DUCA Financial Services Leads New Partnership with Kindred and Your Neighbourhood Credit Union to Promote Fair Banking in Canada
TORONTO, Nov. 13, 2024 /CNW/ - DUCA Financial Services Credit Union Ltd., alongside its non-profit subsidiary, The DUCA Impact Lab, is proud to announce the formation of a groundbreaking collaboration with Kindred Credit Union and Your Neighbourhood Credit Union. This partnership is committed to developing banking solutions that cater specifically to the needs of Canada's underbanked populations.
The initiative marks a significant step forward in the creation of equitable financial services that challenge conventional banking methods. This partnership will concentrate on ideating, implementing, and funding alternative banking models that meet the unique needs of the underbanked while also promoting fairness and inclusivity in financial access.
All partner Credit Unions involved will actively support and raise awareness of The DUCA Impact Lab's Escalator Loan pilot program. This initiative is specifically designed to help vulnerable Ontarians escape the cycle of predatory debt by providing fair, accessible loan options. More information about the Escalator Loan program can be found at DUCA Impact Lab Escalator Loan.
As the founder of the DUCA Impact Lab and the leader of this collaboration focused on pursuing banking solutions for the underbanked, DUCA Financial Services Credit Union Ltd. is also recognized as the first B-Corp certified Credit Union in Canada, reflecting its commitment to higher standards of public transparency, legal accountability, and verified social and environmental performance. DUCA is honored to partner with Kindred and YNCU, both recognized as certified B-Corps, demonstrating our collective dedication to higher standards and positive community impact.
For more details on the partnership's initiatives and broader information about how DUCA is making a difference, visit DUCA Doing More.
About DUCA:
DUCA Financial Services Credit Union Ltd. was founded in 1954 and has grown into a hub for innovation in community banking, serving over 95,000 members across Ontario. DUCA's mission goes beyond banking to include a broader commitment to building a fairer world by unlocking the potential of everyone in the community.
About Kindred Credit Union:
Kindred Credit Union is a member-owned financial cooperative based in southwestern Ontario. Kindred's values-centred approach is woven into everything we do and makes us the one-of-a-kind choice for those who want to connect their values and faith with their finances. Kindred offers a complete range of banking, borrowing, and investing products and services through eight branches and online. Members benefit from access to over 43,000 surcharge-free ATMs through THE EXCHANGE® Network in Canada and the Allpoint Network in the US. To learn more about Kindred, visit kindredcu.com.
About Your Neighbourhood Credit Union:
With 17 branches and a network of surcharge-free ATMs, Ontarians can access financial services close to home across southwestern and northern Ontario. At $2.5 billion+ in assets under administration and 53,000 members strong (and growing!), YNCU is one of the largest credit unions in Ontario. As a community-based organization, not only do YNCU's partnerships and investments make a difference, its employees live and work in the communities they serve. YNCU's foundation is built on connectedness to the communities where it operates. Yearly the organization sets aside a minimum of 1% of the pre-tax profit earned by the credit union in the previous fiscal year to be used for charitable organizations and associations that share its focus on improving our communities. Together with its members, employees and community partners, YNCU is helping to make life better in the places Ontarians live, work, learn and play!
SOURCE Duca Financial Services Credit Union Ltd.
Media Contacts: DUCA Financial Services Credit Union Ltd., Pippa Nutt, Chief Marketing & Member Solutions Officer. 416-570-6494, [email protected]; Kindred Credit Union, Frank Chisholm, Director, Brand and Marketing, Kindred Credit Union, 519.746.1010, Ext. 5211, [email protected]
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