Interior Savings Insurance Services

What Interior Savings Insurance Services does

Interior Savings Insurance Services operates as the insurance distribution arm of Beem Credit Union, a cooperative financial institution formed through the 2025 unification of multiple BC credit unions including Interior Savings Credit Union, Gulf & Fraser, North Peace Savings, BlueShore Financial, and Compensation Employees Credit Union. The entity distributes general insurance through Intact Insurance, life and health insurance, and CUMIS loan insurance as a member-benefit channel within Beem's broader financial services platform, serving over 200,000 members across British Columbia through 66+ branches and a digital/mobile banking platform.

The underlying technology stack includes a core banking system migrated to a new platform in 2025, a Beem-branded mobile banking application on iOS and Android, and digital onboarding enabled through a partnership with VeriPark announced in November 2025. Online banking is delivered with 128-bit SSL encryption and session management. Insurance products are not underwritten internally; rather, Interior Savings Insurance Services functions as a referral and distribution channel routing members to partner carriers, which keeps the unit asset-light and dependent on partner underwriting capacity.

Revenue mechanics are commission- and fee-based, layered on top of Beem's broader interest income, deposit gathering, and wealth management streams. Membership dividends (a 4% payout of $375,000 was reported in 2025) signal the cooperative profit-sharing model rather than equity returns. Pricing for insurance products is not publicly disclosed; service fees are itemized in downloadable brochures. The unit serves retail and small-business members across BC, with cross-sell into youth (Purple Cap Awards, YES Youth Leadership Camp), homebuyer, and wealth segments — though standalone revenue and headcount for the insurance line specifically are not disclosed in available materials.

Name

Interior Savings Insurance Services

Legal name

Beem Credit Union

Website

https://interiorsavingsinsurance.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

11–50 employees

Short description

Interior Savings Insurance Services distributes general, life, health, and loan insurance products as the insurance arm of Beem Credit Union, serving over 200,000 members across British Columbia through 66+ branches and partner carriers including Intact Insurance and CUMIS.

Ownership category

akta.pro rank

Product category

Cooperative Banking and Insurance Services

NAICS

Credit Unions (522130), Insurance Agencies and Brokerages (524210)

akta.pro primary industry

Public Sector & Municipal Credit Unions (FSABAEAK)

Keywords

• Personal banking services
• General insurance products
• Wealth management services
• Commercial lending
• Cooperative financial services

Headquarters

HQ city

Kelowna

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Traditional credit union revenue from interest rate spreads on loans (mortgages, personal loans, business loans) and other credit products. The credit union grew loans by 64% from $7.2B to $11.7B in 2025.
2. Deposits: Deposit-taking from members including savings accounts, spending accounts, term deposits, and registered accounts (TFSA, RRSP). Deposits grew 63% from $7.5B to $12.3B.
3. Wealth Management: Wealth management and investment services through Qtrade and BlueShore Financial division. Wealth management assets grew 117% from $1.8B to $4B.
4. Service Fees: Various service charges including account maintenance, transaction fees, and specialized service fees as outlined in the Personal and Business Account Service Charge Brochures.
5. Insurance Services: General insurance services and life & health insurance through partner providers including CUMIS and Intact Insurance.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Interior Savings Insurance Services, as part of Beem Credit Union, distributes general insurance (through Intact Insurance), life and health insurance, and CUMIS loan insurance products to individual members across British Columbia. Insurance is offered alongside the credit union's core personal banking, business banking, wealth management, and digital banking services, accessed through 66+ branches, online banking, and a mobile app serving 200,000+ members.

Product overview

Beem Credit Union offers a comprehensive suite of financial products and services through its multi-brand platform. The core offerings include personal banking (savings, spending, term deposits, foreign currency), business banking, wealth management through Qtrade partnerships and BlueShore Financial division, and insurance services via Intact Insurance, life/health insurance, and CUMIS. Digital banking is delivered through a new core banking and digital experience platform launched in 2025. Community investment programs including the Beem Foundation, Purple Cap Awards bursaries ($2,500-$25,000), and financial literacy initiatives round out the offering. The credit union serves members across British Columbia through 66+ branches with approximately $18 billion in assets under administration.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Banking Core banking services for individual members including savings accounts, spending accounts, term deposits, and foreign currency deposits across 66+ BC branches and digital channels.
• Business Banking Business account services, commercial lending, and financial solutions for business members, accessed through branch relationship managers and digital channels.
• Wealth Management Investment and wealth planning services, including Qtrade Guided Portfolio, Qtrade Direct Investing, and advisory services through the BlueShore Financial division.
• Insurance Services Insurance products distributed through partner providers, including general insurance (Intact Insurance), life and health insurance, and CUMIS loan insurance for BC members.
• Digital Banking Online and mobile banking platform with secure access (128-bit SSL encryption), account management, transfers, bill payments, and card controls via iOS/Android apps.

