Northern Credit Union

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This Page's Content Was Last Updated: July 21, 2026

Important Information

WOWA.ca provides independent reviews using publicly available data and is not affiliated with Northern Credit Union.

Shopping for financial products in Ontario? This 2026 Northern Credit Union overview evaluates its latest rates and account features against major Canadian banks and regional credit unions. Select a topic below to inspect specific rates and data:

Compare Northern Credit Union Mortgage Rates — 1- to 5-year fixed and variable terms.
Inspect GIC & Savings Rates — Non-registered, TFSA, and RRSP yields backed by FSRA (DIRF).
Financial Overview & Asset Rank — Key performance data for Northern Credit Union (ranked #24 in Canada with $2.6 billion in assets).
Branch Network & Accounts — Account options and local branch access.

Credit Union

Northern

Northern Credit Union is a credit union located in Ontario. It was founded in 1957. It primarily serves Northern and Northeastern Ontario.

Northern Credit Union has served residents and businesses across Northern Ontario since 1957, when it was founded in Sault Ste. Marie as Sault Civic Employees Credit Union. Over time, it evolved from an employee based credit union into a community focused cooperative financial institution, growing through mergers with other Northern Ontario credit unions.

In 2025, Northern merged with Copperfin Credit Union under the Northern Credit Union name. It now serves communities across Northern Ontario, from the Manitoba border to the Quebec border, with personal and business banking, lending, mortgages, investments, and financial advice.

As a member owned institution, Northern focuses on local service, regional decision-making, and keeping member dollars connected to the communities, businesses, and families it serves.

Provinces served

Ontario

Number of Members (as of 2025): ~88,000

Northern Mortgage Rates

The mortgage rates on this page were last updated on September 21, 2026 at 6:15 PM ET.

Lender	Term	Insured down payment < 20%	Insurable home < $1M & amortization ≤ 25yr	Posted non-discounted rate
Northern Credit Union	1-Year Fixed	—	—	5.39%
Northern Credit Union	2-Year Fixed	—	—	5.49%
Northern Credit Union	3-Year Fixed	4.29%	4.49%	5.69%
Northern Credit Union	4-Year Fixed	—	—	5.79%
Northern Credit Union	5-Year Fixed	4.39%	4.59%	5.89%
^* Rates are for informational purposes only and reflect the lowest rates available. Rates may change at any time and may be applicable only to certain borrowers. Terms and conditions apply.

Understanding Northern Credit Union Mortgage Features

Prepayment Privileges: Most credit unions in Ontario allow members to make annual lump-sum prepayments (10%–20%) and payment increases without penalty.
Early Termination Penalties: Breaking a fixed-rate mortgage early incurs an Interest Rate Differential (IRD) or 3 months' interest penalty. Variable mortgages typically carry a 3-month interest fee.
Local Approval: Mortgages are underwritten locally, providing flexible solutions for self-employed buyers and unique property types.

Estimate your payments using WOWA's Mortgage Payment Calculator.

Northern GIC Rates

The GIC rates on this page were last updated on September 21, 2026 at 5:44 PM ET.

Term	Non-Registered Rate
1-Month	1.70%
3-Month	2.00%
6-Month	2.30%
9-Month	2.30%
1-Year	2.90%
1.5-Year	3.30%
2-Year	3.35%
3-Year	3.50%
4-Year	3.75%
5-Year	4.00%
^* Rates are for informational purposes only and reflect the highest rates available. Rates may change at any time and may be applicable only to certain depositors. Terms and conditions apply.