Steinbach Credit Union
This Page's Content Was Last Updated: July 21, 2026
Important Information
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Managing $11.1 billion in total assets, Steinbach Credit Union stands as the #9 largest credit union in Canada. Our independent review breaks down Steinbach Credit Union’s consumer offerings, deposit safety under the Deposit Guarantee Corporation of Manitoba (DGCM), and competitive rates for Manitoba depositors and home buyers.
Jump to Section: Institution Overview•Mortgage Rates•GIC Rates•Financial Performance
Credit Union
Steinbach
Steinbach Credit Union is a credit union located in Manitoba. It was founded in 1941. It primarily serves Winnipeg and Steinbach and Southern Manitoba.
Steinbach Credit Union (SCU) is one of Manitoba's largest credit unions and among the largest in Canada, founded in 1941 in Steinbach, Manitoba. Unlike many of its peers, SCU has grown primarily through organic growth rather than mergers, expanding from its southeastern Manitoba base into Winnipeg while keeping a service model built around member relationships and financial advice. SCU serves personal, business, and agricultural members with banking, lending, investment, and wealth management services, with particular strength supporting farms and local businesses. Member deposits are fully guaranteed, with no dollar limit, by the Deposit Guarantee Corporation of Manitoba (DGCM).
Provinces served
Number of Members (as of 2025): ~115,000
Steinbach 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 |
|---|---|---|---|
| Steinbach Credit Union | 1-Year Fixed | 4.09% | 4.19% |
| Steinbach Credit Union | 2-Year Fixed | 4.09% | 4.19% |
| Steinbach Credit Union | 3-Year Fixed | 4.09% | 4.19% |
| Steinbach Credit Union | 4-Year Fixed | 4.09% | 4.19% |
| Steinbach Credit Union | 5-Year Fixed | 4.19% | 4.29% |
* 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. | |||
Looking for fine-print details? Read our comprehensive Steinbach Credit Union Mortgage Rates, Prepayment Privileges & Penalty Review to learn about annual lump-sum rules, payment increases, and early payout calculations.
Steinbach GIC Rates
The GIC rates on this page were last updated on September 21, 2026 at 5:44 PM ET.
| Term | Non-Registered Rate | Registered Rate |
|---|---|---|
| 1-Year | 3.65% | 3.65% |
| 2-Year | 3.80% | 3.80% |
| 3-Year | 4.00% | 4.00% |
| 4-Year | 4.00% | 4.00% |
| 5-Year | 4.20% | 4.20% |
* 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. | ||
Steinbach Credit Union Ranking Among Credit Unions Monitored by WOWA
9th
by Assets
of 134 credit unions
9th
by Loans
of 133 credit unions
9th
by Deposits
of 133 credit unions
Steinbach Credit Union ranks 9th among Canadian credit unions by assets monitored by WOWA, 9th by loans, and 9th by deposits, as of December 31, 2025. You can view the complete list of Canadian credit unions here.
Steinbach Credit Union Branch Locations
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: Classic Pack Chequing
- Standard Fee
- $17.00/mo
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- This account allows Unlimited free transactions.
- 10 free Interac e-Transfers are included each month.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Steinbach Credit Union Classic Pack Chequing is designed for members who make frequent transactions, with unlimited monthly debits covering debit purchases, cheques, bill payments, preauthorized debits, and Canadian credit union ATM transactions. For a $17 monthly fee, it also includes 10 Interac e-Transfers per month, unlimited personalized cheques, and a $5 annual safety deposit box discount.
Deposit Insurance
Deposits are insured by the Deposit Guarantee Corporation of Manitoba (DGCM).
Chequing Account
2. Account: Standard Pack Chequing
- Standard Fee
- Free
- Free Transactions
- 0
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- This account allows 0 free transactions.
