aboutMission & Vision

It is the mission of Dundalk District Credit Union to enhance the financial well-being of our members, while maintaining high standards of sound business and financial practices. 

Dundalk District Credit Union is guided by its vision of becoming the preferred choice for financial products and services in our community.

What is a Credit Union?

A credit union is a type of financial institution with a very important distinction – it is controlled by its member/owners.

These members elect their own Board of Directors based on a single vote per member system, regardless of the size of a member’s deposits or total portfolio. The elected Board of Directors determines the credit union’s policies governing operations.

Credit unions offer their members credit at competitive rates, along with a wide variety of other financial services. Many credit unions also provide services supporting local community development.

Globally, credit unions vary significantly in terms of total assets and size. They can range from volunteer operations with a handful of members to institutions with assets worth millions or billions and very large memberships.

As “community-oriented” institutions, credit unions serve their people and strive to be profitable in order to share their success among their membership, often in the form of dividends. Customer surveys have consistently shown a significantly higher customer satisfaction rate related to service quality among credit union members versus bank clientele.

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Why Join?

• You own a piece of the credit union – the refundable share you buy when you join makes you both a member and an owner!

  • You have a voice – Unlike the big banks, your share means you can run for the Board, have a say in the operation of the credit union, and how we serve our members.
  • Lower service fees – Credit unions generally offer lower service fees, which make your everyday banking more cost effective!
  • Local decision-making – Your credit union is part of your local community. Decisions are made here, not in a huge Bay Street skyscraper. Plus you are dealing with someone that you know.
  • 24/7 Banking – Visit your local branch or use self-serve options like the ATM, or online banking.
  • Community Support – We donate a portion of our pre-tax profits to local charities and organizations each and every year.
  • You share the profits – Credit unions can declare dividends, which means we pay you a rebate on our profits!
  • Deposit Insurance – Eligible deposits up to $100,000 at Dundalk Credit Union are insured by the Deposit Insurance Corporation of Ontario.
  • Join the millions that do it – More and more people are banking the credit union way… Last year, over 1.7 million people in Ontario were members of a credit union!
  • We put service first – Credit unions repeatedly rank first for branch service and overall excellence.
  • We put your needs first! Our friendly, knowledgeable staff loves to help! Not sure about something? Just ask us!
  • Accounts to suit everyone! Whether you’re under 18, an adult or a senior, we have an account that will work for you!
  • Personal and business banking – No matter what your needs may be, we can help. We’ve got it all right here at Dundalk Credit Union with services such as commercial and agricultural loans, mortgages, personal loans, and investments!
  • Teaching your children the value of money – We’ll work with you to help teach your children the basics and kick start their financial future.
  • We know your name – It’s part of our focus on personalized service.
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History of Dundalk Credit Union

A charter was granted to the Wareham Credit Union on April 26, 1943 with twenty charter members – fourteen men and six women.

Two months later, the office was moved to the Co-op building in Dundalk.

In 1945, the name of the Credit Union was changed from Wareham to Dundalk. That same year, Dundalk was the first credit union in Ontario to offer chequing services to members and maximum loan limits were raised from $100.00 to $250.00

 In June 1959, Dundalk District Credit Union Limited reached its first million dollars in assets. In the early 1960’s the present day Dundalk office building was erected. In 1986, the credit union installed its first computer system. A night depository was installed in 1990 and we purchased the property at the rear of the credit union building in 1991 in order to provide more parking for members. The McMillan furniture building (south of the existing credit union) was purchased in the late 1990’s to expand the Dundalk building to accommodate additional offices and a boardroom. A drive-thru ATM, debit cards, and on-line banking services were also introduced around this time.  In 2007, the credit union expanded again by opening a second location in the Feversham area.

The credit union was originally formed as a co-operative to assist local farmers by providing credit when needed to operate their farm businesses. Agricultural credit remains a large part of the credit union’s business to this day, but over the years Dundalk has expanded to offer full service to commercial and personal account holders too. Today Dundalk Credit Union serves a membership of over 3000 with assets of approximately $39,000,000.00.

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