Education Credit Union

Banner - Education Credit Union Joins Operations with WFCU Credit Union becoming ECU – A Division of WFCU Credit Union


October 1, 2020

Dear ECU Members,

On behalf of the Board of Directors, Executive Team, Management and Staff, I would like to express our sincere thanks to the entire membership of Education Credit Union for having the confidence in both of our respective organizations to bring a new direction to life.
You have our promise that the rich history of outstanding service; the financial well-being of our members; and the deep-rooted practice of giving back to the communities we serve will remain central in everything we do.
On October 1, 2020, we begin a new and exciting chapter as a combined credit union. With this milestone, we are thrilled to be sharing with you our new look, feel and brand as we seek to elevate our presence in the communities of Cambridge, Kitchener and Waterloo.

Our new name ECU – A Division of WFCU Credit Union, will reflect our new identity under which Education Credit Union will be known moving forward. For your reference the below link details the care and consideration that inspired the development of our new logo and brand, but more importantly it explains how we have been able to capture and remain true to Education Credit Union’s rich history and ties to our members within the Cambridge, Kitchener and Waterloo region.

Through our new shared purpose, we are committed to being the partner we assured you we would be; earning your trust as your financial institution of choice. We will provide you with easy and convenient access to readily available full-service banking products and services; all found in one place at the most competitive rates and delivered in the most convenient, easy and hassle-free way.
As we begin this new chapter with you, we are committed to delivering the best service in the most convenient and competitive way helping you to meet, reach and exceed your financial goals. We will cooperatively expand our retail and commercial footprint in the Cambridge, Kitchener and Waterloo region, making it more convenient for our members to conduct all of their financial business with us. We are eager to do more for you and to deliver more to our members and our communities to ensure that ECU – A Division of WFCU Credit Union is your primary and preferred financial institution.

Coming Soon:
As a member, you can expect to benefit from some of these new and exciting product and service offerings which will be made available to our members over the coming months:

Better Rates
We offer better rates on loans and you can earn more on your deposits compared to other financial institutions.

Communities Come First – More Giving Back
Expect to see greater community engagement through our Inspire program, which has invested $17.8 million back into the communities we serve over the past five years by providing scholarship opportunities for the youth of our communities, and programs designed to engage, entertain and educate while nurturing opportunities for our community to come together.

Our Mortgages Have Better Rates and Features
Innovative products like our MortgagePlus, offers you Low Rates and Same Day Approvals in addition to other market leading benefits of guaranteed rates and prepay options.

A Better Everyday Chequing Account
Our EVA™ Chequing Account transforms the traditional chequing account by including unlimited transactions with a suite of value- added products. Your EVA Debit Card makes your day to day life easier, more convenient and rewarding! With the use of your EVA Debit Card you receive, unlimited debits, credits, ATM withdrawals, POS purchases, deposits/transfers, and Interac® e-transfers.

EVA Added Features
In addition to the above benefits, your EVA Debit Card provides you with unlimited banking, extended warranty, price protection and buyer protection that could save you hundreds of dollars each month.

Card Services
Access to industry leading card services, including a full suite of Mastercard® cards. Access your account information 24/7 to check current balances, view eStatements, and more.

Auto Finance & Leasing Services Team
With an auto loan from us you’ll receive low rates, quick approvals and attractive payment options on all makes and models and available for new or used vehicles.

More Convenient Ways to Bank
Advanced technology capabilities including digital products and e-banking solutions will allow you to do your banking when and where it’s most convenient for you. Like our Xpressloan™, an easy and hassle-free way to get an online loan in minutes.
A live staffed Member Contact Centre which provides live telephone banking services during regular and extended service hours.
A new, increased, and expanded branch network that will offer you more modern and convenient access to financial services across the Kitchener, Waterloo, and Cambridge communities.

Wealth Management
Stable, reliable, trustworthy, Advisors, Planners and Wealth Consultants are at your beckon call. Mike, Sandy, Kay, Matt, Angela and Ali, are dedicated to meeting your needs. We are your premier, locally-operated wealth management partner providing you with market-leading investment offerings, retirement, estate and investment planning services.

A Wide Range of Business Services
Through our Small Business & Commercial Services you have access to the largest and most experienced team in the region, focused exclusively on helping you grow your businesses and realize your commercial opportunities and potential.

These are some of the many benefits we are excited to share with you as a member of the new ECU.
As with any change and growth there will be many steps along the way that require our collective patience and support. Our team of familiar faces and trusted relationships remains ready to serve you with your everyday banking needs as well as all things financial. We are committed to do our best to celebrate this transition as seamlessly as possible, minimizing the disruptions and missteps where possible, while keeping you informed of the most current news, as well as, evolving product and service offerings from ECU – A Division of WFCU Credit Union.
In the meantime, please know that the staff member that helped you yesterday is still here and willing to help you today. We are growing, we are excited, and we are eager to share this new beginning with all of you. We ask that you please contact your branch to confirm the current contact information we have on file for you is up-to-date and to offer us your ideas or suggestions; and should you have any questions we will be more than pleased to address them.

