About NDCU - Become a Member and Bank Local

Zippity Do Dog - A unique resource for youth

At Nelson & District Credit Union we believe in “keeping interest local”.

As a member of your community Credit Union you share a common bond, a commitment to keeping interest local. Members that do business with NDCU support the 100 mile theory and contribute to a vibrant community and a dynamic local economy, while insuring decisions are kept local. From community comes strength!

Investing in our local communities promotes practical economic theory: every dollar that remains in our communities has a multiplier effect. By borrowing and investing with your community Credit Union, we can continue to actively support your local economy.

And, your community Credit Union is governed by volunteer directors elected by the membership who together own the institution. Members shape their community Credit Union through ownership, a member share insures that all individuals have equal say in the overall direction of NDCU.

Keeping interest dollars and decision making local makes sense. Logically. Locally.

Democratic Ownership

The fundamental principle of your community Credit Union is democratic ownership -- one member, one vote -- regardless of the amount of shareholding or deposits. You have a voice in your community Credit Union and equal access to all the services it offers.

History

On the day that BC’s first credit union opened its doors way back in 1936 history was in the making. Running a financial institution on the principles of democracy may not seem like a radical idea today, but in the first half of the 20th century, when profit-motivated banks made it difficult for the average citizen to borrow or invest, it was revolutionary. Ever since, credit unions have helped shape the economic and social quality of life in British Columbia. As our history shows, the balance of service excellence, sound financial practices, and a commitment to community has attracted more and more British Columbians over the decades.

At NDCU we have a long history. From cash box to community cornerstone, your community Credit Union has been Nelson, Rossland and the East Shore's local credit union for decades. Based on a history as an alternative to the banks, NDCU has grown from a modest beginning to an innovative, community-based financial co-operative. We believe the key to our success has been our membership.

How Credit Unions Differ From Banks

Like banks, credit unions are full-service financial institutions providing a wide variety of financial services such as banking, loans, investments, and insurance to members from all walks of life - and to individuals, organizations and businesses.

There are, however, key differences.

The first is that the underlying mandate for banks and trust companies is to provide a healthy return on shareholder investments. These shareholders may or may not be customers of the bank...or even live in the same country.

Credit unions, on the other hand, have co-operative values where profits are directed back to the members and the community. Decisions as to how and where these profits are shared are made right here, by local management and by directors that local members elect through a democratic process - another key difference between credit unions and the big banks.

And while responsible money management is the priority, credit unions are justly proud of a reputation for providing superior customer service and a personal touch by local staff who are your neighbours, friends and family members.

Your money is securely protected at your community Credit Union

On November 27, 2008, the Provincial legislature passed amendments to the Financial Institutions Act to provide unlimited deposit insurance protection on all deposits in British Columbia’s credit unions.

For more information: http://www.cudicbc.ca/

What you need to open a NDCU membership

To open an account with Nelson & District Credit Union, you must purchase a $25.00 member share ($5.00 youth share, under 19). This share is redeemable if you were to ever close your account.

We are required to verify your identity, so you do need to come into a branch to open a new account. Here’s what you need to bring – your Social Insurance Number, two valid pieces of identification, one of which must be valid photo ID. You must present the original ID, not a photocopy. Expired identification is not accepted.

At least 1 piece of photo ID, with signature, must be from the following group:

Valid Canadian passport
BC or other Province Driver’s Licence (not interim)
Passport from other country
Government of Canada issued ID:
- Canadian Forces ID Card
- Permanent Resident Card

At least 1 piece of ID, with signature, must be from the following group:

Canadian Birth Certificate
Credit Card (not expired)
BC ID Card issued by: Insurance Corporation of BC (ICBC)
Provincial Health Insurance Card (BC CareCard)
Government of Canada issued ID:
- Certificate of Indian Status Card
- Certificate of Canadian Citizenship
- NEXUS Card

New memberships require address verification; please provide a recent pay stub or utility bill with current address.

Credit checks are required for all new members.

Please call us at 1.877.352.7207 or email us at enrichingyourlife@nelsoncu.com if you have any questions about “Becoming a Member”.

The attached Personal Information Record PDF is a general information request that allows you to present some information on you, to us, in order to help with the member application and registration process. Please drop off this form in person at your community branch of NDCU. Thank you, we look forward to serving you as a future Nelson & District Credit Union member.