Omista Credit Union

What Omista Credit Union does

Omista Credit Union is a member-owned cooperative financial institution founded in 1938, headquartered at 1192 Mountain Road in Moncton, New Brunswick, Canada. It operates 4 physical branches serving Moncton, Fredericton, and Oromocto, with reciprocal access to 160+ Atlantic Credit Union branches across Atlantic Canada and 3,000+ surcharge-free ATMs nationwide via The Exchange Network. The institution employs 101-250 staff, with 40% of employees having more than 10 years of tenure.

Its product platform covers the full retail and commercial banking stack: personal chequing accounts (CU Unlimited, CU Plus, CU Standard, CU Pay As You Go, CU Youth), savings accounts (eSavings, Investment Savings, GICs), personal and commercial mortgages, personal loans, Green Choice eco-loans for energy-efficient home and vehicle upgrades, lines of credit, equipment loans, and operating loans. Investment products include TFSAs, RRSPs/RRIFs, RESPs, term deposits, mutual funds, and Qtrade Direct Investing brokerage. Credit cards are issued through Collabria across a full Mastercard and Visa suite for personal and business segments. Insurance is delivered through CUMIS and Co-operators partnerships covering home, auto, life, travel, and credit protection.

Revenue is generated primarily through interest income from lending (mortgages, personal loans, commercial loans, lines of credit), account and transaction fees (tiered monthly fees from $3.95 to $69.95 plus pay-as-you-go transactions), credit card interchange via Collabria, and affiliate/referral commissions on Qtrade investments and CUMIS/Co-operators insurance products. Member deposits are insured up to $250,000 per category by the New Brunswick Credit Union Deposit Insurance Corporation. OMISTA has maintained B Corporation certification for 9 years, holds 20 consecutive years of best-in-Canada customer service recognition, and pursues a community-led go-to-market combining branch-based relationship banking with self-serve mobile and online channels.

Name

Omista Credit Union

Legal name

OMISTA Credit Union

Website

https://www.omista.com

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

101–250 employees

Short description

Omista Credit Union is a financial services company located in Moncton.

Ownership category

akta.pro rank

Product category

Credit Union Banking

NAICS

Credit Unions (52213)

akta.pro primary industry

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

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Credit union banking
• Personal lending
• Commercial lending
• Mortgage financing
• Investment services

Headquarters

HQ city

Moncton

HQ country

Canada

HQ region

North America

Offices4 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. Interest Income from Lending: Primary revenue source from interest charged on personal and commercial loans, mortgages, lines of credit, and credit card balances
2. Account and Transaction Fees: Monthly account maintenance fees, transaction fees exceeding plan limits, and various service charges for business accounts and personal banking
3. Credit Card Interchange: Revenue from credit card transactions processed through Collabria partnership, including interchange fees on purchases
4. Investment Product Commissions: Commissions and referral fees from mutual fund sales, GIC/term deposit sales, and Qtrade Direct Investing account referrals
5. Insurance Product Referrals: Referral fees from insurance products including home, auto, life, and travel insurance offered through CUMIS/Co-operators partnership

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels6 records

Core offering

OMISTA Credit Union is a member-owned cooperative financial institution providing full-service retail and commercial banking across New Brunswick. Its core offering spans personal and business chequing and savings accounts, mortgages, personal/commercial loans, lines of credit, term deposits, GICs, TFSAs, RRSPs, RESPs, mutual funds, Qtrade online brokerage, credit cards via Collabria, and insurance through CUMIS/Co-operators. Distribution combines four physical branches with mobile and online banking, and access to 3,000+ surcharge-free ATMs across Canada.

