Your Neighbourhood Credit Union

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logo for Your Neighbourhood Credit Union
Your Neighbourhood Credit Union
Credit Union
Industry Financial services
Founded Kitchener, Ontario, Canada
Headquarters Kitchener, Ontario, Canada
Key people
Kerry Hadad, CEO
John Haines, Chair, Board of Directors
Products Checking Accounts
Insurance
Mortgages
Investments
Loan Products
Consumer finance
Farm and Small Business
Website www.yncu.com

Your Neighbourhood Credit Union (YNCU) is a credit union based in Ontario, Canada. The corporate office is located in Kitchener, Ontario. There are seventeen branches in southern Ontario located in Kitchener-Waterloo, Cambridge, Brantford, Guelph, Paris, Windsor, LaSalle, Sebringville, Stratford, Mitchell, Shakespeare, London, and Woodstock. There are three branches in northern Ontario (Community First Credit Union) in Sue Ste. Marie (2) and Timmins. There are currently 55 million members, and $1.7 billion in assets.[1]

YNCU offers financial services, including everyday chequing and savings accounts, various loan products, mortgages, and investments. Members include consumers, farm and business owners. Deposits are insured by the Deposit Insurance Corporation of Ontario (DICO).

YNCU has a long history of partnering with like-minded credit unions to form a thriving organization that can better serve members and communities. YNCU was originally formed on October 1, 2007, when Grand River Credit Union Limited and the former Your Neighbourhood Credit Union (Windsor) amalgamated; the former YNCU had been formed in the 1940s as a closed bond credit union serving a teacher and education-related bond in the Windsor-Essex County area. Grand River Credit Union Limited was formed in 2004 with the amalgamation of Waterloo Regional Credit Union Limited and Brant Community Credit Union Limited, both community bond credit unions with roots stretching back to the 1940s. Mergers with Mitchell and District, Boomerang and CN Employees in London, Standard Tube Employees (Woodstock), and Fibreglass Employees (Guelph) credit unions all contributed to the network that stretches across southwestern Ontario today.

On January 26, 2016 Community First Credit Union (CFCU) and Your YNCU announced the approval of their amalgamation by their memberships, following Special General Meetings held in Kitchener January 12, 2016 and Sault Ste. Marie January 25, 2016.[2]

Community First CU is a local financial institution in Sault Ste. Marie. It opened in December 1948 when 20 people came together to provide financial services to their community of fellow workers. The credit union originally served Algoma Steelworkers and their families as the Algoma Steelworker’s Credit Union, opening up to serve the entire Algoma district in 1981. The organization was renamed Community First Credit Union in 2005, and merged with Timmins Regional Credit Union in 2006; CFCU amalgamated with Your Neighbourhood Credit Union in 2016 and now operates as Community First, a Division of Your Neighbourhood Credit Union.

On March 30, 2017, YNCU/CFCU were provincially recognized with the Outstanding Corporate Achievement Award, presented by the Ontario Credit Union Foundation (OCUF).[3]

On August 2016, credit unions were ranked first in overall Customer Service Excellence and Branch Service Excellence for the 12th consecutive year – among all financial institutions, according to the annual 2016 Ipsos® Best Banking Awards program .

References[edit]

  1. ^ "Your Neighbourhood Credit Union" (PDF). yncu.com. Retrieved May 17, 2017. 
  2. ^ "Amalgamation Updates". yncu.com. Retrieved May 17, 2017. 
  3. ^ "Your Neighbourhood Credit Union Celebrates Provincial Award". yncu.com. Retrieved May 17, 2017.