The WFCU Credit Union is expanding across Ontario.
The WFCU Credit Union has announced that the membership and shareholders of Rapport Credit Union have voted in favour of joining the Windsor-Essex-based credit union.
As part of the agreement, Rapport Credit Union is now operating as Rapport-A Division of WFCU Credit Union, with all Rapport staff retaining their jobs and becoming employees of WFCU.
Eddie Francis, WFCU Credit Union President and Chief Executive Officer, says Rapport Credit Union's head office and base are out of the Toronto area.
"With outlets and retail outlets in Kakabeka Falls, Thunder Bay, North Bay, Midland, Peterborough, Oshawa, Kingston, Hamilton, and a couple of locations in Toronto. So they will now be part of the WFCU family, which means now we're serving 80,000 members across the province of Ontario," he says.
Francis says this provides them greater reach with being in 24 communities now.
"It provides the ability to deliver to our members better products, better rates, and better services in a way that our members want. Our members want the most competitive products at the most competitive rates and deliver in the best possible way. To do that, you need scale, you need size, and you need to be able to have a wide footprint. That wide footprint allows us to achieve that today," he says.
Francis says WFCU now sits at nearly $5.6 billion in assets.
This latest expansion follows an announcement in March of 2023, when London-based Health Care Credit Union voted to join WFCU.