Banking & Cooperatives
Banks are managed by the Federal Government of Canada. To do business with a bank, you need to open a bank account. They offer services such as savings accounts, chequing accounts, debit cards, credit cards, mortgages, travel cheques, personal loans, RRSPs, bank drafts, currency exchange services, letters of credit, financial planning, insurance products, etc.
Cooperatives, also called credit unions, are managed by the provinces. To use a cooperative, you must become a member. They offer, essentially, the same services as banks.