Toronto, January 9, 2009 – With many financial institutions trying to weather the financial crisis, DUCA Financial Services Credit Union Ltd. celebrated another successful year by sharing over $6.3 million of its profits in Bonus Shares or cash. The latest issue has increased the total number of Bonus Shares distributed to almost $48 million since 1999. DUCA’s success is based on customer-focused service and competitive interest rates. These simple values are enhanced through the Bonus Share program.
“DUCA’s conservative business model shielded us from much of the risk to which other financial institutions have been exposed.” said Jack Vanderkooy, DUCA’s President & CEO. “Due to prudent lending practices, our organization is in an excellent position to move forward. We like to celebrate our success with the members who have made it possible.” As a credit union, all members are considered owners, a unique feature when compared to banks.
"We want our members to be satisfied with DUCA’s brand of banking. We want them to feel taken care of at our branches or through the Internet." continued Vanderkooy. "We offer full banking services for everyone. We then reward them for banking with us through the Bonus Share program. It is a distinctive way to promote customer loyalty."
DUCA was founded in 1954. Since then it has grown into a full service financial institution, offering banking alternatives through a variety of channels. These include the Internet, ATMs, the telephone and a network of 12 branches in the greater Toronto area. In 2008, its membership grew to more than 35,000. DUCA’s assets increased by 5% in 2008 to $885 million. DUCA offers outstanding service, solid results and exceptional value. More information on DUCA can be found at www.duca.com.
For more details on this press release, please contact Jack Vanderkooy, President & CEO, at (416) 223-8838 x 253.