Why Choose a Credit Union?
The Credit Union Advantage
Ontario consumers searching for flexible innovative financial services, delivered with a personal touch, need only look as far as their community credit union. Many credit unions provide a full range of financial options, including mutual funds, traditional deposit and lending services, and access through the nationwide electronic network.
Unlike other financial institutions, credit unions' primary commitment is to the needs of their members. Every member is an equal owner, regardless of financial holdings, and enjoys the right to have a say in how the credit union is run.
Credit Unions further distinguish themselves by their dedication to quality of life in the communities they serve. Deposits and profits are reinvested in the Ontario communities in which credit unions operate, through personal and business loans, bursaries, community economic developement and dividends paid on member shares.
In addition to their community focus, credit unions offer financial peace of mind. Ontario Credit Unions are regulated by the Ministry of Finance and the Deposit Insurance Corporation of Ontario(DICO). DICO insures Canadian currency deposits repayable no later than five years from the date of deposit, including interest, to a maximum of $100,000 per individual, and insures each separate RRSP/RRIF/OHOSP contract and each unique trust or joint account to a maximum of $100,000 per account.
Providing Exceptional Member Service
A Canadian consumer survey conducted by the National Quality Institute in 1997 revealed credit unions are tops when it comes to customer service. The survey ranked credit unions first in financial services, and third overall out of 21 industries, with courtesy and the quality of people at the point of sale being their greatest strengths.
Partnerships To Meet Your Financial Needs
Through recent partnerships with a variety of mutual fund companies and insurance firms, many credit unions are able to meet all of their members' financial needs for today and tomorrow, through to retirement. With members' needs forecast, credit unions offer unparalleled service and advice.
For more information on the Ontario Credit Union System, visit: Credit Union Central of Ontario or call 1-800-263-3966, ext. 333.