How Credit Unions Work

Assiniboine Credit Union and other credit unions offer their members the usual financial products such as loans, mortgages, plus different kinds of accounts and investments and professional financial counselling. Of course, we're closely regulated to ensure our members' deposits are safe*.

We're fundamentally different than banks in a couple of areas, though; ownership, and principles of operation.

Everyone who joins a credit union becomes an owner in a financial co-operative, with a share equal to other owners. No more, no less. If you bank at a bank, you're a client, and you'll always be a client (unless you're a shareholder as well), and you won't have a say in how things are run. 

Co-operatives like ACU operate on the values of self-help, self-responsibility, democracy, equality, equity and solidarity.  Carrying on the tradition of our founders, today's Assiniboine Credit Union members still believe in the ethical values of honesty, openness, social responsibility and caring for others, as well as expert financial advice.

As financial co-operatives, credit unions are dedicated to the people and communities they serve and adhere to seven International Co-operative Principles:

  1. Voluntary and Open Membership
  2. Democratic Member Control
  3. Member Economic Participation
  4. Autonomy and Independence
  5. Education, Training and Information
  6. Co-operation among Co-operatives
  7. Concern for Community

Read more about the principles.

*Rest assured that all deposits are 100% guaranteed without limit by the Deposit Guarantee Corporation of Manitoba (DGCM). That means both the money you deposit and the interest you earn is safe and secure — up to any dollar amount.


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