Press Releases

Your Neighbourhood Credit Union Celebrates Provincial Award Expand/Collapse

FOR IMMEDIATE RELEASE April 3, 2017 YOUR NEIGHBOURHOOD CREDIT UNION CELEBRATES PROVINCIAL AWARD

Your Neighbourhood Credit Union (YNCU) and Community First, a Division of Your Neighbourhood Credit Union were provincially recognized with the Outstanding Corporate Achievement Award presented by the Ontario Credit Union Foundation (OCUF). The award was presented at the OCUF Annual General Meeting on Thursday, March 30th in Toronto.

The OCUF Corporate Achievement Award is given out annually by the Foundation to a credit union (or company within the co-operative financial system) in recognition of their contributions to the community. The award is given to a company that makes a considerable investment in the community that is above normal expectations. This is the first award that YNCU and Community First have accepted as a merged entity since their amalgamation on April 1st, 2016.

“I can’t imagine a better way to celebrate our one-year anniversary as a merged credit union than to share this award with our staff and members,” says Kerry Hadad, Chief Executive Officer for Your Neighbourhood Credit Union. “This award is the result of the efforts of every single one of our staff who has given their time and made the effort to give back and represent us so well. What makes this award extra special is that it shows that our values as a combined credit union are truly aligned.”

Community First Division President, Brent Lamming, echoed the sentiment. “Giving back to our communities is one of our most important pillars. Winning this award together, our first as a combined organization is a true testament to our shared values as a team. We look forward to continuing to do more in each and every community that we serve, and thank our members and staff for believing in our shared vision of making our communities a better place to live, work, and play.”

YNCU and Community First amalgamated on April 1st, 2016 and the organization became the 6th largest credit union in Ontario, serving approximately 57,000 members through 20 branches and overseeing approximately $1.7 billion in assets.

About Your Neighbourhood Credit Union and Community First, A Division of Your Neighbourhood Credit Union

Your Neighbourhood Credit Union is a full-service credit union open to everyone living in the province of Ontario. Your Neighbourhood Credit Union offers a full range of financial products and services for personal, business banking, and wealth management. In 2016, Your Neighbourhood Credit Union merged with Community First Credit Union, with Community First operating as a division of Your Neighbourhood Credit Union Limited.

Download Press Release 

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For further information from Your Neighbourhood Credit Union, contact:

Kate Neff
VP Marketing Services & Corporate Communication
Your Neighbourhood Credit Union
T. (519) 804-9195
E. kneff@yncu.com

For further information from the Ontario Credit Union Charitable Foundation, contact:
Clayton Shold Executive Director
Ontario Credit Union Foundation
T: (289) 813-1962
E: clayton@ocuf.org

Kerry Hadad, Chief Executive Officer
Your Neighbourhood Credit Union
38 Executive Place
Kitchener, ON N2P 2N4
519-804-9190
khadad@yncu.com

Brent Lamming, President, Community First Division & SVP Strategy
Community First
289 Bay Street
Sault Ste. Marie, ON P6A 1W7
705-942-1795
blamming@communityfirst-cu.com

Better than a bank: Credit unions lead Canadian financial institutions for customer service excellence 12 years in a row Expand/Collapse

Canadian credit union industry receives total of nine coveted Ipsos Best Banking Awards

TORONTO, ON (August 25, 2016): The Canadian Credit Union Association (CCUA) is pleased to announce that Canadians have ranked credit unions 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 program1.

Credit unions were also awarded sole honours for Values My Business and Live Agent Telephone Banking Excellence.

Read more ... click to download the complete press release

Central 1 recertified as meeting highest information security standards Expand/Collapse

August 4, 2016

Central 1 Credit Union recently passed its recertification by independent agency Schellman & Company Inc. as an organization that meets the highest standards for information security.

Schellman’s audits provide independent assurance that Central 1 operates an Information Security Management System (ISMS) conforming to the requirements of ISO/IEC 27001:2013. Central 1 originally received its ISMS certification in 2008. Central 1 is regularly audited against this standard each year.

The certification sets Central 1 apart in the industry for keeping security a high priority and it aligns with our long-term strategic priority around Internal Business Processes where we "build secure, highly available, high-performing, standardized systems, processes, policies, procedures, and contracts to optimize operational efficiency, decision making, and risk management," said Martin Kyle, Director, Operational Risk and CISO.

Schellman said the scope of its review applies to all products and services offered by Central 1, including all support functions, from its headquarters in Vancouver and regional offices in Mississauga and Toronto. Data processing facilities in British Columbia and Ontario also fall within scope of the certification.

ISO 27001 is an international framework for an information security management system and it is recognized as a best practice.

“Central 1’s clients trust us with confidential and private data,” Kyle said. “In return, they are looking for assurances that we take the appropriate steps to protect their information. The ISO 27001 certification helps us provide that assurance.”

Central 1 was the first financial organization in Canada to hold this ISO 27001 certification for online banking.

