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DUCA Economic Expert services Credit rating Union Ltd. (DUCA) Announces Merger of Functions with United Staff Credit history Union Minimal (United), Subject to Approaching United Member Vote

TORONTO, Nov. 10, 2023 /CNW/ – DUCA, a dependable and community-targeted economic institution, is enthusiastic to announce its intent to merge functions with United, subsequent modern regulatory approval and pending approval from United Customers. The transaction, if approved by United Users, will convey together two companies with a shared commitment to Member-centered economical products and services and local community assistance.

DUCA Economic Solutions Credit score Union Ltd. has a long-standing standing for giving modern financial remedies and outstanding Member services. United shares comparable values and a commitment to the effectively-currently being of its Users. This proposed transaction aims to leverage the strengths of the two companies to increase total Member practical experience and fiscal properly-staying.

Key Highlights of the Transaction:

Enhanced Member Knowledge: The transaction aims to produce an even greater amount of Member service, leveraging the know-how and dedication of both organizations.

Expanded Arrive at & Footprint:  Customers will profit from an expanded branch footprint that combines United’s places in Leslieville and Mississauga with DUCA’s 17 places across Southern Ontario.

Community Effect: The put together entity will go on to prioritize group involvement and support, reinforcing its commitment to building a favourable variation in the communities it serves and shaping a much better money future for all.

Expanded Resources & Operational Efficiencies: The transaction will help larger operational efficiencies, which will gain Users through price-helpful expert services, enhanced engineering and elevated advantage and accessibility for Users.

This announcement is the commencing of a comprehensive and clear process that will include a vote by the Customers of United to approve the transaction. United Customers will acquire complete details in the coming months, and their voices will be pivotal in analyzing results. DUCA Associates are not required to vote on this transaction.

“We are energized that our Members will profit from an expanded assortment of monetary goods and companies, like aggressive discounts and lending alternatives, prosperity management, company banking and increased electronic banking answers.” reported Yves Ah Chin Kow, CEO of United Workforce Credit history Union Minimal .

DUCA  and United are fully commited to ensuring a smooth transition and sustaining the rely on and self esteem of their Customers through the method.

A member info package will be distributed to United  Associates, detailing gains, impacts, timeline, and voting guidelines.

For much more information and facts and updates on the voting process, please check out https://www.unitedcu.com/.

We are delighted to join forces with United Staff Credit score Union Limited and search ahead to serving our Customers even much better collectively,” reported Doug Conick, CEO of DUCA Money Providers Credit history Union Ltd.

About DUCA Financial Providers Credit rating Union Ltd. :

DUCA Fiscal Providers Credit score Union Ltd. (DUCA) was shaped in 1954 and has grown from a one branch credit union in Toronto to 17 branches across the GTA and Central Ontario with over 87,000 Users they are very pleased to serve.

DUCA ranks 12th in Canada’s Greatest Credit score Unions (CCUA Largest 100 Credit history Unions) by asset measurement with above $7.15 billion in on balance sheet belongings (as of Q2, 2023), and delivers comprehensive banking providers to both of those individuals and businesses on the net, by telephone, cell and in-branch. DUCA also has 1 wholly owned subsidiary with 19 branches, Continental Currency Exchange Canada Ltd. obtained in 2022.

DUCA exists now to enable individuals Do much more, Be much more and Realize far more with their income and their lives. DUCA is also happy to be Canada’s 1st B-Corp Certified (https://www.bcorporation.net/en-us/certification/ ) credit history union.

About United Personnel Credit Union Limited:

Set up in 1944, United Workforce Credit score Union Minimal. was fashioned under the co-operative principles of folks serving to persons. United has assets of around $49 million (as of Q2, 2023) and now serves a lot of worker groups across the GTA which include Canada Article, the Federal Civil Servants, Brewers Retail and Warehousing, Purolator Canada, Colgate-Palmolive Canada, the Independent Buy Foresters (IOF), and the George Weston/Loblaws Team of Providers. United has two branch places that provide approximately 3,000 Customers and offers a array of solutions and providers to accommodate Member’s desires which includes chequing and discounts accounts, GIC’s and expression deposits, loans, and home loans.

Resource Duca Fiscal Providers Credit Union Ltd.

For further details: Media Contact: Pippa Nutt, Chief Marketing and advertising & Member Solutions Officer, DUCA Fiscal Products and services Credit rating Union Ltd., [email protected], www.duca.com