Collaboration will put credit unions at the forefront of secure verification in Canadian finance and enhance the member experience
TORONTO, June. 26, 2025 – Interac Corp. (Interac) is expanding the Interac verification service through a new collaboration with Caspian One Open Data Limited (Caspian), CUCC, and participating credit unions. Through the integration of the Interac verification service, credit unions can unlock new opportunities for growth, enhance member loyalty, and contribute to a more robust and innovative financial ecosystem.
Interac verification service, part of the Interac Verified™ suite of solutions, now allows participating credit unions to streamline customer onboarding. This innovative solution allows organizations to digitally verify new customers by connecting a customer’s existing secure online banking login with a participating Canadian financial institution, eliminating the need for manual verification. This collaboration, supported by Caspian’s open data platform and enabled through CUCC ‘s program governance model, introduces a scalable and inclusive solution for digital verification and brings trusted digital services to more Canadians.
Caspian’s open data platform streamlines integration for credit unions by reducing costs and complexity and enabling faster deployment of the Interac verification service. In addition, CUCC’s governance and operating model brings together diverse credit unions under a shared framework, providingthem with oversight of the solution.
“Interac is committed to fostering a secure and inclusive digital ecosystem for all Canadians. This collaboration provides credit unions with a powerful opportunity to deliver exceptional customer experiences while streamlining their operations and enhancing their digital security,” said Fatema Pirone, Head of Interac Verified. “The expansion of services lays the groundwork for future innovations, involving both the Interac verification service and Interac Verified credential service, which will further enhance accessibility and convenience for members.”
Organizations adopting the Interac verification service include First West Credit Union, Prospera Credit Union, Affinity Credit Union, Libro Credit Union, Meridian Credit Union, and Uni Financial Cooperation, with plans to welcome additional credit unions in the near future.
“Our successful integration of the Interac verification service is a big step forward in how we help credit unions serve their members. It means faster, smoother onboarding and secure identity verification—something that makes a real difference for members,” said Lewis Poe, Chief Executive Officer at Caspian. “Our capabilities help credit unions make those first interactions easy and intuitive, opening the door to a wave of innovation and a more seamless digital experience.”
This adoption milestone highlights the credit union sector’s collective drive to modernize member experiences through trusted digital verification—laying the groundwork for broader innovation across Canada’s financial ecosystem.
“CUCC is pleased to partner with credit unions of all sizes in bringing the Interac Verified solution to their members. Our goal is to empower credit unions by putting them in the driver’s seat—ensuring they have real decision-making authority in the programs we support,” said Drew Wilczynski, Executive Director CUCC. “The successful launch of this initiative is a testament to the collective effort and shared vision of credit unions and our valued partners.”
The collaboration underscores the commitment of Interac, Caspian, CUCC, and participating credit unions to building a more secure and prosperous digital future for Canadians. For more information, visit https://www.interac.ca/en/verification/personal/verify-yourself-using-document-verification/.
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Quotes from participating credit unions
“We’re proud to join the Interac verification service network, empowering our members to securely access a growing range of digital services using their trusted Prospera online banking credentials. This collaboration with Interac and Caspian allows us to deliver seamless, secure, and convenient digital experiences—whether it’s opening new accounts, applying for financial products, or accessing government services. It’s a key step in our journey to support members in a digital-first world and to actively participate in Canada’s evolving consumer-directed banking framework in 2026 and beyond.”
– Greg Dyck, Chief Digital and Information Officer, Prospera Credit Union.
“Collaboration is at the heart of who we are as a leading Canadian financial cooperative. By partnering with innovative credit unions and fintech’s, we’re delivering more personalized digital banking experiences that reflect our members’ evolving needs. This initiative lays the groundwork for more seamless, integrated financial services—giving members greater control over their data. We hope the expansion of the Interac verification service (IVS) network encourages others to explore the powerful potential of open data solutions.”
– Darrell Jaggers, Chief Transformation Officer, First West Credit Union.
“We’re thrilled to partner with Interac Verified and other participating Canadian credit unions, as it highlights our collaborative commitment to providing secure and seamless financial services to members. This will enhance our ability at Affinity Credit Union to offer innovative solutions, ensuring that our members can conduct transactions with confidence and ease. Together with Interac Verified, we’re setting a new standard for security and convenience in the credit union sector.”
-Mike Elchuk, Chief Information Officer, Affinity Credit Union.
“At Libro, we’re focused on building exceptional digital experiences for everyone we support. Interac Verified lets our owners access services and information faster, using their trusted digital banking credentials without paperwork or in-person delays. It’s about empowering people to move securely and confidently in a digital world and that aligns well with our work strengthening financial well-being. And it positions us strongly for the future, with readiness for a world of open data, and for consumer-driven banking when federal legislation comes into force.”
– Chris Palmer, Chief Information and Technology Officer, Libro Credit Union.
“At UNI Financial Cooperation, we firmly believe that innovation is driven by collaboration. By joining the Interac Verified network, we are strengthening our commitment to providing our members with secure, simple, and accessible digital services. This initiative reflects our vision of building a future where digital trust and personal data empowerment are at the heart of the financial experience.”
– Éric St-Pierre, Chief Executive Officer, UNI Financial Cooperation.
About Interac Corp.