About Central 1

With offices in Vancouver, Mississauga and Toronto, Central 1 holds on balance sheet approximately $14.6 billion in assets. We provide wholesale financial products, trust services, payment processing solutions and direct banking services to more than 300 credit unions and institutional clients from coast to coast.

In addition, Central 1 is the primary liquidity manager, payments provider and trade association for our 42 member credit unions in B.C. and 74 Ontario member credit unions. Our members represent a consumer-oriented, full-service retail financial system that collectively serves 3.3 million members and holds more than $107.9 billion in assets. For more information, visit www.central1.com.

Contact

Art Chamberlain
Media Relations Manager
Central 1 Credit Union
T 905.282.8534 or 1.800.661.6813 ext. 8534
E achamberlain@central1.com

Local credit union earns 18 national marketing awards Expand/Collapse

Your Neighbourhood Credit Union (YNCU) and Community First, A Division of Your Neighbourhood Credit Union were recognized with 18 national marketing awards during the annual Marketing Association for Credit Unions’ (MACU) Strategic Marketing Conference in Ottawa on Monday, May 30th. YNCU took home 3 of the awards, while Community First received 15. 

The YNCU Marketing Team received awards for radio, communications and their e-newsletter, and the Community First Marketing Team won awards for social media, financial education, direct marketing and a brand refresh (completed with TWG Communications in North Bay). The awards submissions were completed for the 2015 calendar year, prior to the amalgamation of the two credit unions.

“We are thrilled for the success of our marketing teams at the AIME Awards Gala,” says Kerry Hadad, Chief Executive Officer of Your Neighbourhood Credit Union. “Our marketing staff has achieved tremendous accomplishments as two individual teams, and we cannot wait to see what they can do together now that we have amalgamated.”

“We are very proud of our teams’ successes at the AIME Awards,” says Brent Lamming, President of Community First. “MACU’s recognition of this year’s successful campaigns demonstrates that our marketing team is effectively communicating and resonating with our target audiences. With the marketplace constantly changing, our marketing team has made a conscious effort to develop creative that stands out and sets us apart.”

YNCU and Community First amalgamated on April 1st, 2016, and celebrated their 18 wins together as one team. Attracting entries from credit unions across Canada, the AIME Awards recognize the best and brightest achievements in credit union marketing, advertising and communications.

About Your Neighbourhood Credit Union and Community First, A Division of Your Neighbourhood Credit Union

Your Neighbourhood Credit Union is a full-service credit union open to everyone living in the province of Ontario. Your Neighbourhood Credit Union offers a full range of financial products and services for personal, business banking, and wealth management. In 2016, Your Neighbourhood Credit Union merged with Community First Credit Union, with Community First operating as a division of Your Neighbourhood Credit Union Limited.

For media inquiries, contact:

Kate Neff, VP, Marketing Services and Corporate Communications
Your Neighbourhood Credit Union
38 Executive Place
Kitchener, ON N2P 2N4
519-804-9190, ext 637
kneff@yncu.com

Kirstin Dias, Marketing Manager
Community First, A Division of Your Neighbourhood Credit Union
289 Bay Street
Sault Ste Marie, ON P6A 1W7
kdias@communityfrist-cu.com

YNCU's CEO, Kerry Hadad, elected to Central 1 Board of Directors Expand/Collapse

VANCOUVER,  April 20, 2016— Central 1 Credit Union (Central 1) is pleased to announce the election of Kerry Hadad and the re-election of Elmer Epp and Bill Kiss to Central 1’s Board of Directors. Each director has been elected for a three year term commencing at the conclusion of Central 1’s annual general meeting on April 30, 2016.

Continue reading ...

Waterloo Regional Police Service, Crime Stoppers and Your Neighbourhood Credit Union partnering to help spread information during March – Fraud Awareness Month Expand/Collapse

Kitchener, February 29, 2016 – Waterloo Regional Police Service and Crime Stoppers have a new partner in Waterloo Region. Your Neighbourhood Credit Union will use its branch network and social media presence to help as many people as possible learn about new and evolving threats from increasingly sophisticated fraudsters.

As part of the 2016 Crime Prevention Campaign, the Ontario Association of Chiefs of Police has again created a booklet to highlight scams from financial and lottery to identity theft, from door-to-door to computer-based. The booklet also includes tips for securing your home, your car and yourself.

Hard copies of the booklet will be available free of charge in YNCU branches; the electronic version is posted on YNCU’s website (https://www.yncu.com/Personal/LearningCentre/E-booklets/ ) and will be promoted to younger people through social media. 

“We’re proud that our network of branches and our online presence will aid in this important initiative,” said YNCU CEO Kerry Hadad. “YNCU stands behind the efforts of our police service and of Crime Stoppers. We believe in strong communities and that means working together with community partners. I couldn’t be more proud to see our staff working to educate our members and the public. ”

To help distribute the ‘Know Who You’re Dealing With’ booklet, WRPS, Crime Stoppers and YNCU will host a drop-in event at the Cambridge branch of Your Neighbourhood Credit Union on Saturday March 19th from 9:30 to 12:30 at 385 Hespeler Road (in front of the Cambridge Centre Mall). Both Investigative Unit and uniformed officers will be on-site to answer questions. Everyone is welcome to stop by for refreshments and to learn about fraud prevention.

