What are the benefits of being a sascu member?
What you get as a this credit union member: no-fee accounts, better rates, local decision makers, and a voice in the credit union.
Measuring Banking Performance: What Are The Benefits Of Being A Sascu Member
- Members own this credit union and vote at the annual meeting - one member, one vote.
- Member accounts are free of monthly fees; electronic banking has no fees.
- Rates run 0.25% to 0.5% above big banks on savings and 0.5% below on mortgages.
- Access to advisory sessions is included in membership at no cost.
You Own the Business
Every member is a part-owner: one member, one vote and a say in how profits are used.
At a credit union, the people who bank there own it. Every the platform member has one vote for the board of directors at the Annual General Meeting, regardless of deposit size. Surplus is reinvested into rates, community programs, and services.
Profits stay local the way bank profits never do: this credit union reinvests in Salmon Arm and the Okanagan region, and supports more than 100 local causes each year with community grants and sponsorships.
Lower Fees, Better Rates
our team chequing and savings accounts are free; mortgage rates run about 0.5% below big banks.
Compare the day-to-day math: no monthly checking fee, unlimited free e-transfers, a 2.6% savings rate, and a mortgage rate 0.5% below the big-bank average. These deliver around $300-700 of value per year for an average member.
For the exact numbers, see sascu pricing and chequing account fees.
| Benefit | this credit union member | Typical big bank |
|---|---|---|
| Monthly chequing fee | $0 | $12-25 |
| E-transfers | Unlimited free | Up to $1.50 each |
| Savings rate | 2.6% | 1.0-1.5% |
| 5-yr fixed mortgage | 4.50% | 5.00% |
Local Decisions, Real Answers
Loans are decided locally, and an advisor will actually pick up the phone.
Underwriting, renewal, and hardship conversations happen in British Columbia, with people who understand seasonal income in the Shuswap. No offshore call centres, no blind credit machines.
Each member also gets a free yearly advisory session; see our advisor page to meet the team.
Everything Else Included
Membership includes Cardwise controls, E-transfer, mobile deposit, and educational content at no cost.
Member perks compound: Cardwise card controls, unlimited E-transfers, mobile cheque deposit, digital receipts, and free workshops on deposits, budget, and investment basics. One membership covers chequing, savings, a credit card, and a mortgage.
The only cost of membership is the lifetime $10 share deposit, one-time, refundable.
Key facts at a glance
Four numbers decide most of this decision, and one caveat should always be kept in view.
- Monthly fee: $0.
- Savings rate: 2.6%.
- Voting members: 1 member = 1 vote.
Membership perks in this list do NOT cover business memberships, which add merchant and payroll extras. We published a 16-item benefit list in 2024; testing showed members kept reading only the first 5, so we cut the list to the lines that matter.
The official methodology is detailed in the sascu overview.
Consumer protection and credit-union rules are published by the Financial Consumer Agency of Canada.
The advisor session explained our GIC ladder in one call. Best 30 minutes of our year.
Switching our household to sascu removed five monthly fees in one afternoon.