I encourage you to visit or please reach out to me directly at and I would be happy to address any questions you may have.


Eddie Francis
President & CEO
WFCU Credit Union | ECU – A Division of WFCU Credit Union

Gary Renouf
Vice President, Strategic Development
WFCU Credit Union | ECU – A Division of WFCU Credit Union

August 26, 2020

Education Credit Union Members Vote Overwhelmingly in Favour of Joining Windsor Family Credit Union

On August 26, 2020, a Special Meeting of the Members and a Special Meeting of Class B Investment Share Holders was held virtually. These meetings were held to announce the results of the vote for our proposed partnership with WFCU. We thank all of those who attended this virtual meeting and all of those who took the time to exercise their right to vote.  

Education Credit Union is happy to announce that our membership has voted loudly and clearly with over 91% in favour of our union. Our Investment Share Holders voted in favour by a 98% margin. Through the dedication of our hard-working team, we have had a historic turnout with our newly implemented online voting process with over 700 members voting online and by proxy. “This fantastic voter turnout demonstrates that our members are engaged and recognize the changing credit union landscape,” says ECU CEO, Gary Renouf.

 “The overwhelming vote of confidence that the Board received from the membership verifies that the vision and direction pursued by the directors is fully supported by our members. The future financial well being of our members is further enhanced as we move forward in this highly technological landscape that is ever changing and expanding, with a partner that is a leader in the credit union system ” stated  ECU Board of Directors Chair, James McCormack.

“We appreciate the hard work and dedication of ECU Chair, James McCormack and the Board, CEO Gary Renouf, Management and all ECU Staff to move this forward,” stated Marty Gillis, Chair, WFCU Credit Union Board of Directors.  “We are honoured to bring our teams and Memberships together and to provide the best products and services to our regions.” 

“On behalf of WFCU Credit Union I want to express my thanks to the members of Education Credit Union for having the confidence in both Education Credit Union and WFCU Credit Union to proceed with this partnership,” said Eddie Francis, President and CEO, WFCU Credit union. “Our shared vision and motivated desire excites us about the opportunity to come together to strengthen both of our credit union’s cooperative positions. Together we will grow stronger, bringing our members a wider range of market-leading banking options, and further assisting our members in meeting, reaching and exceeding their financial goals.”

We thank you for your continued commitment and support of ECU. If you have any questions, we encourage you to please reach out to any of our staff members or send an email to

May 5, 2020

From the desk of Eddie Francis, President and CEO, WFCU Credit Union

Dear Members,

It is with great excitement and shared optimism that WFCU Credit Union has entered into a letter of an intent to join with Education Credit Union.

Both credit unions are rooted in a rich history of service to our members and believe in giving back to the communities that we serve.  Selecting a credit union partner, that is driven by the same principles and with whom you feel your own credit union can thrive with is no easy task – it is one which both WFCU and ECU have resolved after many months in the search for a real and purposeful partner. The joining of both organizations will support and encourage ECU’s desire to expand and improve their product and service offerings for the benefit of their members, staff, and the communities they serve, while maintaining their rich history, identity and commitment to the Kitchener-Waterloo/Cambridge community.

We are honoured to have been selected as a partner for ECU.

Like ECU, we are built on the cooperative values, where the financial well-being of our members and community are central to everything we do; and for the past 80 years we have expanded our services to our members and their communities. We are excited about the opportunity to join with ECU, recognizing together we will be able to grow stronger, bringing our members a wider range of market-leading banking options that will allow them to meet, reach and exceed their financial goals.

We are committed to being the partner ECU is seeking, and to grow with ECU, to help them continue to fulfil their mission of service to their members, employees and community by providing immediate access to:

  • New and advanced technology capabilities which included a full suite of digital products and e-banking solutions;
  • New and expanded service divisions and competitive products including AUTO Finance & Leasing Services, Broker Services, Insurance Services, Municipal Services, Card & Payment Services, Small Business & Commercial Services, and Wealth Management Services through Avanti Wealth;
  • Innovative products like our Mortgage Plus that offers low rates and same day approvals; easy and hassle free Xpressloan; and our EVA chequing account, which provides unlimited banking, extended warranty, price protection, buyer protection, unlimited banking, and our Perks Plus rewards program;
  • A Member Contact Centre which provides live telephone banking services during regular and extended service hours;
  • New and increased branch network for members to access services across the Kitchener-Waterloo/Cambridge community;
  • Enhanced employee benefits and career offerings; and
  • Inspire – our community engagement program which has invested $17.8M back into the communities we serve over the past five years providing engaging, entertaining, educational and scholarships opportunities for the community to come together.

