Blog
1
Posted September 2, 2009 in Blog by Ryan

Waterloo used to have a credit union

Waterloo actually used to have its own credit union. In 1965 professors and employees of the university got together and started the University Faculty & Staff (Waterloo) Credit Union.

According to the Daily Bulletin, the credit union had 715 members and $2.1 million in assets in 2000, when it merged with the Waterloo County Education Credit Union, which started serving local teachers in 1972.

The Education Credit Union has had a branch at the UW R+T Park since 2007, where it offers surcharge-free ATM services, even to customers from other banks. The ECU’s headquarters is at the public school board offices in Kitchener.

Megan and I have met with both the credit manager and the CEO of the Education Credit Union to learn more and get advice from them. I expect we’ll be talking to them more in the future.

1 Comment to “Waterloo used to have a credit union”

  • james
    September 10, 2009 at 2:40 pm

    yo i don’t think this will work cause what are you gonna offer me that cibc does not?

    and cibc is already on campus.

Random Testimonial

  • ~ Which factors affect credit scores?

    "Here is a website that presents the info relatively easy and not too boring: http://www.alberta-mortgages.com/articles/credit-bureau.html Also, you can get a free credit report at http://www.consumer.equifax.ca/home/en_ca. From alberta-mortgages.com:

    Here are the factors considered when calculating your credit score and an estimate of how heavily each factor might be weighted.

    » Past payment history (35 percent): bankruptcies, late payments, past due accounts and wage attachments
    » Amount of credit owing (30 percent): amount owed on accounts, proportion of balances to total credit limits
    » Length of time credit established (15 percent): time since accounts opened, time since account activity
    » Search for and acquisition of new credit (10 percent): number of recent credit inquiries, number of recently opened accounts
    » Types of credit established (10 percent): number of various types of accounts (credit cards, retail accounts,"

  • Read more testimonials »