Comparing Peace Hills Trust, ATB Financial, credit unions, KOHO, and big bank Indigenous programs for First Nations, Métis, and Inuit people
Choosing the right bank as an Indigenous Canadian depends on where you live, whether you are on-reserve or off-reserve, what tax exemptions matter to you, and what financial products you need. This guide reviews the best banking options for Indigenous Canadians in 2025 — from Canada's only First Nations-owned bank to no-fee digital accounts accessible anywhere.
| Institution | Best For | Monthly Fee | Indigenous Focus |
|---|---|---|---|
| Peace Hills Trust | On-reserve Status Indians (AB) | Varies | Highest — First Nations owned |
| ATB Financial | Indigenous Albertans | $0–$25 | High — dedicated programs |
| Local Credit Unions | Near-reserve communities | $0–$10 | Varies by location |
| KOHO | Anywhere in Canada, no-fee | $0 | Accessible, no barriers |
| TD Bank | Urban off-reserve | $0–$30 | Moderate — Indigenous advisors |
| RBC | Urban off-reserve | $4–$30 | Moderate — community programs |
Founded in 1980 by the Samson Cree Nation, Peace Hills Trust is Canada's only First Nations-owned trust company. It operates branches on reserves in Alberta and serves clients across Canada. For Status Indians living on-reserve in Alberta, Peace Hills Trust offers the strongest Section 87 tax exemption claim for bank interest — since accounts held at on-reserve branches have maximum connecting factors to the reserve.
Services include personal and business chequing and savings accounts, term deposits, mortgages, personal loans, and trust services. Peace Hills Trust also offers specialized expertise in on-reserve mortgage financing and band council lending.
ATB Financial is Alberta's provincially-owned financial institution. ATB has dedicated Indigenous banking specialists, community development programs, and a long track record of serving First Nations, Métis, and Inuit Albertans. ATB is active in providing financial literacy programs to Indigenous communities and works with band councils on community banking solutions.
ATB offers no-fee and low-fee chequing accounts, savings, mortgages, business banking, and wealth management. For Indigenous Albertans who prefer a full-service institution with genuine community commitment, ATB is an excellent choice.
Credit unions located near reserves across Canada often have the strongest relationships with local First Nations communities. They may have Indigenous liaison staff, visit communities with mobile banking services, and offer more flexible lending criteria than the major banks. Credit unions are member-owned and their profits stay in the community.
Notable examples include Concentra Bank (federally regulated credit union services), Northern Credit Union in Ontario, and various BC credit unions with Indigenous community programs. Ask your band council which credit union has the best relationship with your community.
KOHO is a Canadian fintech offering a no-fee spending account with a Mastercard prepaid card, built-in budgeting tools, and optional credit-building features. For Indigenous Canadians anywhere in Canada — on-reserve, off-reserve, urban, or remote — KOHO provides accessible, affordable banking with no minimum balance and no monthly fees on the base plan.
KOHO is particularly valuable for Indigenous Canadians in remote communities without nearby bank branches, those building credit for the first time, and anyone looking to eliminate bank fees. Open an account entirely through the app in minutes.
KOHO is a great option for Indigenous Canadians: no monthly fees, no minimum balance, and built-in spending tracking. Use code 45ET55JSYA for a sign-up bonus.
Open KOHO Free — Code 45ET55JSYACanada's big five banks all have Indigenous banking programs of varying depth. TD's Indigenous Banking services and RBC's Indigenous community programs are among the more developed. For Indigenous Canadians living off-reserve in cities, the big banks offer the most comprehensive range of financial products — mortgages, investments, business banking, and insurance.
When dealing with a big bank, ask specifically for their Indigenous banking specialist if one is available in your area. These advisors understand Section 87 implications and Indigenous-specific financial needs better than general banking staff.
The best bank for you as an Indigenous Canadian depends on your specific situation — your community, your location, and your financial goals. Use Peace Hills Trust or a local credit union for on-reserve banking with Section 87 benefits, and add a no-fee digital account like KOHO for everyday convenience and accessible banking anywhere in Canada.