Coastal Financial Credit Union

What Coastal Financial Credit Union does

Coastal Financial Credit Union Limited is a member-owned cooperative credit union headquartered in Yarmouth, Nova Scotia, serving approximately 6,000+ members across five branches in Southwest Nova Scotia (Yarmouth, Tusket, Wedgeport, West Pubnico, and Barrington). Founded over 90 years ago, the institution operates as a provincially-regulated credit union under Nova Scotia mortgage lender license #3000026 with deposits insured by CUDIC up to $250,000 per member — the highest provincial coverage. It offers a full-service retail and small-business banking platform spanning tiered personal and business chequing accounts, savings and term deposits (GICs), registered plans (TFSA, RRSP, RRIF, RESP), residential and commercial mortgages, personal and commercial loans and lines of credit, and partner-distributed credit cards (Collabria MasterCard/Visa), wealth management (Aviso Wealth via CU Financial Management and Qtrade brokerage), and insurance (CUMIS, Allianz travel, creditor protection).

The technology backbone is the MemberDirect® online banking platform and a native iOS/Android mobile app, both fronted by 128-bit SSL, multi-factor authentication, Lock 'N' Block card controls, SMS fraud alerts, International Country Blocking with Travel Exclusion Service, ClickSWITCH account switching, Interac e-Transfer/Flash, Apple/Google/Samsung Pay tokenization, Debit MasterCard, Deposit Anywhere mobile cheque deposit, and Exchange Network ATM access (3,000+ terminals). The credit union is one of twelve Atlantic-region co-owners of CU Financial Management Ltd., which delivers wealth advisory to members at no incremental fee. Its most differentiated offering is exclusive participation in the Province of Nova Scotia's 2% Down First-Time Homebuyers Pilot Program (capped at 650 guarantees).

Revenue is generated through a mix of recurring monthly account fees on tiered personal ($0–$24/mo) and business ($14–$52/mo) chequing packages, per-transaction fees on ancillary services, net interest income from personal/commercial/mortgage lending and lines of credit, spread on GICs, referral commissions and interchange on Collabria credit cards, referral commissions on CUMIS/Allianz insurance, advisory and mutual fund referral revenue via Aviso Wealth/CU Financial Management, and transaction fees from CUPAY merchant services. The go-to-market motion is direct-to-consumer and direct-to-SMB in Southwest Nova Scotia, supplemented by community sponsorships (75+ local organizations and events annually), earned media (CBC, Global News), and a self-serve digital application portal at apply.coastalfinancial.ca.

Name

Coastal Financial Credit Union

Legal name

Coastal Financial Credit Union Limited

Website

https://coastalfinancial.ca

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

11–50 employees

Short description

Coastal Financial Credit Union is a member-owned cooperative credit union serving 6,000+ members across five branches in Southwest Nova Scotia with full-service personal and small-business banking, lending, mortgages, investments, insurance, and credit cards.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Credit Unions (52213), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

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

Keywords

• Retail banking services
• Credit union lending
• Community banking
• Deposit accounts
• Commercial lending

