Consumers Beware: Ottawa Federal Credit Union is not a registered credit union in Ontario

TORONTO, Sept. 4, 2024 /CNW/ - Ontario's financial services regulator, FSRA, is warning consumers that a business using the name of Ottawa Federal Credit Union (also known as Ottawa Credit Union or Ottawa Canada Credit Union) is not a registered credit union in Ontario.

FSRA encourages consumers to be careful if they are contacted by or come across the website of Ottawa Federal Credit Union (or Ottawa Credit Union or Ottawa Canada Credit Union) or anyone claiming to be representing this business.

There are potential risks in dealing with unregistered entities. Your deposits are not covered by deposit insurance if made with anyone not registered as a credit union or caisses populaire in Ontario.

Ottawa Federal Credit Union (or Ottawa Credit Union or Ottawa Canada Credit Union) is not on our list of registered credit unions.

Ottawa Federal Credit Union appears to be using the following public contact information:

• Address: 99 Bank Street, Suite 1300, Ottawa, ON K1P 6B9
• Emails: [email protected], [email protected], [email protected]
• Phone numbers: [phone], [phone] (fax)
• Website: https://ottawacu.com/, where the entity appears to be soliciting account services business, including deposits from consumers.

Ottawa Federal Credit Union's website invites consumers to apply for low interest, cash back, travel and business credit cards.

It also offers consumers to obtain personal, home, education, gold, vehicle loans, and open different types of accounts at high interest rates (9% or above), including Individual Retirement Accounts (IRA), a U.S. equivalent of a Canadian Registered Retirement Savings Plan (RRSP).

Make sure to check FSRA's website for the list of all credit unions and caisses populaires registered to do business in Ontario.

Visit FSRA's website to learn more about credit unions and deposit insurance.

Learn more:

FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness and choice for everyone.

Learn more at www.fsrao.ca

For public inquiries, please email [email protected]

For media inquiries:

Russ Courtney
Sr. Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]

SOURCE Financial Services Regulatory Authority of Ontario