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Connect First Credit Union

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Namestring
Connect First Credit Union
Websiteurl
connectfirstcu.com
Company typeenum
Private
Founded yearint
2010
Descriptiontext

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.

Short descriptiontext

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.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
501–1,000
akta.pro rankint
HeadquartersCalgary, Canada
HQ citystring
Calgary
HQ countrystring
Canada
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
retail banking services, credit union lending, personal loans, mortgage products, savings accounts
Industry1 code
1Community Credit Unions (Retail/Consumer Focus)
CodeFSABAEAAPrimaryYes
NAICS code1 code
  • Credit Unions52213
SIC code1 code
  • Personal Credit Institutions6141
Product category
Retail Banking
Social media profiles1 record
Cost components5 values
Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
GTM typeB2B and B2C
B2B and B2C
Offering typeServices
Services
Core offering1 text field

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
Functional benefit
Problem solved
Product and service2 records
1Former connectFirst Personal Products
CategoryPersonal Banking
2Former connectFirst Business Products
CategoryBusiness Banking
Recent move3 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight1 record

Each record includes

Type, Description

Peers10 records
1Servus Credit Union
TypeDirect peer
Description

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.

2Vancity Credit Union
TypeDirect peer
Description

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.

3Desjardins Group
TypeBroad incumbent
Description

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.

4Meridian Credit Union
TypeDirect peer
Description

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.

5Conexus Credit Union
TypeDirect peer
Description

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.

6First West Credit Union
TypeDirect peer
Description

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.

7Innovation Federal Credit Union
TypeDirect peer
Description

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.

8Affinity Credit Union
TypeDirect peer
Description

Saskatchewan-based member-owned credit union offering personal and commercial banking. Comparable mid-sized credit union by geography, scale, and product mix.

9Alterna Savings
TypeDirect peer
Description

Ontario and Quebec-based credit union with comparable member-owned structure and retail/business product offering. Directly comparable mid-sized Canadian credit union.

10Coast Capital Savings
TypeDirect peer
Description

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.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks4 records

Each record includes

Headline, Details, Source

Key highlights4 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment4 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Connect First Credit Union

Retail Bankingconnectfirstcu.com

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.

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

  • Retail banking services
  • Credit union lending
  • Personal loans
  • Mortgage products
  • Savings accounts

Where Connect First Credit Union is headquartered

Location

Headquarters

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 offering

Core 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 profile

Ideal customer profiles2 records

Connect First Credit Union technology and API

Technology

Technology 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 signal

Recent moves3 records

Expansion highlights1 record

Connect First Credit Union competitors and assessment

Company assessment

Direct 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 presence

Connect First Credit Union financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Connect First Credit Union leadership team

Management profile

Number of profiles

Connect First Credit Union funding detail

Funding detail

Funding 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 investment

M&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.

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Live signals
YahooHIGH TIDE CLOSES $40 MILLION SENIOR SECURED CREDIT FACILITIESHigh Tide Inc. has closed $40 million in senior secured credit facilities with Bank of Montreal (BMO), consisting of a C$25 million revolving credit facility and a C$15 million delayed-draw term loan. The revolving facility was used to repay an outstanding C$6 million loan with ConnectFirst Credit Union, while the term loan will refinance existing C$15 million second-lien debentures. The company stated the new facilities materially increase financial flexibility and lower its cost of capital.Stock TitanHigh Tide Closes C$40M Senior Secured Credit FacilitiesHigh Tide Inc. has closed C$40 million in senior secured credit facilities with Bank of Montreal, consisting of a C$25 million revolving credit facility and a C$15 million delayed-draw term loan. The company used a portion of the revolving facility to repay its C$6 million outstanding loan with ConnectFirst Credit Union, with remaining capacity available for working capital, acquisitions, and investments. The new facilities replace existing senior credit and second-lien debentures, providing increased financial flexibility and a lower cost of capital.GlobeNewswireConnect First and Servus Credit Union closes fiscal year following merger in healthy financial positionServus Credit Union, the merged entity of Connect First and Servus, closed its fiscal year with total assets of $29.3 billion and assets under management of $37.6 billion. The credit union reported net interest income of $616 million and normalized income before taxes and patronage of $165.4 million. It also shared $88 million in profits with members in December 2024.PR NewswireSNDL Acquires Delta 9 Cannabis' Debt, Ascends to Senior Secured Creditor StatusSNDL Inc. completed the acquisition of Delta 9 Cannabis' debt from Connect First and Servus Credit Union Ltd. for CAD $28,138,284, becoming Delta 9's senior secured creditor with a first-priority security interest in all assets. This transaction brings SNDL's total indebtedness held by Delta 9 to CAD $40,653,352.The Globe and MailSNDL Acquires Delta 9 Cannabis' Debt, Ascends to Senior Secured Creditor StatusSNDL Inc. completed the acquisition of principal indebtedness from Delta 9 Cannabis Inc. for CAD $28,138,284, thereby ascending to senior secured creditor status. The debt was purchased from Connect First and Servus Credit Union Ltd. pursuant to an agreement dated July 5, 2024.GlobeNewswireServus marks second quarter with continued strong performance ahead of historic mergerServus Credit Union reported Q2 fiscal 2024 assets of $21.1 billion, up 10.5% year-over-year, ahead of its merger with connectFirst Credit Union. Net income rose 41.5% to $39.2 million, and the merger creates Connect First and Servus Credit Union Ltd. The company expects to deliver merger benefits expeditiously.GlobeNewswireConnect First and Servus Credit Union Announces New C-Suite TeamConnect First and Servus Credit Union announced the C-suite for their merged entity, comprising seven executives from both organizations. The team includes roles for risk, people, finance, strategy, operations, and IT, with CEO Ian Burns calling it a strong leadership team. The announcement follows the merger's closing.GlobeNewswireConnect First and Servus Credit Union announce inaugural Board ChairPerry Dooley was elected inaugural chair of the merged Connect First and Servus Credit Union, following the merger's first post-merger board meeting. The new credit union has over 3,000 employees and serves about 500,000 members across 140 branches in 80 Alberta communities.GlobeNewswireServus and connectFirst credit unions announce historic merger will proceedServus and connectFirst Credit Unions closed their merger on May 1, approved by the deposit guarantee corporation and over 84% of each membership. The combined credit union serves about 500,000 members across 140 branches in 80 Alberta communities. Ian Burns became president and CEO, with member-facing operations continuing largely as before.GlobeNewswireServus sees stellar growth and solid financial results in 2023Servus Credit Union reported record growth in fiscal 2023, with assets rising 10.9% to $20.3 billion and loans up 11.4% to $18.2 billion. Net income increased 0.9% to $77.8 million, and the credit union acquired Stride Capital Corp and proposed a merger with connectFirst Credit Union.