🏛️ Credit Union · Saskatchewan
Conexus Credit Union Review 2026
Saskatchewan's largest credit union — $9B assets, competitive rates, and 100% CUDIC deposit insurance.
About Conexus Credit Union
Conexus Credit Union is Saskatchewan's largest credit union by assets, with over $9 billion in assets and 140,000+ members. It was formed in 2008 through the merger of Credit Union Central Saskatchewan and multiple regional credit unions. Today, Conexus offers the broadest Saskatchewan credit union branch network alongside strong digital banking.
For Saskatchewanians who want the features of a big bank with the values of a co-operative, Conexus is typically the top recommendation. Its digital banking infrastructure rivals that of national banks, while rates and fees remain favourable to members.
Conexus Products & Rates (2026)
| Product | Rate / Fee |
|---|
| Basic Chequing | $0–$8/month |
| Unlimited Chequing | $8–$12/month |
| TFSA Savings | Up to 4.3% |
| RRSP GIC (1-year) | Up to 4.8% |
| 5-Year Fixed Mortgage | ~5.24% |
| Agricultural Loans | Flexible, competitive |
| Business Chequing | $15–$25/month |
Conexus vs Big Banks in Saskatchewan
| Feature | Conexus | TD Saskatchewan | RBC Saskatchewan |
|---|
| Monthly fee (unlimited) | $8–$12 | $29.95 | $16.95 |
| TFSA rate | 4.3% | 0.01% | 0.01% |
| Deposit insurance | 100% unlimited (CUDIC) | $100K/cat (CDIC) | $100K/cat (CDIC) |
| Local decision-making | Yes | No | No |
| Profit returned to members | Yes | No (shareholders) | No (shareholders) |
Saskatchewan CUDIC Deposit Insurance
Deposit Insurance (CUDIC): Credit union deposits are protected by provincial deposit insurance — not CDIC. Saskatchewan CUDIC covers 100% of deposits with no dollar limit. Manitoba DGCM covers 100% unlimited. Ontario FSRA covers 100% unlimited. BC CUCC covers 100% unlimited. Alberta DGCM covers 100% unlimited. This generally exceeds CDIC's $100,000 per-category cap at Schedule I banks.
Pros & Cons
Pros
- Saskatchewan's largest credit union — broadest branch/ATM network
- 100% CUDIC deposit insurance, no dollar limit
- Strong digital banking app (top-rated among SK credit unions)
- Competitive TFSA and mortgage rates
- Proven agricultural and commercial lending
- Member dividends in strong years
Cons
- Saskatchewan-only — no national banking
- Unlimited chequing not free (starts at $8/month)
- Customer service quality varies by branch
Is Conexus the biggest credit union in Saskatchewan?
Yes. Conexus is Saskatchewan's largest credit union with over $9 billion in assets and 140,000+ members, ahead of Affinity and Innovation.
Does Conexus have a free chequing account?
Conexus's basic plan starts at $0 but has transaction limits. For unlimited transactions, expect $8–$12/month — still significantly below TD's $29.95 or Scotiabank's comparable plans.
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