The Education Credit Union follows a proud tradition of innovation - underwear shop

Did you know that credit unions are leading the way in financial services? Credit unions have a long and distinguished history inCanada– one that has been defined by innovation and cutting edge technology. In fact, many traditional banks follow the lead set by credit unions when it comes to innovative financial services and new money management techniques.

Unbeknownst to most people, credit unions engineered the first payroll deductions for deposits and loan payments, offeredCanada’s first open mortgages, pioneered the first full-service Automated Teller Machine (ATM) network, structured the first home equity lines of credit and created the very first registered education savings plans. Progressive and outward looking, credit unions also were the first financial institutions inCanadato lend money to women in their own names in the 1960s and the first to issue loans to people based on their personal character.

The Education Credit Union based in the Region of Waterloo is proud to follow the innovative and pioneer traditions set by other credit unions throughoutCanada. With branches situated inKitchener,Waterlooand Galt, the Education Credit Union offers its members a wide range of innovative and convenient services such as no fees to join and ATMs that do not charge fees. The Education Credit Union also offers a range of technological solutions to its members, including banking by telephone, fax, courier, online and through mobile devices. The minimum deposit to open an account at the Education Credit Union is only $5.00 and the institution is run by an elected Board of Directors that holds an Annual General Meeting open to the public.

People looking for innovative financial services should visit the Education Credit Union and speak with one of their service representatives. Details on all the innovative services available can also be found online at

Back to the Education Credit Union profile page.

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