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  • General FAQ's

The credit union is owned by its Members. Every Member, through their Membership Shareholdings, owns five shares of the organization, has the ability to attend and participate in the Annual General Meeting and voting rights on major decisions placed before the Membership.
There are many differences between banks and credit unions, but the main difference is its ownership. Credit Unions are owned by its members – not major shareholders. This makes credit unions committed to serving their members’ financial needs rather than focusing on satisfying its shareholders.
There is no fee to join a credit union. To become a member of Member Savings you are required to hold $25.00 in Membership Shares. This entitles you to use all the services of the credit union, and have full rights as an owner/shareholder. It is your money though, and should you ever decide to leave the credit union these Membership Shares are refunded to you.
Yes. The Deposit Insurance Corporation of Ontario (DICO) insures Canadian currency deposits, including interest, to a maximum of $100,000 per Member. Deposits held in RSP, RIF, LIRA, LIF, RESP, and TFSA are fully insured with no maximum amount.
Our office hours are 8:30am – 4:00pm Monday – Friday. Our tellers are open from 10:00am – 3:00pm Monday – Friday. Please check the News Section for holiday hours.
To open an account online click our JOIN link. This takes about 5 minutes to complete online. One of our Member Service Representatives will then contact you to continue the account opening process. You can also call our main line toll-free and we can arrange to send you any required documentation through email, Canada Post or fax. If you would prefer to come visit us in person, just remember to bring your ID along with you. Opening an account in person can take around 15-20 minutes to complete. If you are looking to open a joint account please call us or drop in, we cannot open joint accounts through our online application.
The transit number is 04292 and the institution number is 828.
You can come down to our main branch or arrange pick up at one of Interchange Financial's four locations in the GTA. We offer the best rate guarantee on any currency you need. Make sure to call ahead to book your order. Call our office toll free at 1-888-560-2218 for more information on rates, booking and pick up locations.