For fraud prevention tips, visit the Waterloo regional Police website at www.wrps.on.ca/en/staying-safe/staying-safe.aspx or visit the Canadian Anti-Fraud Centre at http://www.antifraudcentre-centreantifraude.ca/index-eng.htm

Anyone wishing to report a fraud may contact the Waterloo Regional Police Service at 519-653-7700 or Crime Stoppers 1-800-222-8477.

About Your Neighbourhood Credit Union
Your Neighbourhood Credit Union (YNCU) is a full-service financial organization offering retail, business and agricultural banking, investment and insurance products.  Based in Kitchener, YNCU branches have proudly served communities throughout south-western Ontario since the 1940s.

With 42,000 member/owners, 18 branches and more than $1 billion in assets under administration, YNCU remains committed to offering co-operative banking to communities.  YNCU is a founding member of the Credit Unions of Ontario group, sponsoring the provincial awareness campaign to share co-operative banking with all Ontarians.
www.yncu.com
http://cooperativebanking.ca

Media Contact:
Kate Neff
VP, Marketing and Corporate Communications
Your Neighbourhood Credit Union
Direct: 519.804.9195
Email: kneff@yncu.com

Your Neighbourhood Credit Union and Funeral Plans-Canada announce partnership to provide exclusive member benefits Expand/Collapse

Kitchener, February 24, 2016 – Your Neighbourhood Credit Union announced today it is partnering with Funeral Plans-Canada to provide special benefits to members through an exclusive agreement.

Members of the credit union will receive additional benefits when pre-planning funeral services with a local family-owned partner funeral home.

“Family-owned funeral homes have a special connection to communities, and provide important support and services during a difficult time,” said Kerry Hadad, CEO of Your Neighbourhood Credit Union.  "This arrangement gives our members an opportunity to learn about the value of pre-planning, and to receive additional services when someone passes away. As a financial institution we know how important planning and taking care of family is; this agreement is an extension of that.”

Tina Dietrich is a licensed funeral director and the Sales & Operations Manager for Funeral Plans-Canada. “We couldn’t be more pleased to be associated with a principled and like-minded organization like Your Neighbourhood Credit Union. We support family-owned funeral homes and, through this agreement, are able to connect community-based organizations in bringing greater value and peace of mind to people’s lives.”

Pre-planning is increasingly common as people seek to ensure all elements of their affairs are handled the way they choose, and that their family is not left to make decisions during a difficult time.   The agreement allows YNCU members to receive pre-planning information in a variety of ways, to engage with community-based funeral service providers, and to benefit from a special members-only offer.

About Funeral Plans-Canada

The mission of Funeral Plans-Canada (FPC) is ‘Preserving the Value of Funeral Service & Supporting Independent Funeral Providers’. Funeral Plans-Canada was founded in 1999.  With family history in funeral service that dates back to the mid-19th century and a leadership team with more than 90 years of combined experience, FPC provide the right tools and resources to Funeral Providers. FPC is committed to helping funeral professionals preserve the value of funeral service.

About Your Neighbourhood Credit Union

Your Neighbourhood Credit Union (YNCU) is a full-service financial organization offering retail, business and agricultural banking, investment and insurance products.  Based in Kitchener, YNCU branches have proudly served communities throughout south-western Ontario since the 1940s.

With 42,000 member/owners, 18 branches and more than $1 billion in assets under administration, YNCU remains committed to offering co-operative banking within the communities it serves.  YNCU is a founding member of the Credit Unions of Ontario group, sponsoring the provincial awareness campaign to share co-operative banking with all Ontarians.

www.yncu.com

Media Relations Contacts:

Tina Dietrich
Sales & Operations Manager
Funeral Plans-Canada
Direct: 519.584.7293 x 307
Email: tina@funeralplans.net
Kate Neff
VP, Marketing and Corporate Communications
Your Neighbourhood Credit Union
Direct: 519.804.9195
Email: kneff@yncu.com

MEMBERS OF COMMUNITY FIRST AND YOUR NEIGHBOURHOOD CREDIT UNION OVERWHELMINGLY SUPPORT THE AMALGAMATION OF THE TWO ORGANIZATIONS Expand/Collapse

January 26, 2016 – Community First Credit Union (CFCU) and Your Neighbourhood Credit Union (YNCU) announced today 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.

Two thirds of eligible votes were required to carry the special resolution.   At YNCU, Investment Shareholders voted 96% in favour, while the general membership voted unanimously for the partnership. Last night at CFCU, the proposal carried by a margin of 98% and 99%, respectively.

