Your Credit Union
| image | |
| Type | Credit Union |
|---|---|
| Industry | Financial services |
| Founded | 1950 |
| Headquarters | Ottawa, Ontario[1] |
| Key people |
Denis Laframboise, President & CEO Michael Bradley, Chair of the Board of Directors Joel Lalonde, VP Business Development and Sales |
| Products |
Checking Accounts Savings Accounts Insurance Mortgages Investment Bank Asset-Based Lending Consumer finance |
| Website | https://www.yourcu.com/Personal/ |
Your Credit Union (YCU) is a credit union in Ontario, Canada mainly serving members across the Ottawa-Carleton,[2] Cornwall,[3] and rural Eastern Ontario regions. It is incorporated under the Credit Unions and Caisses Populaires Act, 1994, and is a member of the Deposit Insurance Corporation of Ontario[4] and of Central 1 Credit Union.
YCU has three branches: two in Ottawa and one in Cornwall. The Credit Union's headquarters are located at 14 Chamberlain Ave, Ottawa, Ontario.
It was established in 1950. YCU comprises six groups: the Education Group, the Municipal Group, the Ottawa Citizen Group, the United Counties Education Group, the Howard Smith Group,[5] and the Trillium Group.
- Collegiate Institute Board of Ottawa Teachers' Credit Union – 1961
- Became the Ottawa Education Credit Union – 1969
- Merged with the Ottawa Separate School Teachers’ Credit Union and changed its name to the Ottawa Carleton Education Credit Union – 1971
- Moved to 14 Chamberlain Ave and set up as a head office – 1980
- Merged with Your Municipal Credit Union – 1998
- Merged with Ottawa Citizen Employee's Credit Union, United Counties Educational Credit Union, Howard Smith Credit Union – 1999
- Merged with Trillium Credit Union – 2004
- Ottawa Carleton Education Credit Union changed its name to Your Credit Union – 2004
- Started to accept everyone to become a member – 2009
- Closure of its branches in the towns of Cardinal and Williamsburg – 2011[6]
- Launched ATM Partnership with Cornwall Community Hospital – 2012[7]
Your Credit Union became an open bond financial institution in 2009, allowing anyone to become a member. As at September 30, 2012, there were 12,476 members[8] of the Credit Union with over $204 million[9] in assets. Every adult member has at least 5 membership shares and 1 vote in the decision making process and thus all members are equal owners regardless of the size of their deposits.
Products and services offered
- Banking
- Chequing
- Savings
- Youth
- Borrowing
- Mortgages
- Personal Loans
- RRSP Loans
- Lines of Credit
- MasterCard
- Go Green Loans & Mortgages
- Investing
- Term Deposits
- Mutual Funds
- RRSPs
- RESPs
- RRIFs
- YCU Preferred Shares
- Insurance
- Critical Illness
- Disability
- Home and Auto
- Life
- Loss of Employment
- Travel
References
- ↑ Your Credit Union – Head Office & Chamberlain Branch Ontario Co-operative Association
- ↑ YCU's branches in the city of Ottawa
- ↑ YCU's branches in the city of Cornwall
- ↑ List of DICO's Insured Credit Unions and Caisses Populaires Deposit Insurance Corporation of Ontario
- ↑ Your Credit Union – Cornwall Branch (Howard Smith Credit Union) Ontario Co-operative Association
- ↑ News Release Branch Closures – Cardinal and Williamsburg, September 30, 2011
- ↑ Press Release Cornwall Community Hospital Launches ATM Partnership with Your Credit Union, February 13, 2012
- ↑ 2012 Audited Financial Statements Audited Financial Statements, P.31
- ↑ 2012 Annual Report 5-Year Financial History and Summarized Financial Statements, P.8
External links
- Official Site Your Credit Union
- General information of YCU Credit Unions of Ontario
- YCU: A great backdrop for a government press conference 11/27/2012 Credit Union Central of Canada
- Official Site Central 1 Credit Union
- DICO - Who We Are and What We Do The Deposit Insurance Corporation of Ontario (DICO)