Frequently Asked Questions

Members and non-members alike may, from time to time, have questions for us. Below is a sampling of some of those that are more frequently asked. Of course, if you have any questions for us, don't hesitate to contact us directly at any of our branches, or by calling our Member Contact Centre at 1 800.728.6440.

How much of my money on deposit is guaranteed?
All deposits are guaranteed 100% by the Deposit Guarantee Corporation of Manitoba.

What do I need to open an account?
All that’s needed to become a member of SCU is a $5 share, 2 pieces of identification and good credit standing. Membership is open to all.

How can I find out the current balance on my account?
We mail statements to active accounts once each month. Balances and statement activity can be verified through CU BY PHONE® telephone banking and SCU Direct® online service Information regarding your account can also be confirmed by calling our Member Contact Centre toll-free from anywhere in North America: 1 800.728.6440. Find out out more about Online Banking here .

What is a Spousal RRSP?
If one spouse/common-law partner will be in a higher tax bracket in retirement, you may want to consider a spousal RRSP. To set up a spousal RRSP, your spouse applies for a plan in their name, even though he or she may not have earned any income. Although you make the contributions to the plan, the assets of the plan belong to your spouse. The contributor then claims the contribution as a tax deduction. The income eventually created from the funds will be taxed at the spouse’s lower tax rate.

What kind of credit card do you offer? Will it get me travel points?
We offer MasterCard® which has the Choice Reward® points option. Choice Rewards accumulate 1 point for every 1 dollar spent on most of our cards and can be redeemed for items in a catalogue or travel certificates. Travel certificates can be used with any airline at any time anywhere.  Click here to find out more about all our credit card options.

Will I be able to get cash from my account if I’m not at either of the SCU branches?
You can access your funds anywhere in the world using an ATM card at a machine that has the ATM, CIRRUS or Interac logo. There are CIRRUS machines in major cities all over the world.

Do I have to pay anything to make deposits?
Deposits are free and can be made at the wicket or through our night deposits or any Manitoba credit union ATM. Deposits for commercial accounts made at an ATM are subject to fees.

I want to help my children learn about saving, can you help?
We offer FAT CAT® and HEADSTART® accounts designed specifically for your children. FAT CAT offers a higher interest rate on the first thousand dollars for children ages 5-12. The HEADSTART chequing offers teens, ages 13-18, banking with free ATM and Interac access. We also offer our Student pack and On Track Pack for ages 19-24. Ask us for details.

What is a MIC and what is its purpose?
A MIC is a Member Identification Code we use as a layer of security for our members. It can be used in place of other verbal forms of identification, such as a birth date which may be well known to others. The member may choose a word, number or name for their MIC. The MIC is requested whenever a transaction is conducted by telephone or in person, in order to verify the member’s identity. The code also allows the member to perform transactions that may otherwise require a signature.  We do not share this code with anyone and it should be treated the same way you would treat a personal identification number (PIN).