“I’m so pleased with the result,” said YNCU Chief Executive Officer Kerry Hadad. “The results tell us that the members of our credit unions are engaged and solidly in favour of this partnership; they recognize as well as we do the benefits of our two great organizations becoming one. The support we have received from staff on both sides is particularly heartening. They see the potential, and know we are building a better organization for our members and for the future.”    

Community First Chief Executive Officer, Brent Lamming, echoed the sentiment. “This is an exciting move for our organization, employees and members.  We took great care in selecting a partner, and believe wholeheartedly that Your Neighbourhood Credit Union supports and believes in the same things our members support and believe in.  This move means our members have more options when it comes to their banking with branches in both Northern and Southern Ontario.  We eagerly look forward to the future of our organization.”

In the submission to the Financial Services Corporation of Ontario (FSCO), CFCU and YNCU put forth a business case that would allow Community First to retain its name and branding in the areas it currently serves. This model would be the first of its kind in Ontario.  FSCO accepted the proposal and granted permission for the special request. The combined operation will be known as Your Neighbourhood Credit Union Limited; in Southern Ontario it will continue to operate as Your Neighbourhood Credit Union while in Northern Ontario, CFCU will be known as Community First, a division of Your Neighbourhood Credit Union.  This model represents a true partnership between the two organizations.

Kerry Hadad will be President and CEO of the new organization, while Brent Lamming will be SVP, Strategy of YNCU and President of the Community First division. The new YNCU will maintain corporate offices in Kitchener and Sault Ste. Marie.

The combined organization will become the 6th largest credit union in Ontario, serving approximately 58,000 members through 21 branches and overseeing approximately $1.5 billion in assets. The closing date for the amalgamation is scheduled for April 1, 2016.

For further information or comment, please contact:

Kerry Hadad
Chief Executive Officer
Your Neighbourhood Credit Union
38 Executive Place, Kitchener, ON
519-804-9190 ext. 612
khadad@yncu.com

Brent Lamming
Chief Executive Officer
Community First Credit Union
289 Bay street, Sault St. Marie, ON
705-942-1795
blamming@communityfirst-cu.com

New index grades Ontario municipalities on co-operative values and community strength Expand/Collapse

Toronto, ON, October 14, 2015 – The city of Orillia has topped a new ranking of Ontario municipalities based on co-operative values including civic engagement, green space, charitable giving and the availability of social programs.

The new Co-operative Communities Index released by Credit Unions of Ontario is a province-wide initiative highlighting the values behind Co-operative Banking, including concern for community and charitable spirit.

The top 30 communities were selected from six regional groups, and ranked according to scores in five categories: Civic Engagement, Shared Green Spaces, Charitable Spirit, Social Investment and Community Assets.

Each 10-point category was researched using municipal websites, telephone interviews and resources including Statistics Canada and local Volunteer Canada directories.

Orillia topped the index through its strong showing in the “Social Investment” and “Charitable Spirit” categories.

Additional highlights include:

  • Orillia and Cambridge have tied for highest level of Social Investment, or the percentage of their municipal budget allocated to community resources

The release of the Co-operative Communities Index coincides with International Credit Union Day on October 15, 2015–a day to honour those who have dedicated their lives to the credit union movement’s history and promote its achievements through this year’s message of “People Helping People.”

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Read the full press release and view the infographic.

For more information contact:

Kate Neff
VP, Marketing and Corporate Communications
Your Neighbourhood Credit Union
Direct: 519.804.9195
Email: kneff@yncu.com

Provincial Manager of the Year Award Goes to Your Neighbourhood Credit Union CEO Expand/Collapse

Kitchener, October 6, 2015 – John Haines, the Chair of the Board of Directors of Your Neighbourhood Credit Union (YNCU), is overjoyed to share that Kerry Hadad, CEO of YNCU, was recognized as Manager of the Year by the Credit Union Management Association (CUMA) at their conference in Niagara-on-the-Lake.


“Staff nominated Kerry for this honour, and that speaks volumes. He absolutely epitomizes the qualities required of this prestigious award,” Mr. Haines said. “True to form, Kerry accepted the award not for himself, but on behalf of his team. It was further evidence of what true leadership is all about. The Board could not be more pleased that Kerry is getting the public recognition we’ve always known he deserves.”

For his part, Mr. Hadad was surprised to learn about the win. “I had no idea what people were up to until I got the call from the awards committee. It was a nice surprise, yes, but it was also very humbling. I’ve always tried to surround myself with great people who love what they do and who have the potential to be great leaders. This award is really theirs – they make me look good every day.”

The recipient of this prestigious award receives a $2,000 donation made on their behalf to the Ontario Credit Union Charitable Foundation, who partners with Ontario’s credit unions in the support of education, healthcare, poverty relief and legacy giving.

