Interior Savings Credit Union Review

With its head office located in Kelowna, British Columbia, Canada, Interior Savings Credit Union has over the years built up a name as one of Canada’s oldest and long-lasting credit unions.

The union has always provided financial support for its members allowing them to make the best of opportunity, whenever and wherever it may arise. It has over the years claimed to be solely dedicated to its community.

This review will examine the operations of Interior Savings Credit Union and try to establish if the union has lived up to its claims of putting community locals first.

Interior Savings Credit Union

Starting out in 1939 in just 20 members, Interior Savings could only boast of a total of $96.50 in deposits. The founding members had a goal for a financial institution that would not only keep their funds safe but also grow said funds. This goal and desire were what birthed the Interior Savings that we know today.

The credit union built on principles of keeping member’s money local while doing local “good” has come a long way from that initial $96.50 deposit total.

The Credit Union now boasts of over 72,000 members and has 21 branches and 2 Commercial Services Centres through which it offers these members its services.

Years of continuous operation has culminated into Interior Savings amassing assets worth over $2.1 billion. This giant credit union has in a way stuck to its roots and still focuses its attention on doing good in its member’s communities.

Over the many years of its operation, Interior Savings has been forced to adapt to numerous changes be it social, economic, or technological. It has, like most other credit unions, been forced to sink or swim. The fact that I am currently writing a review on the union is evidence of its ability to swim

This adaptability has to lead it to develop channels that let it offer members its services even more efficiently and effectively. These channels include

The Credit Union still holds all members it high regard. If you decide to use their services, there is a promise of serving their members and communities and placing their interest first in all situations.

Interior Savings Credit Union

Banking with Interior Savings Credit Union

Interior Savings offers its members numerous ways to bank with them.

Depending on your needs and requirements you can decide to use any of the following banking means to access their Services. It should be noted that the Union provides different services for personal and business needs.

Personal Needs

1. Online Banking: Interior Savings lets its customers use its services through the web. Through their online services, you can

  • Open an account online

  • Perform online purchases using Interac Online

  • Keep track of your income and expenditure using budgeting and spending tools

  • Access your account balance

  • Pay your bills, both present, and future

  • Set-up automatic transactions

  • Perform Interac e-transfers

  • Perform transfers between accounts and other members

You can also order cheques and receive e-statements through their online services.

2. Mobile Banking: Interior Savings has a mobile app for both Android and iOS operating systems. You can easily download their app onto your smartphone. With the App, you can perform most if not all of the actions that the online banking service affords you.

The mobile app goes a step further than the online banking service in that it has a mobile wallet. This lets you perform fast and seamless transactions all from your phone.

3. Branch Visits: If you are a fan of face-to-face meetings, you can always book a branch appointment. Interior Savings currently has over 21 branches that can assist you in setting up your account or answer any inquiries that you might have. Thanks to the COVID 19 pandemic, the branches currently require that you book an appointment before you visit.

You can book appointments on the union’s website,

4. Other banking options: You can also access the credit union’s services through other options such as using their ATMs, calling in on their telephone, 1-855-220-2580, or through their TeleTouch Banking service.

You can withdraw cash, deposit cash and cheques, pay bills, and view account information through their ATM services. Interior Savings has over 4500 ATMs all over Canada. For a detailed list of the company’s working ATMs, you can check out their website.  

To use the TeleTouch banking service on your phone you will require your account number and Personal Access Code (PAC). For areas outside of Kelowna, you can call toll free on 1-877-861-4728, and within the Kelowna area, you can call on 250-862-4728.

 The TeleTouch service can only help you perform rudimentary operations on your accounts such as paying bills, transferring funds, finding out current interest and foreign exchange rates, and reporting card loss.

Interior Savings Credit Union

Business Needs

Interior Savings offers its members that are business owners with a list of financial services. It endeavours to help communities grow by helping the businesses in the communities grow.

These services include;

  • Banking Services

  • Borrowing

  • Insurance

  • Credit Cards

  • Cash Management

1. Banking Services: Interior Savings does business banking through three accounts. The chequing accounts, the savings accounts, and the US accounts.

The Chequing account comes in three different packages, Basic Chequing, Business Packs,          and Community Builders. Each package has its peculiarities and offers different levels of benefits to business owners. All come with a $1.50 charge for Interac e-transfers.

  • The Basic Chequing account is for small business owners that want pay-as-you-go services. It comes with a $6 monthly fee and there is a $1 charge for every deposit or withdrawal.

  • Interior claims that the Business Packs account is tailored for all your business needs. The account attracts a fee between $8 and $135 monthly and allows between 10 to 200 deposits or withdrawals each month.

  • Interior’s Community Builders account is dedicated to charities, non-profits, and the likes. The account has a $0 monthly fee and allows for 25 deposits or withdrawals each month.

Interior’s savings accounts come in two types, Plan 24 Savings and Investment Savings. The Plan 24 savings account has a lower interest rate than its counterpart. It is designed for those with short term savings goals while the Investment savings account generate returns based on how much and how long you have saved.

Both the savings accounts do not require monthly fees and come with unlimited deposits.

However, The Investment Savings account lets you do 2 account transfers each month within the Credit Union and the Plan 24 Savings account lets you make withdrawals twice a month.

The third kind of account you can open with Interior Savings is the US account. It has two distinct types, the US Chequing account that helps you avoid exchange fees and the US Investment Savings which is just like the regular Investment Savings Account.

Check out the company website, for more information.

2. Borrowing: Interior Savings will provide its loans and help out with mortgages for your business. It offers some of the most competitive rates on Commercial and Construction Mortgages. The Union will also assist you in securing lines of credit, Letters of credit, finance your projects, and so on.

3. Insurance: Well, Interior Savings also helps its members out when it comes to insurance. The Credit Union provides assistance with both Commercial and Farm Insurance. Using the union’s insurance services will get you covered for

  • Business Property

  • Property Insurance

  • Crime and Fidelity

  • Business Interruption etc.

4. Credit Cards: Interior will also provide your business with a credit card depending on the needs of your business. There are three types of business Credit Cards you can get from Interior Savings.

  • Visa No Fee Card- this card comes with no annual fee payments and no extra card fees. There’s an annual interest rate of 19.9% accompanying this card. Interior Savings advertises it as the smart way to make company purchases.

  • Visa Low Rate Card- this card comes with a $25 annual fee and a $5 additional fee. It boasts an annual interest rate of 12.9%.

  • Visa Infinite- With a $99 annual fee, a $50 additional fee charged, and a 19.9% interest rate, Interior Savings believes that this card will help your business receive the most rewards.

Check here for more information about their credit cards and their rewards catalogue.


The Union also assists with cash management and decision making. This will culminate in you not having to bear the stress of running a business all on your own.

With their partnership with Payfirma Merchant Services, the Credit Union’s expertise in business management is surely not one to look down on in any way.

Although Interior Savings Credit Union has not been around for a very long time it boasts of years of experience and adaptability.

Considering the services they offer both on a personal level and a business level, it is safe to say that becoming a member of the Union would not be such a bad idea in any instance.

Thank you for reading the article! Please let me know your thoughts and comments below. 

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