Quantifiable outcome

• 200,000 members served across BC with $18 billion in assets
• +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

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Payments CanadacoreTechnology or Integration · 3 June 2026Beem became a member of Payments Canada, gaining representation in Canada's national payment systems and infrastructure. This positions Beem to help shape the future of payments including the new Real-Time Rail system.
• Pathwise Credit UnioncoreStrategic or Co-development Partner · 9 December 2025Beem's Chief Partner Experience Officer Ian Thomas serves as Interim CEO at Pathwise Credit Union through a leadership secondment. This partnership reflects the co-operative principle of 'cooperation among co-operatives' and enables knowledge sharing between the organizations.
• VeriParkcoreTechnology or Integration · 13 November 2025Digital onboarding partnership accelerating Beem's system-wide digital transformation. VeriPark provides the technology platform enabling new customers to open accounts digitally.
• Cascadia Credit UnioncoreStrategic or Co-development Partner · 23 October 2025Beem now offers wealth management services to Cascadia Credit Union members, extending wealth services beyond Beem's own membership base.
• Collabria (Credit Card)coreChannel Partner/ Reseller/ Distributor24/7 credit card support partner for Collabria credit cards. Members can access support at 1-855-341-4643 or 647-252-9564.
• Qtrade (Guided Portfolio & Direct Investing)coreChannel Partner/ Reseller/ DistributorWealth management partner providing guided portfolio and direct investing services. Qtrade Guided Portfolio: 1-844-622-4500; Qtrade Direct Investing: 1-877-787-2330.
• Intact InsurancecoreChannel Partner/ Reseller/ DistributorGeneral insurance provider partner. Contact: 1-866-464-2424 for inquiries, separate claims line available at intact.ca.
• CUMIS (Loan Insurance)coreChannel Partner/ Reseller/ DistributorLife and health insurance partner for loan-related insurance products. Contact: 1-800-263-9120.
• YES Youth Leadership CampminorGTM or Marketing PartnerPartnership with Interior Savings Insurance to send BC youth aged 14-18 to Vancouver Island's YES Youth Leadership Camp at Lake Cowichan for weeklong leadership retreats.
• Prince George Community FoundationminorGTM or Marketing PartnerPartnership through the Spruce Legacy Fund providing community grants to Northern BC organizations including Child Development Centre PG & District, Junior Achievement of BC, Theatre North West Society, and others.
• Vancouver FoundationminorGTM or Marketing PartnerPartnership through the Beem Credit Union Endowment Fund providing community grants to organizations including Fort St. John Women's Resource Society, Friends of Hudson's Hope Society, and Fort Nelson Aboriginal Friendship Society.

Scale indicators16 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Vancity: Vancity is British Columbia's largest credit union, serving members across the province with personal banking, wealth, and insurance services. Operates as a direct comparator to Beem Credit Union in the same BC market with a similar cooperative model.
• Alterna Savings and Credit Union: Alterna is a Canadian credit union serving Ontario and eastern Canada with personal and business banking, wealth, and insurance. Comparable cooperative model and member-owned structure, though operating in a different regional market.
• BlueShore Financial: BlueShore Financial is now a division of Beem Credit Union following the 2025 merger, providing wealth management and financial advisory services. Previously an independent BC credit union, it remains a relevant peer for the wealth segment.
• Coast Capital Savings: Coast Capital Savings is a BC credit union with a comparable member-owned model, branch network, and full-service banking plus wealth and insurance offerings. Direct competitive overlap in the Lower Mainland and Vancouver Island.
• First West Credit Union: First West Credit Union is a BC-based cooperative serving Western Canada with personal and business banking, wealth, and insurance through Valley First and Envision Financial. Directly comparable in scale, cooperative structure, and breadth of member services.
• Meridian Credit Union: Meridian is one of Canada's largest credit unions, with full-service banking, wealth, and insurance offerings. Direct comparator in scale and product breadth, though based in Ontario.

Broad incumbents

• Desjardins Group: Desjardins is the largest cooperative financial group in Canada, offering banking, wealth, and insurance. It is a broad incumbent that overlaps with Beem's cooperative model and full-service offering, operating at much larger national scale.
• Canadian Western Bank: Canadian Western Bank is a publicly traded Canadian chartered bank targeting business and personal banking across Western Canada. Comparable branch footprint and Western Canadian focus, though structured as a bank rather than a credit union.

Others

• Intact Insurance: Intact Financial is the largest provider of property and casualty insurance in Canada, and is a key partner for Interior Savings Insurance Services' general insurance distribution. Comparable as an insurance provider within the same ecosystem, not a direct competitor.
• Qtrade Direct Investing: Qtrade is a Canadian online brokerage partner providing guided portfolio and direct investing services to Beem members. A relevant ecosystem peer for the wealth management arm, not a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@BeemCreditUnion
• Facebookfacebook.com/beemcreditunion
• LinkedInlinkedin.com/company/interior-savings-insurance-services
• Instagraminstagram.com/beemcreditunion/?hl=en

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 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 Interior Savings Insurance Services