About PenFinancial Credit Union
PenFinancial Credit Union is a member-owned Ontario credit union serving the Niagara region and Haldimand County, with roots dating to the 1949 founding of the Chemical Workers Credit Union in Niagara Falls. Its present form was built through more than 20 mergers (1990-2016) of local workplace and community credit unions. It serves roughly 19,000 members and local businesses through seven locations, offering personal and business banking, lending, and investments.
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Access: Membership required · Open common bond
Eligible provinces: Ontario
How to join: Apply online, by phone, or at a branch and purchase membership shares.
Deposit protection: Financial Services Regulatory Authority of Ontario
prudential regulator + administers the Deposit Insurance Reserve Fund: unlimited on registered accounts, $250,000 non-registered; absorbed DICO in 2019
Current top rates
rates confirmed as of 2026-10-16| GIC ladder | Best rate |
|---|---|
| 1-year GIC | 2.50% |
| 2-year GIC | 3.20% |
| 3-year GIC | 3.30% |
| 4-year GIC | 4.40% |
| 5-year GIC | 3.55% |
Base ladder rates. Institution may have more term rates below.
Rate history builds here as we track this institution's rates over time.
Term deposit rates
Highlighted rows are promo rates— not stated on siterates confirmed as of 2026-10-16Filter rates
| Term | Registration | Redeemable | Compounding | Interest paid | Min–Max deposit | Rate |
|---|---|---|---|---|---|---|
| Long-term — 1 year + | ||||||
| 1 year | Non-reg | N | — | Annually | — | 2.50% |
| 15 months | Non-reg | N | — | Annually | — | 3.70% |
| 2 years | Non-reg | N | — | Annually | — | 3.20% |
| 27 months | Non-reg | N | — | Annually | — | 4.00% |
| 3 years | Non-reg | N | — | Annually | — | 3.30% |
| 4 years | Non-reg | N | — | Annually | — | 4.40% |
| 5 years | Non-reg | N | — | Annually | — | 3.55% |
No rates match these filters.
Savings & chequing rates
rates confirmed as of 2026-10-16Filter rates
| Type | Product | Calculated | Paid | Min. balance | Rate |
|---|---|---|---|---|---|
| Savings | |||||
| Savings | eSavings | — | — | $1 | 0.05% |
| Savings | eSavings | — | — | $5,000 | 0.70% |
| Savings | eSavings | — | — | $50,000 | 0.80% |
| HISA | High Interest Savings Account | — | — | $1 | 0.05% |
| HISA | High Interest Savings Account | — | — | $5,000 | 0.60% |
| HISA | High Interest Savings Account | — | — | $25,000 | 0.70% |
| HISA | High Interest Savings Account | — | — | $50,000 | 0.80% |
| USD | U.S. Savings AccountUS$ | — | — | $1 | 0.05% |
| USD | U.S. Savings AccountUS$ | — | — | $3,000 | 0.10% |
| RRSP | |||||
| RRSP | Growth Savings / RSP Variable | — | — | $1 | 0.05% |
| RRSP | Growth Savings / RSP Variable | — | — | $5,000 | 0.10% |
| RRSP | Growth Savings / RSP Variable | — | — | $10,000 | 0.15% |
| RRSP | Growth Savings / RSP Variable | — | — | $25,000 | 0.20% |
| RRSP | Growth Savings / RSP Variable | — | — | $60,000 | 0.30% |
| RRSP | Growth Savings / RSP Variable | — | — | $100,000 | 0.35% |
No rates match these filters.
Mortgage rates
Highlighted rows are promo ratesrates confirmed as of 2026-10-16Filter rates
| Term | Type | Open / closed | Insured | Posted rate |
|---|---|---|---|---|
| 1-year | Fixed | Closed | No | 3.49% |
| 1-year | Fixed | Closed | No | 5.64% |
| 2-year | Fixed | Closed | No | 5.39% |
| 3-year | Fixed | Closed | No | 4.89% |
| 3-year | Fixed | Closed | No | 5.04% |
| 4-year | Fixed | Closed | No | 5.19% |
| 4-year | Fixed | Closed | No | 5.34% |
| 5-year | Fixed | Closed | No | 4.89% |
| 5-year | Fixed | Closed | No | 5.04% |
| 1-year | Fixed | Closed | Yes | 3.49% |
| 3-year | Fixed | Closed | Yes | 4.54% |
| 4-year | Fixed | Closed | Yes | 4.84% |
| 5-year | Fixed | Closed | Yes | 4.54% |
No mortgage rates match these filters.
Home equity line of credit
| Product | Posted rate |
|---|---|
| Home Equity Line of Credit | 5.45% |
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