Gulf & Fraser
Gulf & Fraser (operating as Beem Credit Union) is a member-owned cooperative credit union in Burnaby, British Columbia serving nearly 200,000 members with personal and business banking, wealth management, insurance, and digital self-service via mobile and online channels.
- Company typePrivate
- Founded1940
- HeadquartersBurnaby, Canada
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Gulf & Fraser does
Gulf & Fraser, now operating as Beem Credit Union, is a member-owned cooperative financial institution headquartered in Burnaby, British Columbia, and founded in 1940. It serves approximately 200,000 members across BC, providing a full-service retail and small-business banking platform through a combination of physical branch locations, a mobile banking app on iOS and Android, and a web-based online banking portal. Core product lines include everyday banking (the no-monthly-fee Essentials spending account, plus savings, credit cards, and personal loans), mortgage and auto lending, business banking and commercial loans, wealth management and retirement planning through the Beem Wealth & Planning division, and personal insurance products through the Insure segment.
Revenue is generated principally from net interest income on the spread between loans (auto, home, and personal) and deposits, supplemented by transaction fees, account charges, recurring wealth management fees, and insurance product income. GTM is multi-channel: top-of-funnel awareness via social media (Facebook, Instagram, LinkedIn, YouTube), website content and blog, and community programs such as the Purple Cap Awards ($1M in annual BC student bursaries), combined with bottom-of-funnel conversion through an online welcome bonus ($400 for new spending account members) and direct, fully digital membership onboarding reachable in minutes via phone, laptop, or tablet. Operationally the credit union is differentiated by local decision-making, longer-tenured staff relationships, and community reinvestment messaging positioned against the "Big Bank" alternative, with regulatory membership in CUDIC for deposit insurance.
A strategic inflection occurred in 2024 with the rebrand from Gulf & Fraser to Beem Credit Union, signaling a refresh of brand and digital experience while preserving the cooperative ownership model. The technology footprint is largely a standard digital banking stack: mobile and online channels, online account opening, and member self-service tools, with an explicit technology vendor footprint (e.g., Arcstar) supporting the platform. Owned by members rather than shareholders, the institution does not have disclosed external funding, parent-company ownership, or venture/PE investment, and its growth is constrained geographically to British Columbia.
Gulf & Fraser firmographics
Firmographics- Name
- Gulf & Fraser
- Legal name
- Beem Credit Union
- Website
- https://gulfandfraser.com
- Company type
- Private
- Founded year
- 1940
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Gulf & Fraser (operating as Beem Credit Union) is a member-owned cooperative credit union in Burnaby, British Columbia serving nearly 200,000 members with personal and business banking, wealth management, insurance, and digital self-service via mobile and online channels.
- Ownership category
- akta.pro rank
Gulf & Fraser industry classification
Industry- Product category
- Credit Union Banking
- NAICS
- Credit Unions (52213)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
Keywords
Where Gulf & Fraser is headquartered
LocationHeadquarters
- HQ city
- Burnaby
- HQ country
- Canada
- HQ region
- North America
Markets served
Gulf & Fraser business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Interest Income: Spread between interest earned on loans (auto, home, personal) and interest paid on deposits
- Account Fees and Charges: Monthly fees, transaction charges and penalties on banking services
- Wealth Management Services: Investment and wealth planning services through Beem Wealth & Planning division
- Insurance Services: Insurance products offered through the Insure segment
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Essentials Spending Account with no monthly fee |
Distribution channels5 records
Marketing channels4 records
Gulf & Fraser product offering
Product offeringCore offering
Gulf & Fraser, operating as Beem Credit Union, is a member-owned community credit union providing personal banking (chequing, savings, mortgages, auto and personal loans, credit cards), business banking, wealth management and financial planning, and insurance products to approximately 200,000 members across British Columbia. Services are delivered through physical branches, an online banking platform, and a mobile banking app supported by financial wellness tools.
Product overview
Beem Credit Union (formerly Gulf & Fraser) operates as a credit union offering a unified financial services platform with multiple product lines. The core offerings include Personal Banking (checking, savings, loans, mortgages), Business Banking, Wealth Management, and Insurance products. The Essentials Spending Account serves as the primary no-fee checking product. Digital access is provided through the Beem Mobile Banking App for iOS and Android, while Financial Calculators support member planning activities. All products are delivered through a combination of digital channels (mobile app, online banking) and physical branch locations across British Columbia.