About the Alan Marentette Manager of the Year Award

The late Alan Marentette was a leader in the credit union system for over four decades. Among his many contributions and accomplishments, Alan was one of the original founders of CUMA, which was established over 25 years ago. Alan exemplified the high standards of leadership and service that this award was developed to recognize. Level Five Strategic Partners Inc. and The Credit Union Managers’ Association (CUMA) are pleased to sponsor the ‘Alan Marentette Manager of the Year Award’. The award is designed to recognize those managers who exemplify a high standard of leadership and service to credit unions, their owners and communities.

http://www.cuma.ca/man.php

About Your Neighbourhood Credit Union

Your Neighbourhood Credit Union (YNCU) is a full-service financial organization offering retail, business and agricultural banking, investment and insurance products.  Based in Kitchener, YNCU branches have proudly served communities throughout south-western Ontario since the 1940s.

With 42,000 member/owners, 18 branches and more than $1 billion in assets under administration, YNCU remains committed to offering co-operative banking within the communities it serves.  YNCU is a founding member of the Credit Unions of Ontario group, sponsoring the provincial awareness campaign to share co-operative banking with all Ontarians.


www.yncu.com
http://cooperativebanking.ca/  

Media Contact:
Kate Neff
VP, Marketing and Corporate Communications
Your Neighbourhood Credit Union
Direct: 519.804.9195
Email: kneff@yncu.com

Canadian credit unions receive record nine awards, including coveted Customer Service Excellence Award from IPSOS for 11th year running Expand/Collapse

TORONTO, ON (August 27, 2015) – Among all financial institutions, Canadians ranked credit unions first in overall Customer Service Excellence and Branch Service Excellence for the 11th consecutive year. Credit unions were also awarded sole honours for the Values My Business award for the eighth year in a row. In total, Canada’s credit unions received a record number of nine awards through the annual 2015 Ipsos® Best Banking Awards.

In total, Canadian credit unions were awarded nine awards in the following categories:
1. First for Customer Service Excellence (11th consecutive year);
2. First for Branch Service Excellence (11th consecutive year);
3. First for Values My Business (eighth consecutive year);
4. Winner (tied) for Products & Services Excellence;
5. Winner (tied)ii for Financial Planning and Advice (eighth consecutive year);
6. Winner (tied) for ATM Banking Excellence;
7. Winner (tied) for Online Banking Excellence;
8. Winner (tied) for Live Agent Telephone Banking Excellence (third consecutive year); and
9. Winner (tied) for Automated Telephone Banking Excellence; (third consecutive year [note: prior to 2013 there was a single Award for total Telephone Banking, which the credit union system shared each year from 2008 to 2012]).

“While a lot of organizations talk about putting their customers first, credit unions have a long and distinguished history of providing an ongoing and meaningful commitment to customer service, along with continued fiscal responsibility. These awards are a testament to this approach to doing business – and we want to extend our thanks to all of our members who rated us,” explained Martha Durdin, president and CEO, Credit Union Central of Canada.

“Canadian credit unions remain unique in the ways that they conduct business and serve their customers (members). This is reflected in the very core of daily operations through social responsibility and community outreach programs – and resulted in making credit unions what they are today; the cornerstones of community strength,” added Ms. Durdin.

Media contact:
Janet Gibson Eichner
Manager, Communications
Tel: (416) 232-3458
Gibson-eichnerj@cucentral.com

Download complete press release from Credit Union Central of Canada

COMMUNITY FIRST CREDIT UNION and YOUR NEIGHBOURHOOD CREDIT UNION ANNOUNCE THEIR INTENTION TO MERGE OPERATIONS Expand/Collapse

YNCU and CFCU

Kitchener, ON (June 30, 2015) The Boards of Directors of Community First Credit Union (CFCU) and Your Neighbourhood Credit Union (YNCU) announced today that they will pursue a merger to strengthen cooperative banking in their respective communities.

As there is no geographical overlap, the merger of these two credit unions means that each will maintain a strong community foothold and branch presence. The agreement provides the opportunity to take advantage of shared technology and additional member service channels while continuing to deliver local, personalized and cooperative financial services to individuals, businesses, and farms.

“We are excited about the opportunity to align with an organization that supports our vision of delivering financial solutions to our members and communities.  We are passionate about making our members lives easier and helping them reach their financial goals. Combining our operations will ensure that our members have increased access to branch and convenience locations, access to more financial product offerings and enhanced member services", said Community First CEO Brent Lamming.

YNCU’s CEO, Kerry Hadad, said, "There is so much that aligns our two organizations, including shared values for our staff and members, which makes this agreement a natural step. We share the principles of building relationships with members that enrich their lives and their communities. Working together as equals in pursuit of the greater good is what we want to achieve with this partnership."

COMMUNITY FIRST CREDIT UNION serves 15,000 members and operates three branches in Sault Ste. Marie and Timmins; they hold approximately $490 million in assets under administration. YNCU currently serves approximately 43,000 members, and operates 18 branches across Southwestern Ontario (Kitchener, Waterloo, Cambridge, Brantford, Paris, Mitchell, Sebringville, Stratford, Shakespeare, Windsor, LaSalle, Guelph, Woodstock, and London), with over $1 billion in assets under administration.

