Newfoundland and Labrador Credit Union
Newfoundland and Labrador's member-owned credit union.
Overview
Newfoundland and Labrador Credit Union (NLCU) is a member-owned credit union serving communities across Newfoundland and Labrador through 12 branches; a member-approved merger with Reddy Kilowatt Credit Union is underway.
No-Fee Chequing Accounts
Free*
- Minimum balance required
Specific thresholds vary by credit union. Visit Newfoundland and Labrador Credit Union's website for current requirements.
Current Rates
GIC Rate Ladder
| Term | Rate |
|---|---|
| 1-Year GIC | 2.50% |
| 3-Year GIC | 2.55% |
| 5-Year GIC | 2.80% |
Pros
- • Deposit insurance up to $250,000 per category through CUDGC
- • No-fee chequing available with a minimum balance requirement
- • Solid digital banking with mobile app, online banking, and Interac e-Transfer
Cons
- • Fewer specialized financial products and international banking services than other institutions
Best For
Products & Accounts
Membership Eligibility
Newfoundland and Labrador residents
Open to residents of Newfoundland and Labrador. Membership requires purchase of a membership share.
Deposit Protection
CUDGC
$250,000 per category
Credit Union Deposit Guarantee Corporation (CUDGC) provides $250,000 deposit protection per eligible category.
Digital & Access
- Mobile App
- Online Banking
- Interac e-Transfer
- ATM Networkding free® ATM Network
- Digital Ratinggood
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
