Alterna Savings and the Credit Union Difference
By Alterna Team
November 22, 2021

Why belong to Alterna Savings?

Ever had one of those dreams where you're trying to get somewhere but stay stuck in one place? Banking at a traditional financial institution can feel just like that. Big plans and innovative ideas tend to count for little if you don't fit the mould of a traditional borrower, even if you have a responsible track record. That's because banks are in the business of making a profit for their shareholders. Alterna Savings is different because while we offer the financial services and products you'd expect from a financial institution, we offer them for a different reason - you. Here, you're a member, not 'just' a customer.

As a member, you're also an owner. That means we're accountable to you and work hard every day to bring you the products and services you need. It also means that profits don’t benefit shareholders, instead they go right back into serving you and our communities better.

If you or someone you know is thinking about switching to Alterna Savings, here are more benefits of membership:

Your voice counts
As a member and owner, you can participate in voting for our Board of Directors and, if qualified, you can even run for a position yourself!

An "open door" policy
You'll receive a warm welcome when you come in to discuss financial matters, open a new account, or apply for a loan or credit card. You can even talk directly to our CEO if you need to. Try doing that in a traditional bank!

An account for everyone
Some of the earliest credit unions in Canada were established as an alternative to banks, which often made it difficult for average citizens to borrow or invest. Alterna Savings continues that tradition with special accounts for children, students, and seniors; multi-purpose business accounts; daily interest savings accounts; pay-as-you-go accounts; U.S. dollar accounts; and more. In addition, our award-winning Community Microfinance Program provides much needed capital to small business owners and entrepreneurs.

The ”Good in Banking”

Alterna is guided by our commitment to support the well-being of our members, employees and communities. We promote community economic development through micro-lending and micro-savings initiatives, encourage our members to be financially knowledgeable, give back through many charitable activities and continually strive to be transparent at every level of our operation.

Superior customer service

At Alterna Savings, you're not just an account number—you're a member, a neighbour, a friend. Employees of Alterna Savings are members too, and we are committed to getting to know you and finding smarter ways to make your money work for you while offering caring, transparent advice.

Comprehensive products and services

There is a common misconception that credit unions don't offer the same products and services as banks. At Alterna Savings, we offer it all: mortgages, TFSAs, RRSPs, mutual funds, and access to an industry-leading online brokerage and investment management service with Alterna Wealth. We also have a dedicated team of Commercial Service and Community Business Banking professionals to help you reach your business goals.

24/7 convenience

Alterna Savings’ online banking service and mobile app makes it easy to manage your money from home or on the go. Members also have access to over 43,000 surcharge-free ATMs in North America with THE EXCHANGE Network in Canada and the Allpoint Network in the US.

Discover all the reasons to join.