There is no planned job loss as a direct result of this merger, and employees will have an opportunity to grow and develop under the new combined organization.

“Merging our organizations will strategically position both Community First and Your Neighbourhood Credit Union for long term growth and sustainability.  As a board we are committed to ensuring that our members and communities have an opportunity to succeed financially and we see the same values in Your Neighbourhood Credit Union,” said Community First’s Board Chair, Jeff Piper.

YNCU Board Chair John Haines echoed those sentiments. “Our respective communities will benefit from a stronger credit union that will continue to be good community leaders that connect us together.  We’re pleased to be delivering co-operative banking with a partner such as Community First; this is truly a partnership of equals.”

The merged organization will be known as Your Neighbourhood Credit Union; however, the Community First branches will retain their name and branding. Mr. Hadad will be CEO of the merged entity, while Mr. Lamming will assume a senior organizational strategic role with YNCU as Senior VP of Strategy, while continuing to lead the Community First region as President. Subject to the normal conditions of due diligence, regulatory and membership approval, the agreement is anticipated to close on December 31, 2015. The merged entity will become the 6th largest Credit Union in Ontario.

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About Community First Credit Union

Community First Credit Union Limited is a full service credit union open to everyone living in the province of Ontario.  Community First offers a full range of financial products and services for both personal and business banking.  Located in Northeastern Ontario and operating for over 65 years.  Community First has two branches located in Sault Ste. Marie and one location in Timmins.  For more information please visit: www.communityfirst-cu.com

About Your Neighbourhood Credit Union

Your Neighbourhood Credit Union is the result of multiple mergers over the years, most recently of Grand River Credit Union, Brant Community Credit Union, Mitchell & District Credit Union, Your Neighbourhood Credit Union (Windsor), and Boomerang Credit Union. Each of the legacy credit unions have roots reaching back to the 1940s. Your Neighbourhood Credit Union was selected as the organization’s name in 2007 as it is borderless and welcoming to all, and is a reflection of the values shared by the founding organizations. For more information please visit:  www.yncu.com

For further information, please contact:

 

Brent Lamming
Chief Executive Officer
Community First Credit Union
289 Bay street, Sault St. Marie, ON
705-942-1795
blamming@communityfirst-cu.com

Kerry Hadad
Chief Executive Officer
Your Neighbourhood Credit Union
38 Executive Place, Kitchener, ON
519-804-9190 ext. 612
khadad@yncu.com

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YOUR NEIGHBOURHOOD CREDIT UNION MOVING TO A PROFESSIONAL ADVISORY MODEL IN THEIR WINDSOR AND LASALLE BRANCHES Expand/Collapse

JUNE 12, 2015 – Your Neighbourhood Credit Union (YNCU) is making changes in their Windsor and LaSalle branches, moving to a professional advisory business model. Both branches will continue to provide personal service to members, supported by easy-to-use technology. The Windsor branch will relocate to a nearby mall effective August 1st; the LaSalle branch will be renovated.
 
“We are committed to the communities of Windsor and LaSalle and are making an investment in the new branches,” said CEO, Kerry Hadad. “Technology has had a significant impact on all sectors of our economy.  Customers in the financial services industry have increasingly insisted on the use of technology such as online banking.  A result is the reduced member traffic we are experiencing in the Windsor and LaSalle branches.  Your Neighbourhood Credit Union has responded by committing new resources to these branches and moving to a new advisory branch model.”
 
VP, Member Services, Lew Figol said, “We are responding to a decline in traffic in the branches, and increasing requests for more mobile and self-serve options. Members regularly ask us what we are doing to attract younger members. This blended way of providing service means routine transactions will be handled at a ‘smart’ ATM, by desktop or on mobile devices, while those who need assistance with more complex matters will also be served more efficiently, as our management staff will focus on more specific member needs.”
 
In the new and renovated branches, self-serve technology will offer members greater convenience and more options to conduct simple transactions, with the option to get on-site help from a manager, if needed.  Enhanced withdrawal and deposit functionality at the ATMs includes the ability to choose Canadian or U.S. bills in various denominations, and deposit cheques using image-enabled technology – resulting in faster processing and clearing times.
 
Branch Manager Lori Roy says, “We are receiving positive feedback from members who speak with us about the new branches. Being open longer hours in LaSalle and seven days a week at the Tecumseh Mall means greater access for everyone.”
 
The new branch model resulted in eight member service positions being made redundant; however, it created the need for three new assistant branch manager positions. Notice well beyond the minimum required, and career transition and other support were offered to the affected staff.
 
YNCU currently serves approximately 43,000 members, and operates 18 branches across Southwestern Ontario (Kitchener, Waterloo, Cambridge, Brantford, Paris, Mitchell, Sebringville, Stratford, Shakespeare, Windsor, LaSalle, Guelph, Woodstock, and London) with over $1 billion in assets under administration.
 