Headquarters

HQ city

Yarmouth

HQ country

Canada

HQ region

North America

Offices6 records

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. Personal chequing account fees: Recurring monthly fees on packaged chequing accounts (e.g., YOUR Chequing Unlimited $24, YOUR Electronic Chequing $12, YOUR Chequing 15 $5), with senior and youth/student variants offered at discounted or no monthly fee.
2. Business chequing account fees: Recurring monthly fees on tiered business packages (YOUR Business Chequing 15 at $14, 30 at $25, 50 at $35, 75 at $52), plus a Basic Business Chequing and a fee-free US Business Chequing.
3. Per-transaction banking fees: Usage-based fees for pay-as-you-go accounts, additional transactions beyond plan limits, non-credit-union ATM withdrawals, wire transfers, certified cheques, money orders, foreign exchange, and safety deposit boxes.
4. Personal lending interest: Interest income on personal loans (fixed and variable rate, up to $25,000), home renovation loans ($5,000–$35,000), auto loans, recreation vehicle loans, RRSP loans, and overdraft protection.
5. Lines of credit interest: Interest charged on drawn balances for personal lines of credit, student lines of credit, and home equity lines of credit (up to 80% of home value).
6. Mortgage interest: Interest income on conventional, construction, and collateral mortgages, plus participation in the Province of Nova Scotia's 2% Down First-time Homebuyers Pilot Program.
7. Commercial lending interest: Interest income on commercial mortgages, equipment loans, operating loans, and boat/license loans for small businesses.
8. Business line of credit interest: Interest charged on drawn balances for business lines of credit, with revolving borrowing and repayment.
9. Term deposit (GIC) investment spread: Spread earned on guaranteed investment certificates (non-redeemable, redeemable, and CF Wealth Maximizer) held by members for personal and business use, registered (TFSA/RRSP/RRIF) and non-registered.
10. Credit card interchange and referral: Personal and business credit cards (Mastercard and Visa variants) issued through Collabria Financial Services Inc., with Coastal Financial earning referral revenue and interchange.
11. Wealth management referral / advisory fees: Investment products (mutual funds through Aviso Wealth, life insurance planning, financial planning, and brokerage through Qtrade Direct Investing) offered via CU Financial Management; advisory services included with membership while product-level fees (MERs, transfer fees, etc.) apply.
12. Insurance referral commissions: Referral-based commissions on home, auto, and travel insurance distributed through CUMIS/Co-operators and Allianz Global Assistance, plus credit protection insurance on loans, lines of credit, and mortgages.
13. Merchant services / payment acceptance fees: CUPAY Merchant Services offering debit and credit payment acceptance for business members, generating transaction-based revenue.
14. Banking service fees: Per-transaction fees for ancillary services including wire transfers, certified cheques, money orders, foreign currency cash and drafts, night deposits, and safety deposit box rentals.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels9 records

Core offering

Coastal Financial Credit Union is a member-owned cooperative financial institution serving Southwest Nova Scotia through five retail branches and digital channels. It offers a full suite of personal and business banking products including chequing and savings accounts, mortgages, personal and commercial loans, lines of credit, term deposits, registered investments (TFSA, RRSP, RESP), mutual funds, online brokerage, and partner-distributed insurance and credit cards.

Product overview

Coastal Financial Credit Union operates a single, member-owned financial co-operative offering a unified retail and small-business banking platform — not a multi-product SaaS suite — composed of a core MemberDirect® online banking portal and a native Coastal Financial Mobile App (iOS/Android) that front-ends a portfolio of personal and business deposit, lending, investment, insurance, and credit-card products. On the personal side, the lineup consists of the YOUR Chequing family (Basic, 15, 40, Unlimited, Electronic, Senior, Youth/Student, and USD), savings products (Coastal TrueSave, YOUR Savings, Youth/Student Savings), mortgages (Conventional, Construction, Collateral) including the Nova Scotia 2% Down First-Time Homebuyers Pilot, personal loans (Home Renovation, Demand/Term, Auto, RV, RRSP, Overdraft Protection), personal lines of credit (standard, Student, Home Equity), Collabria-issued personal MasterCards, and registered/non-registered investments (TFSA, RRSP/RRIF, RESP, Mutual Funds via Aviso Wealth, Term Deposits/GICs, Qtrade Direct Investing online brokerage, Financial Planning via CU Financial Management) plus creditor, life, home & auto, and travel insurance. On the business side, the platform mirrors that structure with YOUR Business Chequing tiers (15/30/50/75, Basic, Business, US), CUPAY™ Merchant Services, commercial loans & mortgages (including Boat & License Loans), business lines of credit, business Collabria Visa cards, business loan protection, business Term Deposits, and business Mutual Funds via Aviso Wealth/CU Financial Management. Cross-cutting platform modules include the Lock 'N' Block card self-service feature, ClickSWITCH® account switching, Interac e-Transfer/Flash, Apple/Google/Samsung Pay mobile wallet, The Exchange Network ATM access, Deposit Anywhere™ mobile cheque deposit, and 24/7 fraud monitoring with multi-factor authentication.

