Feversham Branch Closure

Feversham Branch Closure

After careful consideration, the Board of Directors has decided the Feversham satellite location of Dundalk District Credit Union Limited will not reopen.  We appreciate the support our members from that location have shown over the past 16 years and especially following the armed robbery in May that forced branch closure. We sincerely hope that Feversham members will continue to see value in their membership with the Dundalk District Credit Union. 

After reviewing the profitability of the credit union this past year, and setting aside sufficient profits to retained earnings to ensure there is adequate regulatory capital and resources for future growth, the Board approved a distribution of surplus profits to credit union members.

Dundalk District Credit Union is pleased to announce that $250,000 in profits were shared with eligible members in the form of interest rebates, interest bonuses and fee refunds.  The amount members received was based on a percentage of the total actual interest amounts paid to members, and the total actual interest amounts paid by members in our fiscal year ending August 31st, 2023.  The credit union also returned the full amount of monthly maintenance fees paid by members in the fiscal year.

Accounts open as of November 3rd, 2023 were eligible for this rebate/bonus which was paid on November 23rd, 2023.  It pays to be a member of Dundalk District Credit Union.

We understand the inconvenience that is imposed on Feversham members who no longer have a credit union branch in their community. In coming to our decision, we considered implementing enhanced security measures, eliminating cash on site and replacing our Automated Teller Machine with a cash dispenser, all of which are costly changes. We firmly believe it is not prudent to staff the location with only new employees and do not have human resources within our small organization sufficient to distribute between the two locations. 

Our capable staff will be happy to offer alternative solutions, including serving members at the Dundalk location and assisting with using electronic banking services.  We are committed to continuing to support the local Feversham community by offering a cooperative alternative to financial services that gives back to the local community.


This entry was posted in Hours of Operation, Services.