2.6B | $2.3B | $2.2B | 83K |
| ON | Caisse Populaire Alliance | $2.6B | $2.3B | $2.1B | 56K |
| AB | Vision Credit Union | $2.5B | $1.9B | $2.2B | 38K |
| ON | Kindred Credit Union | $2.4B | $2.1B | $2B | 30K |
| SK | Prosperity Credit Union | $2.3B | $1.7B | $2B | 35K |
| MB | Sunrise Credit Union | $2.1B | $1.8B | $1.9B | 35K |
| BC | Kootenay Savings Credit Union | $2.1B | $1.8B | $1.9B | 40K |
| NS | East Coast Credit Union | $1.8B | $1.5B | $1.5B | 60K |
| MB | Fusion Credit Union | $1.7B | $1.5B | $1.5B | 30K |
| PE | Provincial Credit Union | $1.7B | $1.4B | $1.3B | 35K |
Totals: $871.5B in assets, $617.2B in loans, $614.5B in deposits, 16.16M members. Most data as of Dec. 2025. ATB is provincially owned and operated, but is not a member-owned credit union. Sources: Credit unions' annual reports, financial statements, official websites, and public disclosures.
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