Differentiator

Problem solved

Functional benefit

Products and services

• YOUR Chequing (Personal Chequing Accounts) Tiered personal chequing account lineup including YOUR Basic Chequing (pay-as-you-go), YOUR Chequing 15 ($5), YOUR Chequing 40, YOUR Chequing Unlimited ($24), YOUR Electronic Chequing ($12), plus Senior (59+), Youth/Student variants, and a USD chequing account for cross-border members.
• Coastal TrueSave
• YOUR Savings
• Personal Mortgages
• Personal Loans
• Personal Lines of Credit
• Personal Collabria MasterCards Seven-card personal MasterCard portfolio issued by Collabria Financial Services Inc.: Classic, Cash Back, Centra Gold, World, Cash Back World Elite, US Dollar, and Travel Rewards Gold MasterCard.
• Credit Protection Insurance
• Travel Insurance
• Home & Auto Insurance
• Life Insurance
• Tax-Free Savings Account (TFSA)
• Registered Retirement Savings Plan (RRSP)
• Registered Education Savings Plan (RESP)
• Term Deposits (GICs)
• Mutual Funds
• Online Brokerage (Qtrade Direct Investing)
• Financial Planning
• Business Chequing Accounts (YOUR Business Chequing)
• CUPAY Merchant Services

Quantifiable outcome

• 6,000+ members across Southwest Nova Scotia
• +4 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

AI capability2 records

Feature9 records

Partnerships

15 partnerships are on record, tiered core, minor and moderate.

• Collabria Financial Services Inc.coreOEM/ Whitelabel/ Licensing PartnerIssues personal and business Mastercard and Visa credit cards under license from Mastercard International and Visa Inc.; Coastal Financial Credit Union members access these cards via branded pages on collabriacreditcards.ca, including Classic, Cash Back, Centra Gold, World, World Elite Cash Back, US Dollar, Travel Rewards Gold, Visa Infinite Business, Low Rate Visa, and No Fee Cash Back Visa variants. Card management, rewards, and 24/7 support are provided through Collabria.
• Aviso Wealth (a division of Aviso Financial Inc.)coreTechnology or IntegrationProvides mutual fund and other securities products distributed through Coastal Financial; underpins the CU Financial Management advisory offering for Coastal Financial members. Funds are not CDIC insured.
• CU Financial Management Ltd.coreStrategic or Co-development PartnerJoint wealth management arm co-owned by Atlantic Edge, Brunswick, Community, Consolidated, Credit Union Atlantic, East Coast, Mosaik, Provincial, Public Service, Souris, Reddy Kilowatt, and Valley Credit Unions; delivers financial planning, mutual fund advisory, life insurance planning, and Qtrade brokerage support to Coastal Financial members at no extra cost with the membership.
• Qtrade Direct Investing (a division of Aviso Financial Inc.)coreTechnology or IntegrationOnline self-directed brokerage platform integrated for Coastal Financial CU members, marketed as "Canada's #1 online trading platform"; supports trading of stocks, ETFs, mutual funds, and bonds with research and planning tools.
• CUMIS General Insurance Company (a member of The Co-operators group)coreChannel Partner/ Reseller/ DistributorDistributes home, auto, and credit protection insurance to Coastal Financial members under the CUMIS brand; provides 24/7 claims service, quote tools, and claim submission via cumis.cooperators.ca. CUMIS also administers travel insurance through Allianz Global Assistance.
• Allianz Global Assistance (AZGA Service Canada Inc. / AZGA Insurance Agency Canada Ltd.)minorChannel Partner/ Reseller/ DistributorUnderwriter and administrator of the Allianz Travel Insurance Program offered through Coastal Financial; covers up to $10 million in out-of-province emergency medical, trip cancellation/interruption/delay, and provides 24/7 multilingual emergency travel assistance.
• Co-operators Life Insurance Company (via CUMIS Services Incorporated)minorChannel Partner/ Reseller/ DistributorUnderwrites optional creditor's group insurance (life, critical illness, disability) for Coastal Financial personal loans; enrolment, medical underwriting, and claims administration handled by CUMIS Services Incorporated.
• Nova Scotia Credit Union Deposit Insurance Corporation (CUDIC)coreOthersProvincial deposit insurer covering eligible deposits up to $250,000 per member — described by Coastal Financial as the highest protection in the province; foundational to the credit union's regulatory status in Nova Scotia.
• ClickSWITCHmoderateTechnology or IntegrationIntegrated service that enables members to automatically redirect direct deposits and pre-authorized payments from another financial institution to their Coastal Financial account; accessible via online banking and the mobile app.
• Government of Nova Scotia (First-time Homebuyers Pilot Program)coreStrategic or Co-development PartnerProvincially-backed mortgage pilot program that Coastal Financial Credit Union helps eligible first-time Nova Scotia homebuyers access, reducing the minimum down payment from 5% to 2% with a provincial deficiency guarantee; pilot capped at maximum 650 guarantees and exclusive to participating Nova Scotia credit unions.
• Interac Association (Interac e-Transfer, Interac Flash, Debit)coreTechnology or IntegrationProvides Interac e-Transfer, Interac Flash contactless debit, and Debit Mastercard capabilities to Coastal Financial members via online and mobile banking.
• Apple Pay, Google Pay, and Samsung PaymoderateTechnology or IntegrationMobile wallet tokenization services that allow Coastal Financial members to add their debit and credit cards to Apple, Google, or Samsung Pay for contactless in-store and in-app payments.
• Mastercard International IncorporatedmoderateOEM/ Whitelabel/ Licensing PartnerLicenses the Mastercard brand used on Coastal Financial personal payment cards (Classic, Cash Back, Centra Gold, World, World Elite Cash Back, US Dollar, Travel Rewards Gold); the Debit Mastercard product also leverages this brand for international online and in-store purchases.
• Visa Inc.moderateOEM/ Whitelabel/ Licensing PartnerLicenses the Visa brand used on Coastal Financial business credit cards (Visa Infinite Business, Low Rate Visa, No Fee Cash Back Visa), issued by Collabria Financial Services Inc. pursuant to a license from Visa.
• Ombudsman for Banking Services and Investments (OBSI)minorOthersIndependent external dispute resolution service available to Coastal Financial members who have exhausted the credit union's internal complaints process; formal complaints must be filed within 180 days of the credit union's final decision.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Vancity: British Columbia-headquartered values-based credit union with full retail, business, and wealth services. Comparable cooperative ownership and community reinvestment positioning, with a substantially larger scale and broader digital platform than Coastal Financial.
• First West Credit Union: Western Canada's third-largest credit union, serving members across British Columbia through multiple community brands. Comparable in member-owned retail/community banking, with a larger and more diversified footprint.
• Meridian Credit Union: One of Canada's largest credit unions, headquartered in Ontario, offering full-service retail, business, and wealth banking. Comparable member-owned, community-rooted model with a much larger asset base and broader geographic footprint.
• Desjardins Group: Canada's largest cooperative financial group, operating a full retail and business banking, wealth, and insurance platform primarily in Quebec with national reach. Comparable in cooperative ownership ethos and breadth of product suite, but materially larger and more diversified than Coastal Financial.