- 1 free debit transaction is included each month for every $500 in the account balance. Cheque: $0.75 Debit Transaction: $0.75 Transfer: $0.75 Withdrawal: $0.75 Pre-Authorized Debit: $0.75 Point-of-Sale Transaction: $0.75 Interac e-Transfer: $1.00 Withdrawal at SCU: $0.55 Withdrawal at a Canadian Credit Union: $0.55
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Steinbach Credit Union Standard Pack Chequing is a no-monthly-fee chequing account with pay-as-you-go transaction pricing. It includes 1 free debit per month for every $500 in minimum monthly balance. Additional debits, transfers, and withdrawals are charged individually, making the account primarily suited to members with lower transaction needs.
Deposit Insurance
Deposits are insured by the Deposit Guarantee Corporation of Manitoba (DGCM).
Chequing Account
3. Account: StudentFLEX™ Daily Account
- Standard Fee
- Free*
- Free Transactions
- 35
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- This account allows 35 free transactions.
- E-Transfers are excluded from the transaction limit and is unlimited.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- *This account is available for youth and students only.
- Steinbach Credit Union StudentFLEX Daily Account is a no-monthly-fee chequing account for post-secondary students. It includes 35 debits or withdrawals per month and unlimited Interac e-Transfers. The account converts to Standard Pack Chequing after the student finishes school or turns 25, unless proof of enrolment is provided at age 25.
Deposit Insurance
Deposits are insured by the Deposit Guarantee Corporation of Manitoba (DGCM).
Chequing Account
4. Account: Value Pack Chequing
- Standard Fee
- $9.95/mo
- Free Transactions
- 35
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- This account allows 35 free transactions.
- 5 free Interac e-Transfers are included each month.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Steinbach Credit Union Value Pack Chequing is a chequing account with 35 included debits per month, covering cheques, debit purchases, transfers, bill payments, and preauthorized debits. It also includes 5 free Interac e-Transfers per month and unlimited free personalized cheques. The account has a $9.95 monthly fee.
Deposit Insurance
Deposits are insured by the Deposit Guarantee Corporation of Manitoba (DGCM).
Savings Accounts
Savings Account
Account: Daily Growth Savings Account
- Interest Rate
- 1.50%
- Standard Fee
- Free
- Free Transactions
- 1
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- This account allows 1 free transaction.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Steinbach Credit Union Daily Growth Savings Account is a no-monthly-fee savings account with no minimum balance requirement. Interest is calculated daily and paid on the last day of each month. Deposits are free, and the account includes 1 free withdrawal per month, with additional withdrawals charged individually.
Deposit Insurance
Deposits are insured by the Deposit Guarantee Corporation of Manitoba (DGCM).
Savings Account
Account: High Interest Savings Account (HISA)
- Interest Rate
- 2.00%*
- Standard Fee
- Free
- Free Transactions
- 1
- Max e-Transfer / Day
- $10,000
- Insurance Limit
- Unlimited
Account details
- This account allows 1 free transaction.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
*Interest Rate Breakdown by Balance
Balance amount Interest rate $0 to $99,999 2.00% $100,000 to $$249,999 2.10% $250,000 or over 2.25% - Steinbach Credit Union High Interest Savings Account has no minimum balance requirement and offers tiered interest rates starting at balances of $100,000. Interest is calculated on the entire minimum monthly balance and paid annually on December 31. The account includes 1 free withdrawal per month, with additional withdrawals charged individually.
Deposit Insurance
Deposits are insured by the Deposit Guarantee Corporation of Manitoba (DGCM).
Key Financial Metrics and Trends
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $11,081M | +8.1% | +32.8% |
| Loans | $9,623M | +6.8% | +30.7% |
| Deposits | $9,678M | +6.5% | +27.5% |
| Loan-to-Deposit Ratio | 99.4% | — | — |
| Mortgages + HELOCs | $5,540M | +3.7% | +34.2% |
| Securities | $63M | -16.0% | -91.5% |
| Revenue | $196M | +6.5% | +35.2% |
| Efficiency Ratio | 52.5% | — | — |
| Target Members / Region | Winnipeg, Steinbach and Southern Manitoba | — | — |
Steinbach Credit Union Deposits, Loans and Revenue in the Past 5 Years
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Contact
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Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
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- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.