Institution profile · Provincial credit union
Steinbach Credit Union
ActiveSteinbach Credit UnionProvincial insurer
Steinbach Credit Union is a Manitoba credit union established in 1941. Manitoba’s guarantee corporation covers its deposits in full.
Profile facts checked October 30, 2026
Mitey files the Steinbach Credit Union index card: cheapest everyday account $204 a year.
Is Steinbach Credit Union a good bank for everyday banking?
Steinbach Credit Union’s cheapest chequing account open to anyone, Classic Pack Chequing, costs $204 a year for a typical household (25 debit purchases, 6 bills and 5 e-Transfers a month), $155 below the national median of $359. Its best posted savings rate is 2% on $10,000. A provincial insurer, not CDIC, protects its deposits.
At a glance
- Legal name
- Steinbach Credit Union
- Type
- Provincial credit union
- Head office
- Steinbach, MB
- Founded
- 1941
- Regulator
- Deposit Guarantee Corporation of Manitoba
- Cheapest everyday account
- Classic Pack Chequing — $204 a year for the Everyday example
- Best posted savings rate
- 2% on $10,000 (High Interest Savings Account)
- Website
- scu.mb.ca
Is my money safe at Steinbach Credit Union?
All deposits guaranteed 100% by the Deposit Guarantee Corporation of Manitoba. Not CDIC.
Provincial rules: Manitoba — Unlimited.
What do Steinbach Credit Union’s chequing accounts cost?
Steinbach Credit Union lists 4 chequing accounts with FCAC. For our “Everyday” example (25 debit purchases, 6 bills, 5 e-Transfers and a $1,000 low balance a month), the cheapest account open to anyone is Classic Pack Chequing at $204 a year. Accounts limited to a group are marked.
| Account | Monthly fee and waiver | Included | Fees a year |
|---|---|---|---|
| Classic Pack Chequing | $17.00/mo, no balance waiver | Unlimited | $204 |
| Value Pack Chequing | $9.95/mo, no balance waiver | 35 a month | $211 |
| E-Pack Chequing | $5.50/mo, no balance waiver | Branch: 0 · self-serve: 15 | $341 |
| Standard Pack Chequing | No monthly fee | None included (each one is charged) | $406 |
- Classic Pack Chequing$204
- Value Pack Chequing$211
- E-Pack Chequing$341
- Standard Pack Chequing$406
- Cheapest in Canada: Personal Account · EQ Bank$0
- Median nationwide account$359
What would Steinbach Credit Union cost a typical household?
The cheapest Steinbach Credit Union account open to anyone for each of our four usage profiles, against the cheapest account in Canada for the same banking. Profiles are defined in the finder.
| Profile | Cheapest at Steinbach Credit Union | Fees/yr | Cheapest in Canada | Fees/yr |
|---|---|---|---|---|
| Light Mostly card and app, small balance | E-Pack Chequing | $112 | PC Money Account PC Financial | $0 |
| Everyday Household account, a few e-Transfers | Classic Pack Chequing | $204 | Personal Account EQ Bank | $0 |
| Heavy Lots of card, bill and e-Transfer payments | Classic Pack Chequing | $204 | Personal Account EQ Bank | $0 |
| Branch and cheques Teller visits, cheques, paper statement | Value Pack Chequing | $143 | Basic Bank Account Scotiabank | $134 |
Worked example — Classic Pack Chequing (Steinbach Credit Union), Everyday profile
| Monthly fee × 12 | $204 |
| Transactions beyond the included number (0 a month) × 12 | $0 |
| Other-bank ATM access fees (1 a month) × 12 | $0 |
| Paper statements × 12 | $0 |
| Fees a year | $204 |
Our take
Steinbach Credit Union is competitive: its cheapest open account costs less than the median Canadian account for everyday use. The cheapest account in Canada would save another $204 a year.
What savings rates does Steinbach Credit Union pay?
| Account | Rate at $10,000 | Monthly fee |
|---|---|---|
| High Interest Savings Account | 2% | No monthly fee |
| Daily Growth Savings Account | 1.5% | No monthly fee |
| Monthly Savings Account | 1.2% | No monthly fee |
What else should you know about Steinbach Credit Union?
- Established in 1941 by members of the Steinbach community.Source: scu.mb.ca
- DGCM coverage includes savings and chequing, RRSPs, RRIFs, TFSAs, GICs and FHSAs.Source: scu.mb.ca
Your own pattern can change the order. Put your numbers into the true-cost finder to rank Steinbach Credit Union’s accounts against everyone else’s.
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