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Goderich Community Credit Union (GCCU)

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Goderich Community Credit Union (GCCU)

Mission statement:

To be a community leader, providing quality services to our members through committed well-managed growth, based on sound financial decisions.

Overview:

The Goderich Community Credit Union is a cooperative, owned and operated by its members. This is what distinguishes a Credit Union from other financial institutions. Members put their money in a variety of savings accounts, and that money, in turn is loaned to members. After operating expenses and reserve requirements, net income is returned to all members in the form of dividends and comprehensive financial services.

A Board of Directors that established and reviews policies governs the Goderich Community Credit Union. The Directors must be Credit Union members who are elected by the Membership for a period of three years. Directors must be willing to participate in the Credit Union Directors Education program.

Member participation in the Credit Union helps promote the sense of community upon which GCCU was founded. Members provide feedback to Credit Union management about requests for new products or services.

Membership in the Credit Union is open to persons residing, employed or appointed within the geographic boundaries of the Province of Ontario and employees of Goderich Community Credit Union.

Joining the Credit Union means you become more than just a person who utilizes the financial services. You become an owner.

To activate a membership, each member/owner is required to purchase Credit Union shares. This is done very simply by depositing $50 (19 years and over) and $20 (18 years and younger) into an "Equity Share" account at the Credit Union. Once these shares have been purchased a member becomes entitled to utilize the Credit Union's full range of financial products and services.

History:

The first credit union in Goderich, St Peter's Credit Union, was formed by parishioners of St. Peter's Roman Catholic Church, with the late Les Pitblado as President.

Many residents of Goderich who were not members of St. Peter's Church were interested in the Credit Union movement. Therefore, a meeting was set by Mr. Pitblado with interested persons, may of whom, were employed at Dominion Road Machinery Company now known as Volvo Machinery Company Limited. An application for charter was signed in the old British Exchange Hotel and a charter for Goderich Community Credit Union was received and dated June 29th, 1954.

St. Peter's Credit Union amalgamated with the Goderich Community Credit Union and the first office of Goderich Community Credit Union was located on East Street.

In the early years, office space was rented, until 1962 when business warranted the Credit Union to purchase its own building at our current location. At the 8th Annual Meeting, Mr. Pitblado was presented with the founder's pin.

For many years the Credit Union occupied one half of this building, renting the remaining space. In the early ‘80s the property immediately to the east of the office was purchased for added parking and the need for more office space was realized. The first of two major expansions took place, renovating to occupy the entire building. In the early ‘90s, once again, growth warranted more office space.

We moved into our newly constructed, beautiful 3400 square foot two storey building in April 1992. It appears much like a large home, complete with shuttered windows, a large front porch with benches, beautiful landscaping and plenty of parking. The design was intended to convey a warm and welcoming feeling and has won awards within our community.

Goderich Community Credit Union currently has more than 5000 members and assets over 50 million dollars.

Asset Under Management: Over 50 million dollars

Toll Free: +1 877 524 4740

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