Coast Capital Review 2024: A Dependable Credit Union in BC

With many banking options out there, it’s hard to find the right one for you. But did you ever consider a credit union?

Because they are owned and controlled by members, credit unions, like Coast Capital, focus on serving their members’ needs instead of concentrating on the bottom line.

With better rates, lower fees, and top-notch customer service, Coast Capital offers its members affordable services. If you’re looking to make the switch to a new financial institution, check out my Coast Capital review to see if it is suited to your financial needs.

Our Verdict
Coast Capital Review

Coast Capital Savings

Credit Union in British Columbia

As a credit union, Coast Capital offers its members no to low fee chequing and savings accounts, credit cards, mortgages, and investment options. This financial institution focuses on its member’s goals and how to meet them.

  • Higher interest rates and lower fees
  • Variety of options for all financial needs
  • Able to apply for bank accounts and mortgages online
  • Physical locations are limited to British Columbia

What Is Coast Capital?

As one of Canada’s largest credit unions, Coast Capital is committed to helping its members achieve their financial goals. Owned by members (over 555,000 people paid $5 for their equity shares), Coast Capital is held accountable to its customers. That means lower fees and better interest rates.

Coast Capital is a full-service financial institution that offers its members chequing and savings accounts, mortgages, personal loans, lines of credit, investment opportunities, and even credit cards. Their goal is to prioritize their members and give them the tools needed to help them hit their goals.

The Services Offered

Coast Capital is one of the first financial institutions to offer a free chequing account. In addition, they have a wide range of other products, both for business and personal use.


Coast Capital offers four different chequing accounts, including its popular Free Chequing, Free Debit Account. With no monthly fees, unlimited transactions, and the use of 4,000 surcharge-free ATMs, this is the account that helped the credit union make a name for itself.

The other chequing accounts feature “extras” not included in the basic account. They include things like personalized cheques, interest, and free Canadian and international bank drafts. Here’s a comparison between some of the accounts.

accounts Comparison

In addition to the chequing accounts, Coast Capital offers a high-interest savings account. With no monthly fee and an interest rate higher than its competitors, customers frequently open this account in combination with one of the chequing accounts.

Other features include:

  • Mobile deposits
  • Two free monthly transactions
  • Access to the mobile banking app
  • Access to over 4,000 ATMs

Credit Cards

Coast Capital offers a choice between five different credit cards, part of a partnership with Desjardins, one of Canada’s largest financial groups.

Each credit card has competitive interest rates, travel insurance, and the ability to earn bonus dollars. Redeem rewards for things like travel, show tickets, and gift cards.

Here’s a breakdown of each card and what it offers:

Credit card 1

Credit card 2


Coast Capital is dedicated to making customers achieve their goals, and for many, one of those goals is homeownership.

With low-interest rates, Coast Capital has all the tools needed on their website to apply for a mortgage – budget and mortgage calculators, along with a step-by-step guide to applying online. Plus, you’ll know within two days whether you’re approved – it’s as easy as that!

With their Members Get It Mortgage, you can choose between fixed and variable rate mortgages with flexible terms and a payment schedule to fit your budget. Switching to this program entitles you to a $1,500 cash bonus. Use it to help pay for new home expenses or loan fees.


A personal loan lets you gather some breathing room in your budget, and Coast Capital makes it easy with its great rates and flexible repayments.

Personal Loans

With fixed or variable options, customers have the option to choose term length and repayment schedule – a major bonus when trying to fit another payment in your budget.

In addition to personal loans, Coast Capital offers lines of credit, auto loans, and creditor insurance.


Whether you’re saving for retirement, college, or somewhere in between, Coast Capital has a range of products to help achieve your financial goals.

You can work with a financial advisor to plan ways to make the most of your savings. Their experts can help clear up any technical jargon and offer easy-to-understand advice, making investing a breeze.

Business Accounts

One of the biggest advantages to Coast Capital is its variety of products. Not only does it offer personal banking solutions but also caters to businesses. With that in mind, take a look at the extensive range of business products available.

  • A selection between five business chequing accounts
  • High-yield savings accounts or a business trust account
  • Coast Visa business credit card
  • A range of financing options – everything from commercial real estate to equipment financing and auto loans.
  • Access to an investment team to help with tax and investment planning, mutual fund options, and wealth management.

Is Coast Capital Savings Only In British Columbia?

With over 50 branches located throughout British Columbia, Coast Capital is one of Canada’s largest credit unions. While members can access services digitally throughout Canada, Coast Capital currently only has branches open in British Columbia.

According to a 2017 press release, the credit union does have plans to eventually expand to other parts of the country, noting that such growth will allow them to “invest more resources into products and services that better serve its members’ growing online and mobile banking needs.”

Not to mention it provides Canadians with another choice for their banking needs, will create more jobs, and allow those within Coast Capital to seek out job advancement positions.

Coast Capital Vs Vancity

Vancity is British Columbia and Canada’s largest credit union by asset size. Aside from that, there are very few differences between it and Coast Capital. Vancity offers the same assortment of financial products – chequing and savings accounts, mortgages, and investment opportunities.

With the selection so similar to Coast Capital, the decision to go with one instead of the other ultimately may come down to the fine print – interest rates, service fees, and proximity to local branches and ATMs.

How to Sign Up for a Coast Capital Account

Become a new Coast Capital member in as little as five minutes – it only takes a few clicks, and you’re ready to purchase your member equity shares. If you think it’s that easy – you’re in for even more surprises.

Coast Capital makes it easy to sign up for chequing and savings accounts and even apply for mortgages – it’s all done online. You just fill out a quick form, and a service rep will be in touch to discuss additional information or secure any pending documents needed from you.

Final Thoughts

With so many selections available for your banking needs, don’t just stick to traditional banks. Credit unions offer the same great service with lower fees and higher interest rates.

Coast Capital provides its members exceptional service and an assortment of products for all their financial needs and wants. Combine that with its access to ATMs and online banking presence, and the credit union easily becomes a major player in the personal and business banking world.

If you still want to look around for a personal bank account, check out these top chequing account options.

Photo of author
Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Read about how he quit his 6-figure salary career to travel the world here.

Check Out These Posts:

Leave a Comment