DUCA Credit Union
DUCA Financial Services Credit Union Limited, commonly shortened to DUCA Credit Union, is a Canadian credit union.[1] Financial products include chequing and savings accounts, loans, mortgages, insurance and small business products.[2] It is a member-owned institution and its deposits are insured through the Financial Services Regulatory Authority of Ontario.
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Credit Union | |
Industry | Financial Services |
Founded | 1954 |
Headquarters | , |
Number of locations | 16 branches |
Key people | Doug Conick (CEO) |
Number of employees | 300+ |
Website | duca |
History
DUCA was established on May 5, 1954 by Dutch immigrants to Canada under the name Dutch Canadian Toronto Credit Union Ltd.
The company introduced a profit sharing program in 1997. In 2010, DUCA shared $7 million with members.[3]
On November 1, 2000 the credit union changed its official name to its current DUCA Financial Services Credit Union Ltd.[4] DUCA has merged with other credit unions including Torcity Savings Credit Union, Dutch Canadian Credit Union and Virtual One Credit Union Ltd.[5] Today, DUCA has over 59,000 members and over $2.2 billion in assets.[6]
In 2009, DUCA joined the Exchange Network increasing the number of ATMs accessible to members.[7] DUCA is also a member of Interac.[8]
DUCA is currently on a rapid growth phase -- its net branch deposits grew by 99% in 2018 compared to the prior year. This was in large measure due to the 3% annual interest rate being offered to new members who open an Earn More Savings Account (EMSA), which is among the highest rates offered in Canada.[9] The Earn More Savings Promotional Account with 3% interest is closed to new participants effective May 16, 2019.
References
- http://www.cnbpa.ca/DUCA_Event_June09.html Archived 2012-05-02 at the Wayback Machine DUCA
- http://www.duca.com/
- DUCA Financial Services Credit Union Ltd. | DUCA shares $7 million in profit with members
- Going Dutch at DUCA earns active members generous Bonus Shares " The Windmill news articles " goDutch
- DUCA set to expand with Virtual One merger – Back Issue – investmentexecutive.com
- http://annualreport.duca.com/
- Find An ATM
- Interac Member Lists
- Mr. Thrifty