Assiniboine Credit Union

What Assiniboine Credit Union does

Assiniboine Credit Union (legal name: The Assiniboine Credit Union Limited) is a member-owned financial cooperative incorporated under Manitoba credit union legislation and headquartered in Winnipeg, operating across the province of Manitoba under the trade name ACU. The institution provides a full suite of retail and commercial banking services including chequing and savings accounts, mortgages (including a Shariah-compliant Islamic mortgage and specialty products), personal and business lending, lines of credit, credit cards issued through Collabria under a Visa license, wealth management (registered plans — FHSA, RESP, TFSA, RRSP, RRIF, RDSP — mutual funds, and GICs), and dedicated business and agricultural banking through a Business Financial Centre. A specialized Community Financial Centre serves small businesses, cooperatives, not-for-profits, and social enterprises. Distribution combines a Manitoba-wide branch and ATM network with an online banking platform, iOS/Android mobile app, mobile mortgage specialist field sales, and digital wallet integrations (Apple Pay, Google Pay, Interac e-Transfer).

ACU's technology stack is a standard credit union core augmented with consumer-facing security and digital money management: 256-bit TLS encryption for web and mobile, two-factor authentication with one-time passcodes, biometric facial-recognition identity verification, a secure email portal, Google reCAPTCHA, and digital money management tools delivered through a partnership with MX Technologies Inc. Third-party integrations include Interac e-Transfer for payments, Collabria Financial Services for Visa card issuance, Apple Pay/Google Pay tokenization, and MX Technologies for account aggregation, budgeting, and spending insights. ACU holds B Corp certification as the only Manitoba-based financial institution with this status, maintains CASL and PIPEDA compliance, and is protected by a 100% deposit guarantee from the Deposit Guarantee Corporation of Manitoba.

The revenue model centers on recurring net interest margin from deposits and lending (mortgages, personal, business, agricultural, and commercial loans and lines of credit), supplemented by transactional fee streams — account service fees, credit card interchange via Collabria Visa, mutual fund and wealth management commissions, GIC placements, and insurance product distribution through partnerships. Customer acquisition is predominantly direct-to-consumer via branch walk-ins, community referrals across a documented ecosystem of 30+ partner organizations (SEED Winnipeg, United Way of Winnipeg, Manitoba Start, Manitoba Islamic Association, Assembly of Manitoba Chiefs, Province of Manitoba, Tec Voc High School, and numerous Savings Circle and IDA referral partners), digital channels (social, blog, paid digital, SEO), and purpose-driven, values-based messaging. The Legacy Bursary Award program (2025) honors the historical merger integration of Westoba, Caisse, and Entegra into the current ACU entity.

Name

Assiniboine Credit Union

Legal name

The Assiniboine Credit Union Limited

Website

https://assiniboine.mb.ca

Company type

Private

Founded year

1943

Operating status

Operating

Headcount range

251–500 employees

Short description

Assiniboine Credit Union is a Manitoba-based member-owned financial cooperative offering full-service personal, business, agricultural, and community banking through branch, online, and mobile channels, including specialty products for Indigenous, newcomer, and underserved communities, and is distinguished as the only B Corp-certified credit union in the province.

Ownership category

akta.pro rank

Product category

Cooperative Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Cooperative credit union
• Commercial lending products
• Wealth management services
• Mortgage financing solutions

Headquarters

HQ city

Winnipeg

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Lending/Interest Income: Interest income from mortgages, personal loans, business loans, lines of credit, and commercial financing
2. Deposit Account Fees: Monthly service fees, transaction fees, and account maintenance charges for chequing and savings accounts
3. Wealth Management Products: Revenue from mutual funds, GICs, registered plans (RRSP, TFSA, RESP), and investment advisory services
4. Credit Cards: Collabria Visa credit card issuance and interchange fees
5. Insurance Products: Insurance products and services offered through partnerships

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Assiniboine Credit Union is a member-owned financial cooperative providing retail and commercial banking products to Manitobans through branches, an online platform, and a mobile app. Its core offering covers chequing and savings accounts, mortgages and specialty mortgages, credit cards, personal and business lending, lines of credit, commercial financing for business and agriculture, and wealth management (registered plans, mutual funds, GICs).

