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Financial Solutions for Newcomers to Canada

As a newcomer to Canada, we recognize the excitement and challenges of navigating the financial landscape. That's why we've customized our products and services to address your unique needs. Whether you're planning to move or have recently arrived, we're here to support you. Let's start your financial journey together, one friendly conversation at a time!

Enjoy These Offers From Synergy Credit Union

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Free Chequing Account

Enjoy the convenience of the SmartPack chequing account without worrying about monthly fees for the first year.
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New to Canada Credit Card

Get started with our New to Canada Collabria credit card! Enjoy credit limits from $1,000 to $10,000 and activate your card to receive a $50 statement credit*.
*Terms and conditions apply.
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Fee-Free* Global Money Transfers

With OFX, sending money worldwide is effortless and fee-free*. Rest assured your funds will reach your loved ones swiftly and securely.
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Free Safety Deposit Box Rental

Safeguard your cherished memories and valuables with a safety deposit box— free for the first year. Enjoy peace of mind and save over $40 with this exclusive offer!
Why Choose Synergy Credit Union?
  • Community-Centric: We’re not just a credit union; we’re a community. Join us, and you’ll be part of a supportive network that cares about your financial well-being.

  • Digital Convenience: Seamlessly manage your finances through our online banking platform, mobile app, and Member Contact Centre.

  • AccuLink® ATM Network: Access your funds across Canada without worrying about ATM fees.

Questions & Answers for Newcomers to Canada

Starting fresh in a new country can be overwhelming, especially when it comes to financial matters. Below you'll find clear answers to common questions about setting up a bank account, understanding credit unions, managing money, and more. Let us guide you through the essentials and help you get started with confidence.

  • You must be a permanent resident, international student, or temporary resident for 5 years or less.
  • You must have never held a Synergy Credit Union chequing account.
  • You must be the age of majority in your province or territory of residence.
  • You can schedule a meeting with a financial expert through our online booking calendars.
  • You can also reach us directly by:
    • Calling our Member Contact Centre at 1-866-825-3301
    • Fill out a Contact Us Form
    • Live Chat using the chat bubble on our website

 

You will need to bring two pieces of personal identification (such as your current/valid driver’s license, provincial health card, birth certificate).

In Canada, many bank accounts and products come with fees. For instance, some ATMs have charges, some credit cards carry an annual fee, while certain chequing accounts charge monthly fees. These fees are typical for Canadian financial institutions, but they may be waived if specific conditions are met. As a newcomer to Canada, we offer you a chequing account and a savings account with no monthly fees for one year, along with a no-fee credit card*.

*Terms and conditions apply.


Learn more about our account related fees

Your credit score is a three-digit number ranging from 300 to 900 that indicates your financial health. Lenders use this score to evaluate your creditworthiness and determine the level of risk involved in lending to you. Simply, your credit score reveals how reliably you've managed debt and met financial obligations in the past.

Establishing credit as a newcomer in Canada can be challenging because your credit history doesn’t transfer with you. To build credit from scratch, consider opening a bank account, getting a cell phone (which some providers report to credit bureaus), and applying for your first credit card. Managing expenses responsibly and using credit-building tools will also contribute to your credit journey."12

Remember to pay bills on time, limit credit usage, and avoid multiple credit applications to improve your credit score as you settle into your new financial life in Canada.

Learn more about your credit score and how you can boost your credit.

Our credit cards are designed with a wide range of benefits to help individuals and families have a smoother transition to life in a new country, supporting them along the way. Learn more about our Synergy Credit Union Collabria credit cards.

Whether you’re at your computer or using our mobile app, our digital banking services empower you with unparalleled control, convenience, and customization. Here’s what you can expect:

  1. Dynamic Dashboard: Effortlessly manage your financial life. Pay bills, transfer funds securely, and keep track of transactions—all in one place.

  2. Innovative Tools:

    • Money Manager: Take control of your money. Set budgets, track spending, and achieve your financial goals.
    • Debit Card Management: Customize your card settings for added security.

Ready to get started? Visit our digital banking page for more information and interactive demos.

Ready to embark on your Canadian financial journey?
Open your account today and experience the synergy of possibilities!
Still have questions or
need support?
Connect with us—we're happy to help!
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