For further information, please contact:

Kate Neff
VP, Marketing and Corporate Communications
Your Neighbourhood Credit Union
38 Executive Place
Kitchener ON
519.804.9195
kneff@yncu.com

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YNCU receives two national marketing awards Expand/Collapse

Kitchener, ON June 4th – Your Neighbourhood Credit Union (YNCU) was recognized with two national awards at this year’s MACU marketing conference in Kelowna, British Columbia (www.macu.ca).

Credit union marketers from across Canada met last week for the annual conference. MACU recognizes credit unions for achievement in creative and results-oriented marketing through the Achievement in Marketing Excellence Awards.  YNCU was honoured to receive the highest award under the Digital marketing category for its member newsletter, and a silver award in the Social and Viral category for a promotion to increase awareness of our Facebook presence.

“Like all businesses, YNCU was required to explain our obligations under the terms of CASL (Canadian Anti-Spam Legislation) and gain explicit agreement from our members to continue communicating with them via electronic channels. We chose a plain language approach that explained our duties and member rights, and it really resonated; within 24 hours half of members had read the message, and we saw the highest click-through rate ever. We connected with what matters,” explained Kate Neff, VP, Marketing and Corporate Communications.  Kerry Hadad, CEO of YNCU, is also pleased with the results. “Our team was featured in Market Smarts magazine in November as a case study for our social and digital media strategy. These awards serve to underline both our hard work in these areas and our forward thinking way of doing business. We’re all celebrating these wins.”

About Your Neighbourhood Credit Union

Your Neighbourhood Credit Union (YNCU) is a full-service financial organization offering retail, business and agricultural banking, investment and insurance products.  Based in Kitchener, YNCU branches have proudly served communities throughout south-western Ontario since the 1940s.  With 42,000 members, 18 branches and more than $1 billion in assets under administration, YNCU remains committed to offering co-operative banking within the communities it serves.  YNCU is a founding member of the Credit Unions of Ontario group, sponsoring the provincial awareness campaign to share co-operative banking with Ontarians http://cooperativebanking.ca/

Follow us on Twitter @YourNCU and Facebook www.facebook.com/YourNCU

CN (London) Credit Union votes to join YNCU Expand/Collapse

For Immediate Release --
CN (LONDON) CREDIT UNION MEMBERS VOTE OVERWHELMINGLY IN FAVOUR OF JOINING YOUR NEIGHBOURHOOD CREDIT UNION

JUNE 18, 2014 - The Board of Directors of CN (London) Credit Union are thrilled to announce that their membership voted unanimously to join Your Neighbourhood Credit Union (YNCU), based in Kitchener. Members voted in favour of joining YNCU and becoming open bond (serving the whole community as well as current and former employees of CN Rail, VIA Rail, and AllStream Canada, and their families).
 
C N (London) Credit Union Board Chair Chris Martin, along with Cindy Gelinas, General Manager and the entire staff and Board of Directors are very happy with the result. “We look forward to the additional financial services and branches that will be available to our members as part of the Your Neighbourhood  family,” Martin said following the vote. Gelinas shared the sentiment; “Everyone is excited that our credit union will be growing and will be part of such a community-minded organization like Your Neighbourhood Credit Union. We want to be the first choice for our members’ banking, and cannot wait to welcome the whole community to bank with us!”

Kerry Hadad, YNCU’s Chief Executive Officer, shared the optimism about the future in London; “This is a great day for all of us. CN Credit Union has been an important part of the lives of their members for generations, and we want to help grow what they have built. London is an evolving community, and we look forward to being part of that growth and change. It’s an honour that CN members chose us to be part of their future.”

C N (London) Credit Union serves over 1275  members including current and former employees of CN Rail, VIA Rail, AllStream Canada and their families, and operates one branch in London; they hold approximately $8.3 million in assets. YNCU currently serves approximately 38,000 members, and operates 17 branches across Southwestern Ontario (Kitchener, Waterloo, Cambridge, Brantford, Paris, Mitchell, Sebringville, Stratford, Shakespeare, Windsor, LaSalle, Guelph, Woodstock, and London) with over $940 million in assets.

The agreement is anticipated to close on September 30, 2014 and will operate under the name of Your Neighbourhood Credit Union.

Visit www.yncu.com or for further information, please contact:

Kerry Hadad
Chief Executive Officer
Your Neighbourhood Credit Union
38 Executive Place
Kitchener, ON N2P 2N4
519.804.9190 ext. 612
khadad@yncu.com 

[Edited July 1, 2015]

CN (London) Credit Union and Your Neighbourhood Credit Union announce merger Expand/Collapse

For Immediate Release --
CN (LONDON) CREDIT UNION  and YOUR NEIGHBOURHOOD CREDIT UNION ANNOUNCE THAT THEY WILL BE JOINING

APRIL 4, 2014 - The Boards of Directors of CN (London) Credit Union (CNCU) and Your Neighbourhood Credit Union (YNCU) today announced that they have agreed to join together in a merger to offer better services to their members. 

