PersonalBusinessagricultural
Accounts & CardsBorrowingInvestingInsuranceToolsAbout Us
View DemoLearn More



Welcome to the Synergy Solutions Centre!

Just click on the one of the questions below and you'll get a simple answer. If the question you have doesn't appear on this list, feel free to ask us and we'll be happy to help you in any way we can.

You can "search" through the questions and answers by entering keyword(s) into our search box. Or you can categorize the questions listed by a category name, such as borrowing or wealth services, by selecting one of the categories from the drop-down menu from our main page. You can also comment on each of these questions by providing a comment on our answer, where we could provide additional answers.





About Us

How does purchasing the name "Credit Union Centre" benefit me, or any other member? I paid for the building of the centre with my tax money, now I'm paying again with service charges. I thought "Credit Union" was about "by the people and for the people." Have the Credit Unions lost their focus?

This is a very good question and one we are glad to clarify. You are right, we purchased the rights to name the building, we did not buy the Credit Union Centre. We bought the naming rights of the Credit Union Centre for a 10 year period. Like any other advertising or sponsorship decision, the m...   more...

Why is your board involved in approving loans?

Good question, our board of directors is NOT involved with loan applications, approvals or anything involving member loans or deposits for that matter. Synergy Credit Union s board is responsible to set the strategic direction and define the type and level of service expected for members. They empo...   more...

Who finances Synergy Credit Union?

Synergy Credit Union, like other financial institutions, is an intermediary generating income based on the difference in the rates charged for loans and the interest paid out on funds on deposit. As such Synergy Credit Union is not financed by anyone. We are owned by our members. Our members ...   more...

How does Synergy contribute to our local communities?

Synergy Credit Union contributes to your local community in four different ways: 1. Volunteerism. A large number of our staff volunteers many hours at various functions, events and organizations within your local community. For example, via staff fundraisers, Synergy raised over $21,...   more...

How many employees do you have?

Currently Synergy Credit Union have close to 300 employees serving our members in the 13 communities from which we re proud to call home. We have a proud history of continued support and a commitment to the growth of our members and the communities we serve. As our motto says, Together, we will. ...   more...

What does a new migrant like us need to do in order for us to achieve our financial goals here in Canada? We came to work and to give our kids a better future, but we also need the help of financial institutions with this.

We couldn't agree more with your statement. Most financial institutions have policies and procedures that guide them through immigration service issues. It is best if the new immigrant visits their financial institution of choice to work through their questions and concerns. And staff are enco...   more...

What is Synergy CU doing to ensure young adults continue banking with Synergy for all their major financial milestones thoughout their life?

Synergy Credit Union makes every effort to ensure all our members can bank with us no matter where they may call home. Today, that could be anywhere in the world. We have designed our products and services to team with technology and are proud to say, We re just a call or click away . No matter...   more...

Credit Unions seem to have weathered the recent (and current) financial storm. What can this be attributed to? Is it the conservative nature of credit unions, prudent lending practices, the comparatively small exposure to foreign markets, or a combination of the previous three? Or is it something else?

You have summed it up very well. From Synergy Credit Union s perspective, we do employ prudent lending practices and our market exposure is basically directed to local and regional business and individuals. That in itself has helped to isolate our credit union from the direct impacts of the US base...   more...

How old is your credit union?

Our name says it best. The Synergy in Synergy Credit Union means cooperative interaction among groups, especially among the acquired subsidiaries or merged parts of a corporation, that creates an enhanced combined effect. The Synergy Credit Union name was chosen by the membership in 2006 to r...   more...

Why won't banks help when you need it the most?

Every financial institution has values, objectives and policies that drive their business. Policies are usually shaped from past experiences and industry best practices, while values and objectives will influence the level of risk a financial institution is willing to take on. Financial institut...   more...