Best Credit Union
Chequing Accounts in Ontario 2026
No-fee chequing at Ontario credit unions, ranked from unconditional free to free-with-requirements. Conditions and monthly fees noted where applicable.
21
no-fee chequing accounts in Ontario
19
conditional no-fee chequing accounts
13
standard fee chequing accounts
Free chequing at Ontario credit unions
Ranked by how unconditionally free the offering is. Unconditional accounts come first, then those that require a minimum balance, monthly usage limits, or both.
Buduchnist Credit Union Limited
Ukrainian Credit Union Limited
Alterna Bank
The Energy Credit Union Limited
Lighthouse Credit Union
Thorold Community Credit Union
Sudbury Credit Union Limited
Parama Credit Union Limited
Frontline Financial Credit Union Limited
Luminus Financial Services & Credit Union Limited
Northern Birch Credit Union Limited
Italian Canadian Savings & Credit Union Limited
Talka Credit Union Limited
Resurrection Credit Union Limited
Korean Catholic Church Credit Union Limited
Taiwanese-Canadian Toronto Credit Union
Moya Financial Credit Union Limited
Equity Credit Union Inc.
The Police Credit Union Limited
Coast Capital Savings
Innovation Federal Credit Union
Meridian Credit Union
Kawartha Credit Union Limited
Northern Credit Union Limited
Firstontario Credit Union Limited
Libro Credit Union
Your Neighbourhood Credit Union
Windsor Family Credit Union Limited
Tandia Financial Credit Union Limited
Kindred Credit Union Limited
Caisse Populaire Alliance Limitée
DUCA Financial Services
Your Credit Union Limited
Penfinancial Credit Union Limited
Comtech Fire Credit Union Limited
Ontario Provincial Police Association Credit Union Limited
Pathwise Credit Union Limited
Fort York Community Credit Union Limited
Kingston Community Credit Union
Alterna Savings
Conditional accounts have specific minimum balance or usage requirements that vary by credit union. Always confirm current terms on the credit union's website before opening an account.
Which credit unions in Ontario offer free chequing accounts?
6 credit unions in Ontario offer no-fee chequing with no minimum balance and no monthly transaction cap:
- Buduchnist Credit Union Limited (members only)
- Ukrainian Credit Union Limited (members only)
- Alterna Bank (open to all Canadians)
- The Energy Credit Union Limited (members only)
- Lighthouse Credit Union (members only)
- Thorold Community Credit Union (members only)
A further 19 Ontario credit unions offer free chequing if you meet a minimum balance, a monthly transaction limit, or both. See the ranking above for details.
Free with no conditions vs. free with conditions
An unconditional no-fee chequing account costs nothing each month regardless of your balance or transaction count. You can keep $0 in the account and use it for hundreds of debit transactions a month and still pay no monthly fee.
A conditional no-fee account is free if you meet a specific requirement. The two common requirements are:
- Minimum balance. You keep at least a set dollar amount in the account. Drop below it during the month and a monthly fee applies.
- Monthly transaction cap. You stay under a set number of debit or e-Transfer transactions a month. Go over and per-transaction fees apply.
Conditional accounts can still work out cheaper than a paid account if the requirement is easy to meet for your situation. The trade-off is the risk of paying the fee in a month when you don't meet it.
What we tracked and what we didn't
For each Ontario credit union we recorded whether a free chequing option exists and what type of condition applies if it is conditional. We did not record the specific minimum balance amount or the specific monthly transaction limit, because those numbers vary by credit union and change without notice.
For the exact current threshold at any credit union shown above, visit the credit union's website. Use this ranking to narrow the shortlist, not to commit to a number.
Deposit insurance in Ontario
Chequing deposits at Ontario credit unions are protected up to $250,000 per insured category by Financial Services Regulatory Authority of Ontario (FSRA). Balances above that limit are not insured.
Full deposit insurance guideMore reading
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Need more than just chequing in Ontario?
Browse the full Ontario directory to compare HISA rates, GIC rates, mortgage rates, and account eligibility across every credit union.