CNCU serves over 1275  members including current and former employees of CN Rail, VIA Rail, AllStream Canada and their families, and operates one branch in London; they hold approximately $8.3 million in assets. YNCU currently serves approximately 37,000 members, and operates 17 branches across Southwestern Ontario (Kitchener, Waterloo, Cambridge, Brantford, Paris, Mitchell, Sebringville, Stratford, Shakespeare, Windsor, LaSalle, Guelph, Woodstock, and London) with over $900 million in assets.
 
This merger will mean CNCU will become an open bond credit union, welcoming all members of the community to bank with them. 

“What a great opportunity this is for our members to join with a partner who shares our values and approach to doing business,” said CNCU Manager, Cindy Gelinas. “We’ve seen the way Your Neighbourhood Credit Union operates and we know we’ve found the right fit for our staff and our membership. We’re not just joining something bigger, but something we can help to make better. What a great step forward in a long and loyal history for CN Credit Union.”

Your Neighbourhood Credit Union’s Chief Executive Officer Kerry Hadad said, “It is an honour knowing that the Board and management of this fine organization looked into the future and saw us as their partner in delivering co-operative banking.  We look forward to learning from them and growing with them. This agreement cements our dedication to providing friendly, professional services to members in London and beyond.”

Subject to the normal conditions of due diligence, regulatory and membership approval, the agreement is anticipated to close on October 1, 2014 and will operate under the name of Your Neighbourhood Credit Union. The CNCU branch will remain in its current location.

For further information, please contact: 

Kerry Hadad
Chief Executive Officer
Your Neighbourhood Credit Union
38 Executive Place
Kitchener, ON N2P 2N4
519.804.9190 ext. 612
khadad@yncu.com 

BOOMERANG CREDIT UNION and YOUR NEIGHBOURHOOD CREDIT UNION APPROVE MERGER Expand/Collapse

October 24th 2013 - On Wednesday October 23rd 2013, a unanimous vote by the members of Boomerang Credit Union was the final step in moving forward with their partnership with Your Neighbourhood Credit Union.

“Boomerang Credit Union’s priority is serving our members. Our partnership with Your Neighbourhood Credit Union will enable us to provide our members with meaningful product and service enhancements and provide greater opportunities for growth and development for our staff,” says Boomerang Credit Union CEO Lew Figol.

Your Neighbourhood Credit Union’s Chief Executive Officer Kerry Hadad said, “This is a great partnership between two like-minded organizations. Coming together now makes sense for an increasingly mobile membership, and strengthens our ability to serve members across southwestern Ontario. The people at Boomerang have demonstrated creativity and the utmost member focus, and that makes this agreement such a good thing. We’ll both be better.”

In 2010, Boomerang changed from London Civic Employees' Credit Union to a community bond and rebranded to Boomerang; they serve 3,700 members from their downtown London branch and hold $50 million in assets. Your Neighbourhood Credit Union currently serves approximately 32,000 members, and operates 16 branches in Kitchener, Waterloo, Cambridge, Brantford, Paris, Mitchell, Sebringville, Stratford, Shakespeare, Guelph, Windsor and LaSalle, with $850 million in assets.

The London branch will operate under the name of Your Neighbourhood Credit Union. The merger will close on December 1, 2013.

BOOMERANG CREDIT UNION and YOUR NEIGHBOURHOOD CREDIT UNION ANNOUNCE MERGER Expand/Collapse

AUGUST 1, 2013 - The Boards of Directors of Boomerang Credit Union and Your Neighbourhood Credit Union today announced that they have agreed to pursue a merger of the two financial institutions. 

“Boomerang Credit Union’s priority is serving our members. Our partnership with Your Neighbourhood Credit Union will enable us to provide our members with meaningful product and service enhancements and provide greater opportunities for growth and development for our staff,” says Boomerang Credit Union CEO Lew Figol.

Your Neighbourhood Credit Union’s Chief Executive Officer Kerry Hadad said, “This is a great partnership between two like-minded organizations. Coming together now makes sense for an increasingly mobile membership, and strengthens our ability to serve members across southwestern Ontario. The people at Boomerang have demonstrated creativity and the utmost member focus, and that makes this agreement such a good thing. We’ll both be better.”

In 2010, Boomerang rebranded and changed from serving only London civic employees to a community bond; they serve 3,700 members from their downtown London branch and hold $50 million in assets. Your Neighbourhood currently serves approximately 32,000 members, and operates 16 branches in Kitchener, Waterloo, Cambridge, Brantford, Paris, Mitchell, Sebringville, Stratford, Shakespeare, Guelph, Windsor and LaSalle, with $800 million in assets.

Following approval by Boomerang’s membership, the London branch will operate under the name of Your Neighbourhood Credit Union. Subject to the normal conditions of due diligence, regulatory and membership approval, the merger is anticipated to close on January 1, 2014.
 

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