Connect First Credit Union
Connect First Credit Union was an Alberta-based member-owned credit union offering retail, commercial, and agricultural banking products to individuals and businesses. Its operations and product lines were acquired by Servus Credit Union and continue under the 'Former connectFirst' brand.
- Company typePrivate
- Founded2010
- HeadquartersCalgary, Canada
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Connect First Credit Union does
Connect First Credit Union was a member-owned credit union headquartered in Calgary, Alberta, that provided retail and commercial banking products and services to individuals, businesses, and agricultural operators across Alberta. Its product offering spanned standard credit union lines including chequing and savings accounts, U.S. dollar accounts, mortgages, personal and commercial loans, credit cards, wealth and investment services, and insurance, alongside digital banking channels. The institution also engaged in direct commercial lending, including a $25 million committed revolver previously extended to High Tide Inc., a publicly listed cannabis retailer, illustrating a willingness to participate in non-traditional commercial credit.
Connect First Credit Union was structured as a private, member-owned cooperative rather than a shareholder-owned corporation, consistent with the Canadian credit union model. As a deposit-taking institution, its revenue mechanics were driven primarily by net interest income on its loan and deposit book, supplemented by fee income, wealth management commissions, and insurance distribution. It also extended commercial credit facilities, generating interest revenue from corporate borrowers in addition to its retail mortgage and consumer loan portfolios. Distribution was primarily through a physical Alberta branch network combined with online and mobile banking.
The entity's operations were subsequently acquired by or merged into Servus Credit Union, with Connect First's personal and business product lines now marketed under Servus's brand as 'Former connectFirst Personal Products' and 'Former connectFirst Business Products'. As a result, Connect First no longer operates as an independent brand; the legacy product set, member relationships, and branch infrastructure now sit within the larger Servus platform, which reports more than 500,000 members across Alberta.
Connect First Credit Union firmographics
Firmographics- Name
- Connect First Credit Union
- Website
- https://connectfirstcu.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Acquired
- Headcount range
- 501–1,000 employees
- Short description
- Connect First Credit Union was an Alberta-based member-owned credit union offering retail, commercial, and agricultural banking products to individuals and businesses. Its operations and product lines were acquired by Servus Credit Union and continue under the 'Former connectFirst' brand.
- Ownership category
- akta.pro rank
Connect First Credit Union industry classification
Industry- Product category
- Retail Banking
- NAICS
- Credit Unions (52213)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
Keywords
Where Connect First Credit Union is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Markets served
Connect First Credit Union business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Connect First Credit Union product offering
Product offeringCore offering
Connect First Credit Union was a member-owned credit union based in Alberta, Canada that provided personal and business banking products and services to Albertans, including chequing accounts, savings accounts, lending products, and mortgages. Following a business combination, the credit union's products and operations were acquired by Servus Credit Union and are now marketed as 'Former connectFirst Personal Products' and 'Former connectFirst Business Products'.
Differentiator
Problem solved
Functional benefit
Products and services
- Former connectFirst Personal Products
- Former connectFirst Business Products
Companies that use Connect First Credit Union
Customer profileIdeal customer profiles2 records
Connect First Credit Union technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Connect First Credit Union partnerships and signals
Strategic signalRecent moves3 records
Expansion highlights1 record
Connect First Credit Union competitors and assessment
Company assessmentDirect peers
- Servus Credit Union: Now the parent entity after acquiring Connect First's products and member book. Largest Alberta credit union, serving 500,000+ members with retail, business, and agri-banking across the same geography.
- Vancity Credit Union: British Columbia community credit union of comparable member scale, offering retail, business, and wealth products through a member-owned cooperative model — directly analogous positioning to Connect First, in a neighbouring province.
- Meridian Credit Union: Ontario's largest credit union, comparable in member count and product breadth (retail, mortgages, business). Closely mirrors Connect First's role as a province-level community financial cooperative.
- Conexus Credit Union: Saskatchewan-based community credit union with a strong agribusiness and retail banking franchise. Comparable mid-sized provincial cooperative with similar mix of personal, business, and agri lending.
- First West Credit Union: BC-based provincial credit union formed through community mergers, serving Western Canadian members with retail and commercial banking. Highly comparable structure and member-owned governance to Connect First.
- Innovation Federal Credit Union: Federally chartered Canadian credit union operating across multiple provinces, offering retail and small-business products. Comparable community credit union positioning with cross-province service capability.
- Affinity Credit Union: Saskatchewan-based member-owned credit union offering personal and commercial banking. Comparable mid-sized credit union by geography, scale, and product mix.
- Alterna Savings: Ontario and Quebec-based credit union with comparable member-owned structure and retail/business product offering. Directly comparable mid-sized Canadian credit union.
- Coast Capital Savings: British Columbia credit union with comparable member-owned cooperative model, retail and small-business banking focus, and similar scale. Closely analogously structured community credit union in Western Canada.
Broad incumbents
- Desjardins Group: Largest cooperative financial group in Canada, headquartered in Quebec. Operates full retail, commercial, and wealth franchises through the caisses network — a much larger incumbent operating the same member-owned credit union playbook nationally.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks4 records
Key highlights4 records
Customer concentration
Connect First Credit Union social profiles
Digital presenceConnect First Credit Union financial estimates
Financial estimateRevenue estimate
Valuation estimate
Connect First Credit Union leadership team
Management profileNumber of profiles
Connect First Credit Union funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Connect First Credit Union M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Connect First Credit Union
What does Connect First Credit Union do?
Connect First Credit Union was a member-owned credit union based in Alberta, Canada that provided personal and business banking products and services to Albertans, including chequing accounts, savings accounts, lending products, and mortgages. Following a business combination, the credit union's products and operations were acquired by Servus Credit Union and are now marketed as 'Former connectFirst Personal Products' and 'Former connectFirst Business Products'.
Is Connect First Credit Union a public or private company?
Connect First Credit Union is a private company. It is classified as corporate owned and is currently acquired.
When was Connect First Credit Union founded?
Connect First Credit Union was founded in 2010. It employs 501 to 1,000 people.
Where is Connect First Credit Union based?
Connect First Credit Union is headquartered in Calgary, Canada, in the North America region.
Who are Connect First Credit Union's main competitors?
Direct peers on record are Servus Credit Union, Vancity Credit Union, Meridian Credit Union, Conexus Credit Union, First West Credit Union, Innovation Federal Credit Union, Affinity Credit Union, Alterna Savings and Coast Capital Savings. Desjardins Group is listed as a broad incumbent.
Does Connect First Credit Union have an API?
No public API is recorded for Connect First Credit Union.
What industry is Connect First Credit Union in?
Connect First Credit Union's product category is Retail 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 6141.