Southern Ontario Credit Union Creates Canadian First In Internet Account Service, Introduces DUgood CSR And Better World GIC And Rebrands
TORONTO, April 23, 2014 /CNW/ - DUCA, the Southern Ontario credit union, is celebrating its 60th Anniversary by introducing a new look, an industry-leading online service innovation, a new community investment program and a new ethical investment product.
At the Annual General Meeting that took place Saturday, April 12 in Toronto, DUCA President & CEO Richard Senechal said, "The spirit of leadership, innovation and giving back to our community is embedded into the very fabric of DUCA. Throughout the past 60 years, all our community leaders have added that secret, special ingredient that has made DUCA much more than a bank."
Also at the AGM, DUCA's members overwhelmingly approved a change to the cost of a membership share in order to attract a younger demographic. New members can now purchase a share for just one dollar ($1), a significant reduction from the previous $50 cost.
DUCA has 15 branches across Southern Ontario and more than 42,000 Members. Started in 1954 when a group of Dutch Canadians saw the need for a financial co-operative that would work to the benefit of its Members, DUCA continues to live its 'people helping people' philosophy today.
Fully online account application - a Canadian first
DUCA has launched Canada's first 100% online service to Members: SNAPP. No other Canadian credit union allows new Members to sign up online without instigating a visit into the branch or the need to mail in documents. People can apply online using a desktop or tablet computer or a mobile phone. SNAPP is an online application that lets new Members open a DUCA account and apply for products and services including:
It verifies identity electronically and provides logic to simplify and expedite lending decisions. The process is simple, secure, and can be completed in less than five minutes with no more information than that which is usually necessary to open any bank account. SNAPP was implemented in early 2014 and already, DUCA is seeing record Membership growth.
New ethical investment fund reinforces commitment to CSR
The company has recently branded its corporate social responsibility (CSR) program: 'DUgood'. The strategy is to focus on working with organizations that are closely aligned with DUCA's vision and to maximise impact and make best use of donated dollars.
In the coming year, DUCA will donate four per cent of profits to the community, as it has for many years. With its new partnership with the Ontario Credit Union Charitable Foundation (OCUCF), DUCA will commit an estimated $500,000 that will be distributed by OCUCF to charities through the DUCA Community Investment Fund.
In addition to 'DUgood', the credit union has launched a new Guaranteed Investment Certificate (GIC) that provides socially, environmentally and ethically responsible ways for Members to invest their money.
The Better World GIC is a 100% guaranteed investment that allows investors to diversify portfolios by investing in companies which have been carefully selected for their outstanding commitment to the environment. Better World GIC features:
New branding reflects innovations
DUCA's new 'more' brand reflects this ethos; helping people achieve more with their money; helping them be more, and do more with their lives. The new tag line, 'bank on more' uses a clever double entendre to reaffirm the credit union's core values of putting people before profits and doing what's right for Members.
The new look and feel and brand strategy was developed by Lucidia, Northern Ontario's largest marketing agency, and was rolled out earlier this year. Lucidia is DUCA's agency of record.
About DUCA:
DUCA was formed in 1954 by a group of Dutch Canadians who saw the need for a financial co-operative that would benefit Members. The credit union's founding philosophy of 'people helping people' has been a touchstone in every chapter of its story. It has taken DUCA from a single branch credit union in Toronto to 15 branches across Southern Ontario and more than 41,000 Members.
DUCA lives its 'people helping people' philosophy in every financial transaction, product, rate and community initiative. DUCA's profits are divided among each Member through the Get More Bonus Share program. It offers competitive rates that rank among the best in the banking business and its fees are among the lowest. The DUgood community philosophy contributes in meaningful ways to local, national and international initiatives.
About Lucidia:
Lucidia, Northern Ontario's largest marketing communications agency, opened its doors in 2001 in Sault Ste. Marie to provide digital marketing services. Since then the company has grown to a 30-person agency with a second office, in Toronto, to provide a broad range of marketing and communications services including strategy development, creative services, web and application development, traditional and digital advertising and content marketing.
Image with caption: "DUCA (CNW Group/DUCA)". Image available at: http://photos.newswire.ca/images/download/20140423_C4620_PHOTO_EN_39505.jpg
SOURCE: DUCA
Media contact:
Maxine Patenaude
Consultant
Thornley Fallis Communications
[email protected]
416-515-7517 ext. 245
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