Notice regarding Membership Due Charge

You may have noticed a $5.75 deduction for dues on your account. This deduction allows your credit union to be a member of Credit Union Central of Ontario and part of a large network of credit unions in Ontario and across Canada.

Credit Union Central of Ontario (Central) is a financial and trade services organization that assists credit unions in providing quality services and products to their members.

Through our membership in Central, we participate in the INTERAC®, THE EXCHANGE® and PLUS SYSTEM networks, which allows you to use automated teller machines around the world. As members of Central, we are also part of the Canadian Payments Association, the body that governs the clearing and settlement of cheques and electronic financial transactions in Canada. Through Central, our membership makes us part of a national and international network of financial and co-operative organizations. Among the services we receive are Market and Product Development, Government Relations and Member Services.

As the system central banker, Central also provides a variety of financial services such as deposit and lending services, asset/liability management, risk management, current account services and cheque clearing. Through Ontario and Canadian Centrals, we are part of a national liquidity pool that helps ensure the security and stability of our credit union.

Together, the services offered by our Central are helping credit unions increase their competitive advantage.