Stop Funding Billionaires. Switch Your Bank.
Canada's Big 5 banks financed $900 billion in fossil fuels since 2016. Move your deposits to credit unions—member-owned, democratic, and divested from extraction.
Big 5 fossil fuel financing since 2016
Target deposits to move by 2030
Average time to complete switch
Why Switch from Big 5 Banks to Credit Unions?
Big 5 Banks Extract
- ✗$56 billion profit in 2024 (record high)
- ✗Finance fossil fuels, offshore tax havens
- ✗$15/month in fees on average
- ✗Shareholder profits over community
Credit Unions Serve
- Member-owned (you get a vote)
- Divested from fossil fuels
- Lower fees, better rates
- Fund local mortgages & small businesses
How to Switch Banks in 30 Days
Week 1: Research & Open Account
Choose a local credit union (Vancity, Desjardins, Alterna). Open checking and savings accounts online or in-branch.
Recommended: Vancity (BC), Desjardins (QC), Alterna (ON), Servus (AB)
Week 2: Redirect Direct Deposits
Update payroll, benefits, and any recurring deposits to your new credit union account.
Week 3: Transfer Pre-Authorized Payments
Move rent, utilities, subscriptions, and credit card autopay to your credit union.
Week 4: Close Big Bank Accounts
After 2 payroll cycles, transfer remaining balance and close your Big 5 accounts. Keep records.
“Switching to Vancity took 3 weeks. I saved $180/year in fees, and my money now funds local mortgages instead of oil sands. Best financial decision I've made.”
— Sarah K., Vancouver
Switched from TD to Vancity, March 2024
Frequently Asked Questions
Are credit unions safe? Is my money protected?
Yes. Credit unions are insured by provincial deposit insurance (up to $250,000 in most provinces) or CDIC, just like big banks. They're regulated by OSFI and provincial authorities.
Can I still use ATMs and online banking?
Yes. Credit unions share ATM networks (Acculink, Exchange) with 3,000+ fee-free ATMs Canada-wide. Most offer full online/mobile banking, e-transfers, and bill payments.
Will switching hurt my credit score?
No. Closing bank accounts doesn't affect credit scores. Only closing credit cards impacts your score (keep those open or transfer them separately).
What if I have a mortgage with a Big 5 bank?
You can still switch your checking/savings. Keep your mortgage until renewal, then refinance with a credit union (they often offer better rates).
How does this hurt Big 5 banks?
Banks need deposits to lend. A $10B outflow triggers credit rating reviews by Moody's/S&P, regulatory scrutiny by OSFI, and forces them to raise capital or cut lending to billionaires.
Which credit union should I choose?
BC: Vancity, Coast Capital
QC: Desjardins
ON: Alterna, Meridian
AB: Servus, Connect First
National: Tangerine (online, ING-owned but better rates)
Ready to Starve the Banks?
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