Product overview

Omista Credit Union is a member-owned financial institution offering a comprehensive, integrated suite of banking, lending, investment, and insurance products through both proprietary services and partner platforms. The core banking platform includes personal and business chequing accounts (CU Unlimited, CU Plus, CU Standard, CU Pay As You Go, and youth accounts for those under 25) and savings accounts (eSavings, Investment Savings, and GICs). Lending products span personal loans, Green Choice eco-loans for vehicles and homes, mortgages, commercial mortgages, equipment loans, operating loans, and lines of credit. Investment offerings include TFSAs, RRSPs/RRIFs, RESPs, term deposits, mutual funds, and Qtrade Direct Investing online brokerage. Credit cards are delivered through the Collabria partnership (Classic, Centra Gold, Cashback, World, World Elite, US Dollar, and Travel Rewards MasterCards for personal; Visa Infinite Business, Low Rate Visa, and No Fee Cash Back Visa for business). Insurance products—home, auto, life, travel, and credit protection—are underwritten by CUMIS and Co-operators. Digital banking features include mobile app, online banking with multi-factor authentication, Deposit Anywhere check capture, Lock'N'Block card security, and mobile wallet support (Apple Pay, Samsung Pay, Google Pay). OMISTA also operates community programs including Each One Teach One financial literacy, student bursaries, and OMISTA On Purpose events.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Chequing Accounts A suite of personal chequing account variants including CU Unlimited ($19/month, unlimited transactions), CU Plus (45 transactions/month), CU Standard ($10/month, 20 transactions), CU Pay As You Go ($1/transaction), CU Youth under 25 (free, unlimited), and CU Standard 59+ (free for seniors). Each includes Interac e-Transfer, bill payment, and debit card access.
• Personal Savings Accounts Personal savings options including eSavings (1.00% interest, no minimum balance), Investment Savings (variable rate based on annual performance, paid 2.5% in 2023), and Under 25 Savings (0.25% interest for youth).
• Guaranteed Investment Certificates (GICs) Term deposits with guaranteed principal and interest, $100 minimum deposit, simple or compounding rate options, flexible terms and automatic renewal, fully insured under New Brunswick Credit Union Deposit Insurance Corporation.
• Business Chequing Accounts Tiered business chequing accounts including Your Business Basic ($7.95/month, under 10 transactions), Your Business ($19.95/month, 10-30 transactions), Your Business Plus ($34.95/month, 30-60 transactions), and Your Business Unlimited ($69.95/month, unlimited). Includes unlimited MemberDirect online banking and e-statements.
• Business Savings Accounts Seven-tiered interest-bearing business savings accounts that maximize returns as balance grows, with interest calculated daily and paid monthly.
• Community Organization Banking Our Community Chequing ($3.95/month, unlimited daily transactions, fee waived at $5,000 minimum balance) and Our Community Savings (seven-tiered interest-bearing) accounts designed for non-profits and community organizations.
• Personal Loans Fixed-payment personal loans for purchases or debt consolidation, up to $50,000 with flexible weekly, bi-weekly, or monthly payment options and no early repayment penalties.
• Green Choice Loans Eco-friendly lending products including Green Choice Home Loan (Prime + 1%, $3,500-$50,000 over 1-5 years for energy-efficient upgrades such as insulation, solar, geothermal, heat pumps, and ENERGY STAR windows/doors) and Green Choice Vehicle Loan (Prime + 0.5% new / + 1% used, terms up to 7 years, for vehicles with CO2 rating 165g/km or lower including electric bikes and scooters).
• Residential Mortgages Residential mortgage products including fixed and variable rate options for home purchases with personalized support and local market expertise.
• Commercial Mortgages Business real estate financing for commercial property purchases and developments with personalized support and fast approvals.
• Equipment Loans Business financing for equipment purchases to support operational growth and expansion.
• Operating Loans Flexible business credit lines for day-to-day operational expenses and cash flow management.
• Lines of Credit Revolving credit facilities providing flexible access to funds for personal and business financial needs.
• TFSAs (Tax-Free Savings Accounts) Tax-Free Savings Accounts allowing tax-free growth and withdrawals for personal savings goals.
• RRSPs and RRIFs Registered Retirement Savings Plans and Registered Retirement Income Funds for retirement savings with tax advantages.
• RESPs (Registered Education Savings Plans) Registered Education Savings Plans for saving toward children's post-secondary education with government grant matching eligibility.
• Mutual Funds Professionally managed investment pools offering diversification across stocks, bonds, and other securities for both personal and business investors.
• Business Term Deposits Secure business savings products with guaranteed returns and flexible terms, insured by the Credit Union Deposit Guarantee Corporation.
• Qtrade Direct Investing Self-directed online brokerage platform for buying and selling stocks, bonds, ETFs, and mutual funds with low trading fees, offered through Qtrade partnership.
• Financial Planning Services Personalized financial advisory services from experts to help members achieve financial goals through comprehensive planning.
• Personal Credit Cards Personal MasterCard suite distributed through the Collabria partnership, including Classic, Centra Gold, Cashback, World, Cash Back World Elite, US Dollar, and Travel Rewards Gold variants. Each offers tiered rewards, cash back, or travel benefits with Mastercard's zero liability protection.
• Business Credit Cards Business credit cards distributed through the Collabria partnership, including Visa Infinite Business (premium purchasing controls and travel benefits), Low Rate Visa (reduced interest rates), and No Fee Cash Back Visa (no annual fee cash back rewards).
• Merchant Services Payment processing solutions for businesses including point-of-sale terminals, e-commerce tools, mobile payments, and loyalty/gift card programs.
• Home & Auto Insurance Property and vehicle insurance products underwritten by CUMIS, covering theft, damage, personal liability, and legal costs.
• Life Insurance Life insurance products including Critical Assist, Whole Life, Infinity Term, Universal Life, and Versatile Term, underwritten by Co-operators.
• Travel Insurance Travel coverage through CUMIS Travel Insurance Program offering $10 million in emergency medical coverage, trip cancellation, and lost baggage protection, with claims administered by Allianz Global Assistance.
• Credit Protection Insurance Loan, line of credit, and mortgage protection insurance covering life, disability, and loss of employment scenarios.
• Business Loan Protection Insurance Small business loan insurance protecting business owners and partners from financial loss due to death or critical illness.