Product overview

Assiniboine Credit Union operates as a Manitoba-based credit union offering a comprehensive suite of financial products and services through both a unified digital banking platform (online and mobile app) and in-person branch services. The core product portfolio spans personal banking (chequing, savings, mortgages, credit cards, borrowing), business and agricultural banking, and wealth management. Notable specialized offerings include the Community Financial Centre for mission-driven organizations, faith-based Islamic mortgage products, New to Canada banking programs, and Asset Building Programs with matched savings. Wealth management is delivered through registered plans (FHSA, RESP, TFSA, RRSP, RRIF, RDSP), mutual funds, and advisor-guided services. ACU positions itself as a values-based, B Corp certified institution focused on community impact and financial inclusion.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Chequing Accounts Personal chequing accounts with various fee structures and features designed for day-to-day banking needs of individual members.
• Personal Savings Accounts Personal savings account products including registered accounts (TFSA, RRSP, RRIF) and non-registered savings options for members.
• Mortgages Mortgage offerings including fixed and variable rate mortgages, refinancing, renewals, first-time home buyer programs, and specialty mortgage solutions such as Islamic mortgages for faith-based financing.
• Personal Borrowing Products Personal lending solutions including personal loans, lines of credit, and other credit facilities for various financial needs of individual members.
• Personal Insurance Personal insurance products and services offered to individual members through partnerships.
• ACU Collabria Visa Credit Cards Personal and business credit card products offering various cardholder benefits and rewards programs, issued through Collabria Financial Services Inc. and branded as ACU.
• Business Chequing and Savings Accounts Day-to-day business banking products including business chequing accounts, business savings accounts, agriculture chequing accounts, and agriculture savings accounts for Manitoba businesses and farms.
• Business Loans, Lines of Credit, and Commercial Financing Business loans, lines of credit, commercial mortgages, and commercial leasing/finance tailored to Manitoba businesses and agricultural operations.
• Business GICs, Mutual Funds, and Group RRSPs Business investment products including business guaranteed investment certificates, mutual funds, group RRSP plans and services, commercial investment services, and business insurance.
• Business Credit Cards Credit card products designed for business spending and operational needs of ACU's commercial members.
• Business Payment Services Payment services for business customers including merchant services and payment processing solutions.
• Community Financial Centre Services Specialized financial services division supporting small businesses, cooperatives, not-for-profits, and social enterprises with personalized lending solutions, cash flow management, and advisory services grounded in values-based banking principles.
• Wealth Management — Registered Plans Registered savings and retirement plans including First Home Savings Account (FHSA), Registered Education Savings Plan (RESP), Tax-Free Savings Account (TFSA), Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), and Registered Disability Savings Plan (RDSP).
• Wealth Management — Mutual Funds and GICs Mutual funds and Guaranteed Investment Certificates (GICs) distributed to members through ACU Wealth Management.
• ACU Wealth Management Advisory Advisor-guided investment services delivered through ACU Wealth Management for members seeking personalized portfolio advice.
• ACU Wealth Strategies Specialized wealth strategies service providing tailored financial planning solutions through ACU's wealth management offering.
• Online Investing Self-directed online investing channel enabling members to manage their own investment portfolios through ACU's wealth management platform.
• New to Canada Banking Program Specialized banking program for newcomers to Canada providing chequing accounts (no Canadian credit history required, no monthly fees for one year), car loans up to $30,000, newcomer mortgages with 5% minimum down payment, credit cards, and a free safety deposit box for one year.
• Asset Building Programs (Savings Circle & IDA) Partnership programs with SEED Winnipeg and United Way offering matched savings accounts. Savings Circle provides 3:1 matching for up to $250 saved over six months. Individual Development Account (IDA) provides 2:1 matching for education, disability support, or business startup savings.
• Islamic Mortgage Faith-based mortgage solution developed in partnership with the Manitoba Islamic Association, respecting Islamic faith practices and expanding homeownership access to Muslim community members.
• ACU Digital Banking Platform Online banking platform enabling members to access accounts, transfer funds, pay bills, manage cards, and conduct transactions via web browser with 256-bit TLS encryption and two-factor authentication.
• ACU Mobile App Mobile banking application supporting account access, mobile deposit capture (Remote Deposit Service), Interac e-Transfer, card management (lock/unblock debit card), branch/ATM locator, and digital wallet integration with Apple Pay and Google Pay.
• Mobile Mortgage Specialists On-location mortgage advisory service where specialists meet members at their home, workplace, or preferred location to discuss mortgage needs.
• Student Bursary Programs Financial support programs including Indigenous Student Bursary Award (four $2,000 bursaries annually for Indigenous business students in Manitoba), Legacy Bursary Award (three $2,000 bursaries honoring Westoba, Caisse, and Entegra merger partners), and ACU High School Bursary Award (33 awards of $500 annually).

Quantifiable outcome

• $10,000 donation to Zoongizi Ode for affordable housing support
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Partnerships

23 partnerships are on record, tiered core and minor.

