Institution profile · Provincial credit union
Vancity
ActiveVancouver City Savings Credit UnionProvincial insurer
Vancity is a Vancouver credit union founded in 1946 and insured by B.C.’s unlimited provincial deposit insurance. It merged with First Credit Union on December 1, 2025 and owns a Schedule I bank, Vancity Community Investment Bank.
Profile facts checked October 30, 2026
Mitey files the Vancity index card: cheapest everyday account $201 a year.
Is Vancity a good bank for everyday banking?
Vancity’s cheapest chequing account open to anyone, Essential Plus Chequing, costs $201 a year for a typical household (25 debit purchases, 6 bills and 5 e-Transfers a month), $158 below the national median of $359. Its best posted savings rate is 0.6% on $10,000. A provincial insurer, not CDIC, protects its deposits.
At a glance
- Legal name
- Vancouver City Savings Credit Union
- Type
- Provincial credit union
- Head office
- Vancouver, BC
- Founded
- 1946
- Regulator
- BC Financial Services Authority
- Cheapest everyday account
- Essential Plus Chequing — $201 a year for the Everyday example
- Best posted savings rate
- 0.6% on $10,000 (Jumpstart High Interest Savings)
- Website
- www.vancity.com
Is my money safe at Vancity?
Provincially insured by B.C.’s Credit Union Deposit Insurance Corporation (unlimited). Its subsidiary Vancity Community Investment Bank is a separate CDIC member.
Provincial rules: British Columbia — Unlimited.
What do Vancity’s chequing accounts cost?
Vancity lists 6 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 Essential Plus Chequing at $201 a year. Accounts limited to a group are marked.
| Account | Monthly fee and waiver | Included | Fees a year |
|---|---|---|---|
| Chequing Plus (Youth under 25)Youth (18 and under) | No monthly fee | Unlimited | $24 |
| Chequing Plus (age 65+)Seniors | No monthly fee | Unlimited | $24 |
| Essential Plus Chequing | $14.75/mo, or $0 with a $3,000 minimum balance | Branch: 1 · self-serve: unlimited | $201 |
| Pay As You Go Chequing | No monthly fee | None included (each one is charged) | $246 |
| Essential Chequing | $9.75/mo, or $0 with a $1,500 minimum balance | Branch: 0 · self-serve: 0 | $759 |
| Total Chequing Account | $25.75/mo, or $0 with a $6,000 minimum balance | Unlimited | n/a |
- Chequing Plus (Youth under 25) · youth only$24
- Chequing Plus (age 65+) · senior only$24
- Essential Plus Chequing$201
- Pay As You Go Chequing$246
- Essential Chequing$759
- Cheapest in Canada: Personal Account · EQ Bank$0
- Median nationwide account$359
What would Vancity cost a typical household?
The cheapest Vancity 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 Vancity | Fees/yr | Cheapest in Canada | Fees/yr |
|---|---|---|---|---|
| Light Mostly card and app, small balance | Pay As You Go Chequing | $100 | PC Money Account PC Financial | $0 |
| Everyday Household account, a few e-Transfers | Essential Plus Chequing | $201 | Personal Account EQ Bank | $0 |
| Heavy Lots of card, bill and e-Transfer payments | Essential Plus Chequing | $225 | Personal Account EQ Bank | $0 |
| Branch and cheques Teller visits, cheques, paper statement | Pay As You Go Chequing | $154 | Basic Bank Account Scotiabank | $134 |
Worked example — Essential Plus Chequing (Vancity Credit Union), Everyday profile
| Monthly fee (not waived: needs $3,000, $2,000 more than the $1,000 low balance) × 12 | $177 |
| Transactions beyond the included number (0 a month) × 12 | $0 |
| Other-bank ATM access fees (1 a month) × 12 | $24 |
| Paper statements × 12 | $0 |
| Fees a year | $201 |
Our take
Vancity is competitive: its cheapest open account costs less than the median Canadian account for everyday use. The cheapest account in Canada would save another $201 a year.
What savings rates does Vancity pay?
| Account | Rate at $10,000 | Monthly fee |
|---|---|---|
| Jumpstart High Interest Savings | 0.6% | No monthly fee |
| Tiered Savings | 0.5% | No monthly fee |
Is Vancity on the official lists?
| Legal entity | OSFI list | CDIC member |
|---|---|---|
| Vancity Community Investment Bank | OSFI — Schedule I domestic bank | Yes |
What else should you know about Vancity?
- Founded in 1946.Source: news.vancity.com
- Merged with First Credit Union effective December 1, 2025.Source: annualreport.vancity.com
- Owns Vancity Community Investment Bank, a Schedule I bank listed as a CDIC member.Source: cdic.ca
Your own pattern can change the order. Put your numbers into the true-cost finder to rank Vancity’s accounts against everyone else’s.
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