Your credit union quiz answers

1. Banks and credit unions are run the same way.

False.
Banks are for-profit enterprises whose goal is to turn a profit for shareholders, while Affinity is wholly owned by our members! Our goal is to provide a remarkable experience and support our members’ financial well-being. Our profits are reinvested into making an impact throughout Saskatchewan with competitive rates, providing our members with cutting-edge technology and support for non-profit and other initiatives around the province.

Another way we’re different from banks is our democratic governance. When you become a member you get a say! It’s effective, transparent, accountable, open and ethical. It keeps us connected to our co-operative roots, and to each of our diverse members. Our members are grouped into 9 districts and each district’s members elect council delegates to represent them. Learn more about our governance process.  

2. Credit unions can provide the same level of service that banks do.

True.
We offer a huge variety of products and services to help you achieve your financial goals! Whether you’re looking to address your personal banking, business banking, borrowing or investing we’re here to help!

3. Credit unions and banks use their profits the same way.

False.
As mentioned above a bank’s goal is to make a profit for their shareholders. At Affinity our profits go back into providing better services and rates for our members and supporting Saskatchewan through community impact, sponsorships, awards and scholarships

4. Credit unions are willing to take chances on people who are looking to start their own business.

True.
Our passion is in supporting our members and building strong communities, so helping members start or grow their business is a natural fit! If you have an idea for a business and have developed a plan that you’re knowledgeable and passionate about, we want to support you in achieving your dreams! Give us a call at 1.866.863.6237 to get started. Don’t have a plan yet? No problem, sit down with one of our advisors today and they’ll get you on right path.