$200 bonus when opening an account at a BC credit union | General comparisons | Discussion forum

Loonie said

Only for BC residents.

I think that's because, unfortunately, B.C. credit unions require B.C. residency to join - but that doesn't stop you from moving out of province and keeping your account. Also, if you have a relative in B.C., you could use their address for the mailing out of the welcome package (make sure you go with a credit union in B.C. that doesn't require a branch visit - Coast Capital Savings and First West's Valley First/Enderby & District Financial/Envision Financial divisions don't) or just plan a visit out to B.C. and utilize the relative's address.

Also, worth noting: the promo technically expires at the end of this year but there's no reason to suspect it won't be renewed for next year, as it has been since 2013. Credit unions are struggling to grow their membership base in the face of bank, branchless banking and non-bank competition. The promo is operated by Central 1 Credit Union, their wholesale and shared services business that is owned by B.C. credit unions, and it's also worth noting you must never have been a B.C. credit union member since April 1st, 2013, I believe. (I'm not, though I am a member of two Manitoba credit unions but they use a different provincial credit union central so that'd be fine but just not sure I need any more bank accounts at this point.)

Curious, Peter, who do you use primarily for your day-to-day banking post-Citizens Bank of Canada (I know you've written in the past that's who you'd used primarily)? I'm still using Tangerine Bank - there's a few minor things I'd like them to fix but otherwise am happy with them.

Cheers,
Doug