Direct peers

• Alterna Savings: Ontario-based community credit union offering personal, business, and wealth services. Comparable full-service community banking model, member ownership, and reliance on partner wealth and brokerage platforms, with similar mid-size scale.
• East Coast Credit Union: Nova Scotia-headquartered community credit union serving members through a multi-branch network in Atlantic Canada. It is the most direct regional comparable to Coastal Financial, with overlapping personal and business banking, member-ownership model, and reliance on the same CUDIC-style deposit insurance framework.
• Steinbach Credit Union: Manitoba community credit union offering full retail, agricultural, and business banking. Comparable member-owned community banking model and mid-size asset base, with a stronger agricultural lending focus.
• Valley Credit Union: Long-standing Atlantic Canada credit union and co-owner of CU Financial Management Ltd. alongside Coastal Financial. Directly comparable in product mix (chequing, savings, mortgages, loans) and member-owned community banking model.
• Brunswick Credit Union: New Brunswick community credit union and fellow CU Financial Management shareholder. Comparable in scale, product suite, and Atlantic Canada community-banking model, with shared wealth-management and brokerage distribution through CUFM, Aviso Wealth, and Qtrade.
• Provincial Credit Union: Nova Scotia community credit union referenced as a co-owner of CU Financial Management. Closely comparable in branch-based community banking, member ownership, and reliance on the same partner ecosystem (Collabria, Aviso, CUMIS).

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/coastalfinancialns
• LinkedInlinkedin.com/company/coastal-financial-credit-union-ltd
• Instagraminstagram.com/coastalfinancial
• Xx.com/Coastalcu

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Coastal Financial Credit Union