Differentiator
Problem solved
Functional benefit
Companies that use Gulf & Fraser
Customer profileSegments4 records
Ideal customer profiles4 records
Gulf & Fraser technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Gulf & Fraser partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- CUDICminorCUDIC (Credit Union Deposit Insurance Corporation) provides deposit protection insurance for Beem Credit Union members. This is a regulatory/mandatory partnership required for credit union operations in BC.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Gulf & Fraser competitors and assessment
Company assessmentDirect peers
- Vancity: Largest community credit union in British Columbia, offering personal/business banking, wealth, and insurance to members across BC. Directly comparable to Gulf & Fraser / Beem by geography, product set, and cooperative member-owned model.
- First West Credit Union: BC-based credit union formed through consolidation of multiple regional credit unions, serving members with personal, business, and wealth services. Comparable to Gulf & Fraser in BC focus and full-service cooperative model.
- Coast Capital Savings: Major BC credit union serving members with personal banking, mortgages, and wealth services. Overlaps directly with Gulf & Fraser in BC retail and business banking segments.
- BlueShore Financial: BC-based credit union focused on wealth and personal banking for clients in the North Shore and Greater Vancouver area. Comparable cooperative model and full-service offering to Gulf & Fraser.
Broad incumbents
- Desjardins Group: Largest cooperative financial institution in Canada, operating a federated network of credit unions across Quebec and Ontario. Comparable cooperative model and full-service offering, though at significantly larger scale and different geography.
- Tangerine (Scotiabank): Canadian direct bank owned by Scotiabank, offering no-fee digital banking. Competes with Gulf & Fraser for digitally-engaged Canadian retail banking customers seeking lower-fee alternatives to big banks.
- Royal Bank of Canada (RBC): Largest Canadian bank with full personal, business, wealth, and insurance offerings, including in BC. Gulf & Fraser explicitly positions against the big-bank model, making RBC a primary indirect competitor for member acquisition.
- Toronto-Dominion Bank (TD): One of Canada's Big Five retail banks with extensive BC presence. Competes with Gulf & Fraser for retail deposits, mortgages, and business banking across BC.
Emerging players
- Wealthsimple: Canadian digital wealth management platform that has expanded into chequing and savings accounts. Adjacent competitor for the wealth and everyday banking segments where Gulf & Fraser's Beem Wealth division operates.
Regional players
- Alterna Savings (now Haventree Bank): Ontario- and federally-operating Canadian credit union offering full personal, business, and wealth services. Comparable member-owned cooperative model to Gulf & Fraser though operating in a different primary geography.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Gulf & Fraser social profiles
Digital presenceGulf & Fraser compliance and trust
Trust signalCompliance1 record
Gulf & Fraser financial estimates
Financial estimateRevenue estimate
Valuation estimate
Gulf & Fraser leadership team
Management profileNumber of profiles
Gulf & Fraser funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Gulf & Fraser M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Gulf & Fraser
What does Gulf & Fraser do?
Gulf & Fraser, operating as Beem Credit Union, is a member-owned community credit union providing personal banking (chequing, savings, mortgages, auto and personal loans, credit cards), business banking, wealth management and financial planning, and insurance products to approximately 200,000 members across British Columbia. Services are delivered through physical branches, an online banking platform, and a mobile banking app supported by financial wellness tools.
Is Gulf & Fraser a public or private company?
Gulf & Fraser is a private company. It is classified as management employee owned and is currently operating.
When was Gulf & Fraser founded?
Gulf & Fraser was founded in 1940. It employs 251 to 500 people.
Where is Gulf & Fraser based?
Gulf & Fraser is headquartered in Burnaby, Canada, in the North America region.
How does Gulf & Fraser make money?
Four revenue lines are on record. Interest Income is the primary driver. The others are account Fees and Charges, wealth Management Services and insurance Services.
Who are Gulf & Fraser's main competitors?
Direct peers on record are Vancity, First West Credit Union, Coast Capital Savings and BlueShore Financial. Broad incumbents are Desjardins Group, Tangerine (Scotiabank), Royal Bank of Canada (RBC) and Toronto-Dominion Bank (TD). Wealthsimple is listed as an emerging player. Alterna Savings (now Haventree Bank) is listed as a regional player.
Does Gulf & Fraser have an API?
No public API is recorded for Gulf & Fraser.
What industry is Gulf & Fraser in?
Gulf & Fraser's product category is Credit Union Banking. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus). Its NAICS code is 52213 and its SIC code is 6022.