Equity Credit Union Inc.
Open-bond member-owned credit union in Ajax, Ontario.
Overview
Equity Credit Union is an open-bond Ontario credit union headquartered in Ajax, founded in 1942 as Lever Brothers Credit Union and renamed Equity Credit Union in 2004.
No-Fee Chequing Accounts
Free
Available with no minimum balance or monthly usage limits.
Current Rates
GIC Rate Ladder
| Term | Rate |
|---|---|
| 1-Year GIC | 3.30% |
| 3-Year GIC | 3.70% |
| 5-Year GIC | 3.90% |
Pros
- • Deposit insurance up to $250,000 per category through FSRA
- • No-fee chequing with no minimum balance or monthly transaction cap
- • Solid digital banking with mobile app, online banking, and Interac e-Transfer
Cons
- • Small branch network limits in-person banking options outside the home region
- • Digital banking is functional but less polished than top-tier credit unions
Best For
Products & Accounts
Membership Eligibility
Ontario residents
Open to residents of Ontario. Membership requires purchase of a membership share.
Deposit Protection
FSRA
Unlimited in registered accounts. $250,000 per category in non-registered.
Financial Services Regulatory Authority of Ontario (FSRA) provides unlimited protection in registered accounts and up to $250,000 per category in non-registered accounts at Ontario credit unions.
Digital & Access
- Mobile App
- Online Banking
- Interac e-Transfer
- ATM NetworkTHE EXCHANGE Network
- Digital Ratingfair
Rate and eligibility data is gathered from official credit union websites and verified comparison sources. Always verify rates directly on the official website before making financial decisions.
Official WebsiteRelated reading
