DUCA Financial Services Credit Union - Banks vs. Credit Unions

DUCA Financial Services Credit Union offers all the same products and services you expect from a bank. See how many advantages DUCA Financial Services, your credit union, offers over banks and other traditional financial institutions.

1. High Service, Low Charges: DUCA's commitment to service has never left us. What makes DUCA unique is that we provide this high level of service at a low cost. At DUCA, we ensure that your banking experience is pleasant and professional while not costing you a lot in banking fees.

2. Bonus Shares: DUCA's commitment to value is shown in a feature that truly sets us apart from the competition. Since 1999, DUCA has paid a significant portion of its net earnings back to members in the form of Bonus Shares. Members receive Shares based on the interest they paid or received during the previous calendar year.

Example

You paid $4,150 interest on your $100,000 mortgage at 4.15%, and earned $1,500 on your $50,000 RRSP at 3.00%:

Total interest paid (4.15% of $100,000) = $4,150
Bonus Shares issue (10% of $4,150) = $415
Effective mortgage rate = 3.74%
Total interest received (3% of $50,000) = $1,500
Bonus Share issue (10% of $1,500) = $150
Effective RRSP rate = 3.30%

3. Competitive Interest Rates: DUCA strives to consistently have competitive interest rates. With low mortgage and loan rates, and high deposit rates, DUCA's focus is on giving you more value in your banking experience.

Deposit Insurance: The Deposit Insurance Corporation of Ontario (DICO), provides up to $100,000 insurance coverage per member. Registered products such as RRSPs and RRIFs are insured up to $100,000 per contract.