Quantifiable outcome

• Best in Customer Service Excellence for 20 consecutive years in Canada
• +3 more outcomes

Named customers2 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

Integration11 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Collabria Credit CardscoreChannel Partner/ Reseller/ DistributorCollabria provides credit card issuance and processing services for OMISTA members. OMISTA offers a full suite of Collabria credit cards including Classic, Centra Gold, Cashback, World, World Elite, US Dollar, and Travel Rewards Gold MasterCards through this partnership.
• Qtrade Direct InvestingcoreChannel Partner/ Reseller/ DistributorQtrade Direct Investing, a division of Credential Qtrade Securities Inc., provides online brokerage services enabling OMISTA members to buy and sell stocks, bonds, ETFs, and mutual funds. Qtrade is marketed as Canada's #1 online trading platform.
• CUMIS / Co-operatorscoreChannel Partner/ Reseller/ DistributorCUMIS General Insurance Company provides insurance products for OMISTA including home, auto, life, travel, and credit protection insurance. Administered by Allianz Global Assistance for travel insurance. OMISTA offers these products through referral and partnership arrangements.
• Do Some GoodminorGTM or Marketing PartnerDo Some Good is a social impact platform where OMISTA showcases community initiatives, volunteer engagement, donations, and scholarship opportunities. OMISTA uses the platform for bursary applications and community impact tracking.
• New Brunswick Military Family Resource Centre (NBMFRC)minorStrategic or Co-development PartnerNBMFRC is a community partner receiving banking services and community support from OMISTA. The partnership supports military families in the Oromocto area connected to 5th Canadian Division Support Base Gagetown.
• Each One Teach One Financial Literacy ProgramcoreStrategic or Co-development PartnerOMISTA participates in the Atlantic Credit Unions Each One, Teach One Financial Literacy Program delivering free workshops on budgeting, credit building, and home readiness. Program includes online self-directed modules and in-person sessions through community partnerships.
• Credit Union Deposit Guarantee CorporationcoreOthersNew Brunswick Credit Union Deposit Insurance Corporation provides deposit insurance protection for OMISTA members up to $250,000 per category, exceeding typical CDIC limits at banks.
• The Exchange NetworkcoreTechnology or IntegrationNational ATM network providing OMISTA members access to 3,000+ surcharge-free ATMs across Canada for cash withdrawals and deposits.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• East Coast Credit Union: Atlantic Canada's largest credit union, formed from the merger of multiple Nova Scotia and New Brunswick credit unions. Most directly comparable to Omista in geography, full-service offering, and member-owned cooperative model.

Regional players

• UNI Coopération financière: Quebec-based credit union cooperative offering full personal and business banking, lending, and wealth services. Comparable to Omista through its cooperative member-owned model and comprehensive product breadth, though operating in a distinct provincial market.
• Meridian Credit Union: Ontario-based credit union offering full personal and business banking, mortgages, and investment services. Comparable to Omista in full-service credit union model and product breadth, though larger in scale and serving a different provincial market.
• Vancity Credit Union: British Columbia's largest credit union, known for community focus and ESG leadership. Comparable to Omista in member-owned cooperative structure and community-oriented positioning, though significantly larger and BC-focused.
• Servus Credit Union: Alberta-based credit union offering comprehensive personal, business, and agricultural banking services. Comparable to Omista through its full-service community credit union model, though operating in a different western Canadian market.
• Conexus Credit Union: Saskatchewan-based credit union providing full personal and business banking, lending, and investment services. Comparable to Omista in credit union structure and product breadth, though larger and serving a different prairie market.
• BlueShore Financial: British Columbia-based credit union with a strong community and ESG orientation. Comparable to Omista through its member-owned model and values-driven positioning, though serving the BC market and emphasizing wealth management.

Broad incumbents

• Desjardins Group: Canada's largest credit union cooperative, headquartered in Quebec, offering comprehensive personal, business, and institutional financial services nationwide. Comparable to Omista in cooperative model and product breadth but vastly larger and operating as a broad incumbent across all of Canada.
• Tangerine: Canadian direct bank and Scotiabank subsidiary offering no-fee chequing, savings, and investment products nationally. Comparable to Omista as a competing retail banking option for value-conscious Canadian consumers, though operating on a digital-only model rather than cooperative branch-based.
• Simplii Financial: Canadian direct bank and CIBC subsidiary offering no-fee banking, savings, and investment products nationally. Comparable to Omista as a competing retail banking channel for cost-conscious Canadians, though operating digitally without a branch or cooperative model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/OmistaCU
• YouTubeyoutube.com/@omistacreditunion3991
• Facebookfacebook.com/OMISTACU
• LinkedInlinkedin.com/company/omista-credit-union
• Instagraminstagram.com/omistacreditunion

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 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 Omista Credit Union