Basement foundation wall has crack

I will be insulating the basement soon and I noticed a crack in the foundation wall from the top to the floor. I went outside and there is a crack through the stucco as well, so I would assume that it's cracked right through. For the moment there is no seepage of water through the wall, but I'm thinking before I insulate I ought to get this fixed up first. The house is 2 yrs old and we have a lot of gumbo here in Winnipeg for a base and we do experience a bit of shifting of the house. The ? is, what do I use to repair the crack?? I was thinking of the black stuff that they use on the roof. Can someone offer some advice please?
Thanks in advance.

 

Roof sealant will not stay in place properly to seal a crack. The crack is a structural problem, caused by poor base prep by the contractor. At 2 years old, the contractor warantee may already be useless. You need an engineer to look at the problem causing the crack before you worry about sealing it, otherwise it will just continue to widen, eventually allowing water through and causing problems with drywall cracks and stuck doors above.