Our shared vision and motivated desire excites us about the opportunity to come together to strengthen both of our credit union’s cooperative positions, but equally important is that our shared partnership is one in which ECU’s identity and remarkable history of serving the needs of their members and community is preserved and celebrated while providing us an immediate opportunity to provide better value, better service, and better positions us to do more for our members, staff and the communities we serve.

Please, take some time to learn more about WFCU by visiting our website at, and if you have any questions about our credit union or the proposal to join please reach out to me directly at and I would be happy to address any questions you may have.

I would like to thank you for taking the time to consider the proposed intent to join and hope that you, like your ECU Board, will see WFCU as a partner you can put your trust in.


Eddie Francis
President & CEO
WFCU Credit Union

April 28, 2020

From the desk of Gary Renouf, President and CEO, Education Credit Union

Education Credit Union (ECU) is excited to announce to you that we have signed a Letter of Intent to join our operations with WFCU Credit Union (WFCU) for the benefit of our members and employees; and to further strengthen our financial and cooperative position.

At our last strategic planning meeting, the ECU Board and Management team recognized our need to partner with an organization who could help us expand and improve our product and service offerings in order for us to remain current and competitive in the changing marketing of digital and online banking.

After a lengthy search and many discussions, we have decided that WFCU is the partner we believe can enhance and improve all aspects of our business and help us continue to fulfill our mission of service to our members.

Like ECU’s long history of supporting employees of the education system, WFCU has a proven track record of supporting not only employees of the automotive industry but employees and owners alike in a multitude of industries, including agriculture, manufacturing, professional, institutional, non-profit, small business, healthcare, education and more. 

The commonality of our two credit unions is our culture and desire to put our members and communities first.  To do this we know that our credit union must ensure advancing technology, growing and diversifying our membership, expanding our product and services, and maintaining financial stability while increasing efficiencies, are priorities. 

In joining together with WFCU, we know we will be able to provide:

  • Greater product and service offerings;
  • Improved technology capabilities;
  • Increased competitiveness and expansion possibilities leading to increased profitability; and
  • Improved employee benefits and career offerings.

And we will be able to do all of this, while maintaining ECU’s identity and preserving our long and strong history of serving the needs of our members in the education sector and beyond.

It was very important to us during our search that the credit union we chose to partner with acknowledged and respected our history and were willing to have our voices heard. In that regard WFCU has assured us that our concerns will continue to be heard by changing their by-laws to accommodate, at the minimum, a regional director elected from the Waterloo region; and in addition, with regulatory approval, ECU will choose a name moving forward that will continue to reflect our history and values.

This is an exciting opportunity and an excellent strategic fit for both credit unions as it will provide additional branch locations for our members and add expanded delivery channels for all education employees, members, and their families.

Over the next several weeks we will finalize the agreement and discuss the many facets of our joint operations. We can assure you that WFCU has approached this as a partnership to benefit both organizations and that our members, like their own, are their main priority.

Following due diligence, we will be asking you, our membership, for your vote and support in favour of approving the proposed joint operations.

We thank you for your continued commitment and support of ECU. If you have any questions, we encourage you to please reach out to any of our staff members or send an email to

About WFCU

click here to learn more about WFCU Credit Union click here for more information about our products

Recognized as a leading, progressive, financial institution headquartered in Windsor and Essex County, WFCU Credit Union has been proudly serving Ontarians since 1940.

As the sixth largest credit union in Ontario, and twenty-fifth largest credit union in Canada, operating nine retail locations and a digital branch, their foundation was built on providing Ontario residents, community organizations, small businesses, commercial entities and public institutions with the highest quality and most progressive financial products and services.

What sets them apart, beyond their superior customer service, is the variety, reliability and flexibility of the additional financial products and services they offer including divisions dedicated to Municipal Services, Commercial Services and Small Business, Auto Finance & Leasing, Card Services, Insurance Services, Investment Services and Wealth Management Services available through Avanti Wealth

In addition, WFCU Credit Union also operates WFCU Real Estate Corporation, a subsidiary of WFCU Credit Union which invests in commercial real estate as a means to stimulate economic development across Ontario. WFCU’s digital branch operates exclusively online, their digital branch, operates exclusively online and offers residents outside of Windsor-Essex County access to the superior financial products and service their members receive in branch every day.

Through these various divisions, in combination with online and mobile banking, telephone banking, and ATM services, WFCU Credit Union offers their 48,750+ members convenient banking options to fit their lifestyle and help them achieve their financial goals and currently, has $5.2 billion in Managed Assets.

Open to anyone living or working in Ontario, WFCU Credit Union always puts their members and the community first. Over the past 5 years WFCU Credit Union has given back or invested more than $17.8 million in the community, and they make it their priority to remain market-leading in the products, services and technology they deliver to their members.

At WFCU Credit Union, you’ll never be just a number, you’re a part of their family.

For more information on Education Credit Union please visit their website.


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