Alterna Savings

Avg. Rating: 5.0 (2 reviews)

Alterna Savings Credit Union is the second-largest credit union in Ontario. The credit union serves over 183,000 members with more than 36 branches across Ontario. Alterna Savings Credit Union also operates an online bank, Alterna Bank.

The credit union provides personal as well as business banking services. Its personal banking services include chequing accounts, savings accounts, credit cards, mortgages, personal loans, lines of credits, and term deposits using different registered or non-registered accounts. Alterna Savings offers chequing accounts, savings accounts, and financing solutions for businesses as well.

One must be a resident of Ontario and at least 18 years old to open an account with Alterna Savings.

  • TIME IN BUSINESS: Since 1908
  • # OF CUSTOMERS: Over 183,000


319 McRae Avenue, 2nd Floor Ottawa, ON K1Z 0B9
Call Center: M to F: 8:00 am to 6:00 pm
Sat: 9:30 am to 4 pm
Sun: 9:30 am to 4 pm
Support Offered:
  • Call Centre
  • Local Branches
  • Social Media
  • Contact Form Online
Availability: Ontario

Products Offered

Below are all the products offered by this company.

Everyday Banking

Whether you have a little money or a lot, Alterna can always help you find a smarter way to make your money work for you.

  • Chequing account
  • Savings accounts
  • Wire transfers
  • Foreign currency services and more


Credit Solutions & Mortgages

Alterna offers options when it comes to loans, lines of credit, and credit cards to help you with home renovations, a well-deserved vacation, etc.

  • Personal loan
  • Line of credit
  • Credit cards and more

Mortgages: Alterna is committed to finding you a mortgage solution that will meet your specific financial needs.


Investments & Issuance


Alterna Investment Specialists will help create a savings plan that’s perfect for you.

  • Term deposits
  • RRSPs and RRIFs
  • TFSA
  • Special shares and more


Protect yourself and your family from unforeseen life events with insurance from one of Alterna Savings trusted partners.

  • Credit card insurance
  • Creditor insurance
  • Buyer protection
  • Travel insurance and more


Regardless of the size of your business or organization, Alterna can always help you find smarter financial ways to achieve your goals.

  • Chequing
  • Savings
  • US Dollar accounts and more


Financing Solutions

From banking packages to credit products and mortgages, Alterna has your business needs covered.

  • Mortgages
  • Loans
  • Credit cards

Investing & Wealth Management

Alterna’s sole focus is on helping create wealth and preserve wealth so your business or organization can reach its full potential.

  • Business investment savings account
  • Cash management
  • Term deposits
  • Retirement planning
  • Education funding
  • Mutual funds and more


Frequently Asked Questions About Alterna Savings

What is Alterna Savings?

Alterna Savings Credit Union is the second-largest credit union in Ontario. The credit union serves over 183,000 members with more than 36 branches across Ontario. Alterna Savings Credit Union also operates an online bank, Alterna Bank.

Is Alterna Savings safe?

Alterna Savings and Credit Union Limited (Alterna) started in 1908 and has been providing services for over 110 years. Alterna has since grown from to be the second-largest credit union in Ontario, and one of the Top 10 in Canada, with over $8 billion in assets under management and more than 183,000 members and a network of 36 branches across Ontario.

What does Alterna Savings offer?

Alterna Savings is a credit union that offers a full range of financial products and services, all with a commitment to support the well-being of their members, employees and communities.

Has Alterna Savings won any awards?

Alterna is the recipient of prestigious employer awards, including the National Capital Region’s Top Employers and Aon’s Best Employers (Platinum level) awards. They've also been endorsed by the Globe & Mail as the best bank for millennials and acclaimed by Ratehub for offering Canada’s Best Personal Chequing, TFSA, and RRSP Savings accounts.

What's a fun fact about Alterna Savings?

Alterna is a leader in the cannabis industry. It was the first financial institution to provide services to cannabis producers in Canada.

What is Alterna Bank?

Alterna Savings was the first credit union to introduce a digital bank and the first to offer a fully digital end-to-end mortgage through its wholly-owned subsidiary, Alterna Bank.

What's one thing testament to Alterna Savings growth?

Alterna's impressive growth throughout the years stems not only from merging with other credit unions but also from significantly gaining new retail, business, and not-for-profit members as people recognize Alterna’s philosophy of putting members first.

What are some of the benefits to banking with Alterna Savings?

At Alterna Savings, they offer all the same products and services you’d expect from your financial institution; some additional additives are that their interest rates are often some of the best in the market, they are owned by members, their profits are reinvested in their members and community, they provide exceptional and personalized service and more.

Does Alterna Savings have credit card insurance?

Alterna Savings Collabria Visa Credit Cards can give you more than convenient purchasing power and great benefits like points rewards. Collabria Visa Credit Cards also provide the added benefit of insurance.

Alterna Savings Reviews

Avg. Rating: 5.0 (2 reviews)
Commercial Mortgage

I have a mortgage for my business with them. Took a bit of time to get approved initially but has been great ever since.

Good online

Online banking is easy to use and very intuitive.


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