Interac empowers Canadians to transact digitally with confidence by providing payment and value exchange services. In helping to develop the future of money movement in Canada, security is at the core of everything we do. We help keep Canadian customers safe and secure when transacting. With nearly 300 financial institutions connected to our network, Canadians choose Interac products over 20 million times a day on average to exchange money. Interac champions workplace culture and corporate citizenship based on the principles of responsibility, diversity, and inclusion. We are proud to be one of Canada’s leading and most trusted financial brands. For more information, visit our website.
For further information:
Media contact: Interac Corp., 416-869-2017, media@interac.ca
About Caspian One Open Data
Caspian One Open Data is a secure and innovative open data platform that empowers financial institutions to participate in the open data revolution. We offer a unique point-to-point data access solution strategically aligned with the upcoming Canadian regulations. By partnering with Caspian, our clients and partners can leverage our secure fintech ecosystem to unlock new financial products, foster innovation and achieve regulatory compliance. For more information, visit www.caspian-opendata.com
About Prospera Credit Union
Local banking means investing in Local Good. Built on 80 years of service in local communities, Prospera Credit Union is a community-based, purpose-driven organization that offers a full range of financial products and services. Prospera is one of the largest credit unions in British Columbia, with approximately $9.3 billion in assets under administration and 115,000 members. With 24 branches, Prospera is proud to serve communities throughout the Lower Mainland, Fraser Valley and Okanagan. Prospera has consistently been designated a Great Place to Work, including as one of the Best Workplaces in BC and Best Workplaces in Canada. It’s our purpose to build the financial prosperity of our members, enabling thriving local enterprises, financially empowered people and vibrant, healthy communities
About First West Credit Union
First West Credit Union brings together the best of both worlds, combining the scale, stability and solutions of a leading Canadian financial institution with the care and community leadership of a local cooperative. Powered by the leadership of Launi Skinner, First West is Canada’s premier multi-brand credit union, serving 283,000 members through four admired community brands: Envision Financial, Valley First, Island Savings, and Enderby & District Financial. With approximately $20 billion in total assets and assets under administration, First West makes it easy for its members to get impactful, practical advice and personalized service that’s truly in their best interests, through 45 branches across B.C., a Member Advice Centre and leading digital tools.
Since 2010, First West has given back more than $41 million to its communities, while cultivating a culture with its 1,250 team members that is recognized nationally with Canada’s Most Admired Cultures Award, BC’s Top Employers Award, 5-Star Psychological Safety Award, and the Canadian Workplace Wellbeing Award. Learn more at firstwestcu.ca and see how we’re redefining banking to create a future where everyone can flourish.
About Affinity Credit Union
Affinity Credit Union is a values-based, co-operative financial institution and the 10th largest credit union in Canada. With more than $10.5 billion in managed assets and more than 144,000 members, it has the branch network in Saskatchewan with 50 advice centres in 41 communities, including Saskatoon and Regina. Affinity employs a professional workforce of over 840 individuals, is 100% member-owned and seeks to live its purpose of connecting people and communities to financial possibilities.
As a Saskatchewan-born financial co-operative, Affinity’s advisors understand members’ local needs, believe people come before profits and are dedicated to offering great products, competitive rates and genuine, professional advice. By choosing to bank with Affinity, members make it possible for profits to be reinvested in vibrant local communities. Affinity also supports non-profit organizations, local programs, initiatives and events that improve lives, strengthen communities and genuinely make a difference.
About Libro Credit Union
At Libro Credit Union, our purpose is to strengthen financial well-being for a better tomorrow. Libro is a full-service financial institution serving more than 120,000 member-Owners through a network of digital services and 34 physical locations. As a trusted financial partner for 82 years, it’s our passionate staff and commitment to our communities that sets us apart. Libro is a purposed-based business proudly committed to making positive social and environmental impact as a certified B Corporation®, as an associate member of the Responsible Investment Association, and as a Living Wage employer. Visit libro.ca for full information.
About Meridian Credit Union
With more than 80 years of banking history, Meridian Credit Union (“MCU”) is Ontario’s largest credit union, helping to grow the lives of its more than 380,000 retail and business Members. MCU has $26.6 billion in assets, 2,160 employees, and delivers a full range of financial services online, by phone, by mobile and through a network of 87 branches across Ontario, and commercial banking services in 15 locations. MCU Members also have access to THE EXCHANGE® Network, with more than 2,800 no-fee ABMs across Canada and 500,000 ABMs in the United States. In addition to the Credit Union, MCU is the parent to Meridian OneCap Credit Corp (“OneCap”).
About UNI Financial Cooperation
With $5.3 billion in assets and 1,000 employees, UNI Financial Cooperation is an important lever and active contributor to New Brunswick’s economic development ecosystem and beyond. Proud to be at the heart of its members’ and customers’ dreams, UNI is driven by its values of agility, courage, mutual aid, humanity and integrity. For more information, visit www.uni.ca.
About CUCC
CUCC is a national organization supporting all Canadian credit unions’ across the country. Holding nearly 7% of Interac, CUCC works with its partners to enable core and innovative payment solutions for credit unions.
Through CUCC, credit unions are also able to aggregate purchasing power, reduce costs, resource requirements, and risks. CUCC has the necessary expertise to enable core payments services and does it impartially, while ensuring efficient operations. It gives credit unions control over programs through tailored governance models, which benefits over 180 credit unions.
