Windsor Family Credit Union

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Windsor Family Credit Union
WFCU Credit Union
Credit Union
Industry Financial Services
Founded 1941
Headquarters 3000 Marentette Avenue, Windsor, Ontario, Canada
N8X 4G2
Key people
Eddie Francis (President)[1]
Products Financial
Investment
Insurance
Trust
Website www.wfcu.ca

Windsor Family Credit Union (also known as WFCU) is a Canadian credit union headquartered and located in Windsor, Ontario, Canada.

It is the sixth largest credit union in Ontario operating ten retail locations and serving 34,400 members.[2]

History[edit]

WFCU Credit Union can trace its history back through amalgamations and mergers of four Chrysler Canada credit unions, a General Motors credit union and eight other local credit unions. Its history dates back to its foundation in 1941. Over the years, it has grown from assets of less than $10,000 (at the time of its founding) to a healthy $1.8 billion in Managed Assets and Member Service Totals of $2.6 billion.[3]

In 2008, WFCU Credit Union purchased the naming rights to the new Windsor Arena built on the east end of the city, which is now named WFCU Centre.

Like most other credit unions in the Province of Ontario, WFCU Credit Union is a member of the Deposit Insurance Corporation of Ontario (DICO).[4]

In April of 2016, it was announced that Eddie Francis would take over as president of the institution. The CEO and president at the time, Marty Komsa, relinquished his role as president but remained at the CEO.[5]

In August of 2016, the Windsor Family Credit Union introduced 'SmarterCash: A Pay Day Loan Alternative.' This is a loan program that offers loans from $500 to $2000 with fees that are $1.42 for every $100 borrowed. To access these loans, people must have an account with WFCI.[6]

References[edit]

  1. ^ Pervaiz, Amna (28 April 2015). "Windsor credit union donates $25,000 to 20 local organizations". Windsor: The Windsor Star. Retrieved 19 June 2015. 
  2. ^ "ABout us". Windsor: Windsor Family Credit Union. May 2015. Retrieved 19 June 2015. 
  3. ^ WFCU Annual Report 2013
  4. ^ "Deposit Insurance Corporation of Ontario". Windsor, Ontario: Windsor Family Credit Union. Retrieved 19 June 2015. 
  5. ^ Macaluso, Grace. "Francis promoted to president at Windsor Family Credit Union". Windsor Star. Retrieved 28 May 2017. 
  6. ^ "Windsor Family Credit Union enters payday loan market". CBC News. Retrieved 28 May 2017. 

External links[edit]