Best Credit Union
HISA Rates in Canada 2026
Compare high-interest savings account rates across 183+ Canadian credit unions: member-owned cooperatives with strong deposit protection and no shareholder pressure on rates.
Current #1 HISA Rate
3.25%
Rosenort Credit Union LimitedMB · Provincial membership
1–3%
above standard savings account rates, consistently
Unlimited
deposit insurance in BC, AB, SK, MB & NL
No commissions
rates verified independently from official sources
Top HISA rates at Canadian credit unions
Sorted by rate, highest first. Rates sourced directly from each credit union's official website.
Most credit unions serve residents of their home province only. Nationally accessible options are marked Open to all. Check the Eligibility column before applying.
Rosenort Credit Union Limited
MB residentsLighthouse Credit Union
ON residentsKorean Catholic Church Credit Union Limited
ON residentsSouris Credit Union Limited
PE residentsEquity Credit Union Inc.
ON residentsParama Credit Union Limited
ON residentsConsolidated Credit Union
PE residents
Kawartha Credit Union Limited
ON residents
Steinbach Credit Union
MB residentsAccess Credit Union
MB residentsStride Credit Union Limited
MB residentsSouthwest Regional Credit Union
ON residentsRates shown are for standard non-registered savings accounts. Promotional or introductory rates are noted where identified. Always verify the current rate directly with the credit union before opening an account.
What is a high-interest savings account?
A high-interest savings account (HISA) is a deposit account that pays meaningfully more interest than a standard chequing or savings account. Unlike a term deposit or GIC, your money stays fully liquid: deposit or withdraw at any time without penalty.
HISAs are ideal for emergency funds, short-term savings goals (like a home down payment or vacation), or simply parking money you're not ready to invest. The interest is calculated daily and usually credited monthly.
Interest earned in a non-registered HISA is taxed as ordinary income. Holding a HISA inside a TFSA shelters the interest from tax entirely, making a TFSA HISA one of the most efficient savings tools available to Canadians.
HISA at a glance
Rate vs. yield
The stated rate is an annual rate. If you hold the account for less than a year, your actual return will be lower. Compare annual rates on an apples-to-apples basis when shopping.
Why credit unions offer higher HISA rates
The structural reason credit unions consistently beat the Big Five is simple, and it's not going away.
No external shareholders
Credit unions have no shareholders demanding quarterly returns. Every dollar of profit can be reinvested into better rates, lower fees, and member services instead of dividend payments.
Provincial, not federal
Most Canadian credit unions are provincially regulated, giving them flexibility to price deposits competitively without the capital requirements and administrative overhead of federally chartered banks.
Competition for deposits
To attract local savers, credit unions compete on rate. Without the nationwide brand recognition and massive marketing budgets of the Big Five, delivering better rates is how they earn and keep members.
How to compare HISA rates effectively
The headline rate isn't always the whole story. Here's what else matters.
Check if the rate is promotional
Some high rates are introductory offers valid for 3–6 months. Confirm whether you're looking at a permanent rate or a limited-time promotion.
Understand minimum balance requirements
A few credit unions require a minimum balance to earn the advertised rate. If your balance dips below the threshold, you may earn a lower rate.
Factor in eligibility
If a credit union requires geographic or employer membership, make sure you qualify before planning to move your money there.
Consider deposit insurance
For large balances (above $100,000), the unlimited deposit insurance available in BC, AB, SK, MB, and NL is a meaningful advantage over CDIC-covered bank accounts.
Why your HISA rate matters
Annual interest earned on a $50,000 balance:
For illustration only. Actual interest depends on compounding frequency, account terms, and rate changes.
HISA frequently asked questions
What is a high-interest savings account (HISA)?
A high-interest savings account is a deposit account that pays a significantly higher interest rate than a standard savings account. Unlike a chequing account, a HISA is designed to hold money you're not spending immediately: an emergency fund, down-payment savings, or short-term cash reserves. Your money is liquid and accessible at any time.
Are HISA rates at credit unions better than banks?
In most cases, yes. Because credit unions are member-owned cooperatives with no external shareholders, they return more of their earnings to members in the form of better rates and lower fees. The top credit union HISA rates in Canada are typically 1–3 percentage points higher than the Big Five banks' posted savings rates.
Is my money safe in a credit union HISA?
Yes. Credit union deposits are protected by provincial deposit insurers. In British Columbia, Alberta, Saskatchewan, Manitoba, and Newfoundland and Labrador, deposits are protected with no dollar limit. In Ontario, New Brunswick, Nova Scotia, and Prince Edward Island, coverage is up to $250,000 per insured category. Quebec covers up to $100,000 per depositor per category through the AMF's Fonds d'assurance-dépôts. This is separate from CDIC, which only covers banks.
Do I need to be a member to open a HISA at a credit union?
Most credit unions require a small membership share (typically $5–$25) to open any account. Some credit unions are open to all Canadians; others restrict membership by geography, employer, or community. Our directory filters by 'open to all' if you want options with no eligibility barriers.
How often do credit union HISA rates change?
Credit union HISA rates typically move in response to the Bank of Canada's overnight rate. When the BoC raises rates, credit unions usually follow within a few weeks; when it cuts, rates may drop. We verify rates directly from each credit union's website and show the date each rate was last confirmed.
Can I hold a HISA inside a TFSA or RRSP at a credit union?
Yes. Most credit unions offer registered accounts (TFSA, RRSP, RRIF, FHSA), and the interest earned inside those accounts is sheltered from tax according to the applicable rules. A HISA held inside a TFSA means your interest is completely tax-free.
Rate accuracy notice: Rates shown are sourced directly from each credit union's official website and are updated on a rolling basis. However, rates can change without notice; the figure shown may not reflect today's posted rate. Always confirm the current rate at the credit union's official site before making a financial decision. CreditUnionDirectory.ca is not responsible for decisions made based on rates that have changed since our last review. Learn about our methodology →
Find your best HISA rate
Browse every Canadian credit union with a verified HISA rate: filter by province, eligibility, and deposit insurance.
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