• SEED WinnipegcoreStrategic or Co-development PartnerLong-standing partnership for Savings Circle and Individual Development Account (IDA) programs providing matched savings accounts for low-income individuals. Also partners on Recognition Counts program for foreign-trained professionals.
• United Way of WinnipegcoreStrategic or Co-development PartnerJoint partnership in Asset Building Programs with SEED Winnipeg providing matched savings for low-income Manitobans.
• Manitoba StartminorStrategic or Co-development PartnerPartnership to provide a four-week paid Canadian banking system training program for newcomers, with potential permanent employment at banks.
• Manitoba Islamic AssociationcoreStrategic or Co-development PartnerCreated Islamic Mortgage option that respects Muslim faith practices, expanding access to homeownership for the Muslim community.
• Tec Voc High SchoolminorStrategic or Co-development PartnerStudents operate Stingers Credit Union, a branch of ACU, providing business and financial literacy opportunities for youth.
• Manitoba Real Estate AssociationcoreStrategic or Co-development PartnerPartner in homeownership opportunities for Indigenous families through joint investment program.
• Assembly of Manitoba ChiefscoreStrategic or Co-development PartnerPartner in homeownership opportunities for Indigenous families through joint investment program.
• Province of ManitobacoreStrategic or Co-development PartnerJoint partner in Indigenous homeownership investment program.
• Co-operative Housing Federation of Canada (CHF)coreStrategic or Co-development PartnerStrategic grants for Building Condition Reports partnership supporting non-profit housing organizations.
• Manitoba Non-Profit Housing AssociationcoreStrategic or Co-development PartnerBuilding Condition Reports partnership supporting non-profit housing organizations.
• Collabria Financial Services Inc.coreTechnology or IntegrationIssues ACU Collabria Visa credit cards pursuant to Visa license.
• MX Technologies Inc.coreTechnology or IntegrationProvides digital money management tools (DMM Services) including account aggregation, budgeting, spending tracking, and insights through Electronic Services.
• The LinkminorChannel Partner/ Reseller/ DistributorSavings Circle partner serving youth aged 18-29. Also community referral partner.
• Villa RosaminorChannel Partner/ Reseller/ DistributorSavings Circle partner serving Villa Rosa residents.
• Ma Mawi Wi Chi Itata CentreminorChannel Partner/ Reseller/ DistributorSavings Circle partner serving Indigenous peoples. Also community referral partner.
• Manitoba PossibleminorChannel Partner/ Reseller/ DistributorSavings Circle partner serving people living with a disability.
• Urban Circle Training CentreminorChannel Partner/ Reseller/ DistributorSavings Circle partner serving Urban Circle students.
• Nor'West Co-op Community Health CentreminorChannel Partner/ Reseller/ DistributorSavings Circle partner.
• Pluri-EllesminorChannel Partner/ Reseller/ DistributorSavings Circle partner serving Francophone community.
• Healthy Muslim FamiliesminorChannel Partner/ Reseller/ DistributorSavings Circle partner.
• IRCOMminorChannel Partner/ Reseller/ DistributorSavings Circle and IDA partner serving newcomers. Also community referral partner.
• Immigration and Refugee Community Organization of ManitobaminorChannel Partner/ Reseller/ DistributorIDA partner serving newcomers. Community referral partner.
• Deposit Guarantee Corporation of ManitobacoreOthersRegulatory body providing 100% guarantee of deposits at credit unions in Manitoba.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Steinbach Credit Union: Another major Manitoba-based credit union serving personal and business banking customers across the province. Directly comparable in product mix, geography, and cooperative model, making it the closest peer to ACU.
• Conexus Credit Union: Saskatchewan-based credit union with a similar full-service retail and business banking model. Comparable in scale, prairie-Canadian geographic focus, and community-oriented values-based positioning.
• Vancity: British Columbia's largest credit union and a long-standing values-based, socially responsible cooperative. Highly comparable mission, B Corp-style ethos, and full-service retail/business banking offering, though larger and more geographically concentrated in BC.
• Meridian Credit Union: One of Canada's largest credit unions, based in Ontario, offering a similar full personal/business banking and wealth management suite. Comparable in scope and pricing competitiveness versus chartered banks.
• First West Credit Union: Western Canadian credit union operating under a community-focused credit union model across BC. Comparable in member-owned governance, retail/business banking, and branch-led distribution.
• Affinity Credit Union: Saskatchewan-based credit union with a comparable full-service retail, business, and agricultural banking offering. Similar mid-size prairie credit union profile and product breadth.

Broad incumbents

• Desjardins Group: Largest cooperative financial group in Canada, headquartered in Quebec. Overlaps broadly with ACU in cooperative retail/business banking and wealth management but operates at materially larger scale and across multiple provinces.
• TD Canada Trust: One of Canada's largest chartered banks with extensive retail banking, wealth, and digital offerings. Competes with ACU for personal and small business deposits, mortgages, and credit cards across Manitoba.
• Tangerine: Canadian direct bank owned by Scotiabank, offering digital-first chequing, savings, and credit products. Represents the digital-native competitive threat to ACU's deposit and lending book, especially among younger members.

Emerging players

• Wealthsimple: Canadian digital wealth management and investing platform. Overlaps with ACU's wealth management, registered plans, and mutual fund offerings on the investment side, and competes for younger, self-directed Canadian investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/MyAssiniboine
• YouTubeyoutube.com/assiniboinecreditu
• Facebookfacebook.com/MyAssiniboine
• LinkedInlinkedin.com/company/assiniboine-credit-union
• Instagraminstagram.com/MyAssiniboine

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A2 records

Investments

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

Frequently asked questions about Assiniboine Credit Union