Download Document 1
Download Document 2
Download Document 3
April 21, 2021
Why are we merging with Frontline Credit Union? This is an excellent strategic fit for our Credit Union as it will further strengthen our long term viability and improve our offering to our membership. We have been under increasing pressures over the past few years to meet a growing regulatory burden, keep up with technology advancements and an ever increasingly competitive environment. Within our small but extremely dedicated group of staff of the Ottawa Police Credit Union we continue to be stretched beyond what is possible and foresee a time when we will no longer be able to satisfy all of our stakeholders. Our vision to provide exceptional banking services and products to our policing family continues to be our main driver. To ensure future sustainability, it only makes sense to merge or be acquired by a larger organization. Our focus now is to chose a partner who will maintain our culture of personal service and commitment, staying local and providing for a brighter tomorrow.
Who is Frontline Credit Union?Frontline Credit Union is an Ottawa based credit union that was established in 1948 under the name of Ottawa Fire Fighter’s Credit Union which was subsequently changed to Frontline Credit Union in 2006. This name change came after merging with other likeminded credit unions which include Ottawa Hydro Employees Credit Union in 2002 and Regional Health Credit Union in 2006. They encompass bonds of frontline workers like Firefighters, Hospital Staff including nurses, doctors, and support staff at all Ottawa area hospitals and hydro workers and their families. Their main branch is located at 365 Richmond Road with a secondary branch (Advice Hub) at the Ottawa Hospital Civic Campus.
Why an Asset Purchase agreement rather than a merger?Mergers are usually arranged when the two parties are of equal size. The Ottawa Police Credit Union is approximately 15% of the size of Frontline Credit Union which makes an Asset Purchase a much more agreeable arrangement.
What will happen to our Branch?The branch at 474 Elgin Street will remain as is with the signage changing to Frontline with a subtitle Ottawa Police Branch.
What happens to our Employees?This has been one of our utmost concerns in the discussions to date with all of our existing staff staying employed within the combined organization for a minimum of two years with salaries and benefits at least equal to their existing levels. The will benefit from an improved vacation allowance, a performance bonus incentive program based on semiannual reviews and personal development plans.
Will we have board Representation in the new structure?Membership on the board of any credit union is open to all members of the credit union. This is one of the strengths of the credit union movement and will continue to be the case for the foreseeable future. We have managed to secure one dedicated seat which will be filled by one of our existing board members for a minimum of two years.
What additional services/products will we get from this arrangement?There are many additional advantages for our membership with the proposition including new mobile applications, an expanded and more modernized web presence, a dedicated Wealth management team consisting of 4 individuals who do only Wealth Management through our same provider, Credential, a dedicated team of lending specialists who utilize a state of the art lending platform for quick decisioning and turn around, a wide range of loan, deposit and account packages at superior pricing with attractive features. In all respects our membership will be well served by the new organization in a more fulsome way with current and expanding technologies made possible simply by the scalability of the new organization.
What will happen to my existing banking relationship with the Ottawa Police Credit Union including my account, pre-authorized transactions, cheques, my bank card etc?Your existing relationship with the Ottawa Police Credit Union will remain the same and you will continue to be served by the staff that you have come to know over the years. The finishing touches are still being finalized on account details but rest assured you will continue to have uninterrupted service.
Will our Credit Card provider change again? No. Collabria works with both of our organizations to provide credit card services. Currently we provide the Mastercard product line, Frontline offer the VISA product line. In fact our joint membership will have greater options due to this change.
Will mortgage rates be better and limits higher?Yes. Frontline offers very competitive pricing and higher limits on their credit products. Due to their size they are able to offer high mortgage limits as well.
Will investment rates be higher than what is currently offered?Frontline has access to wholesale pricing on their investment offers which means they will be able to be more competitive than we presently are.
Will my Bank card with the Ottawa Police Credit Union continue to work on completion of the transaction?All members with existing debit cards will be issued replacement cards in advance of June 30th with cards being delivered through Canada Post.
Will my existing loan/mortgage/loc rate change?All credit facilities will be reviewed and repriced more attractively should the file warrant it. All credit files are typically reviewed annually with pricing tied to the strength of the file. This will be different for each and every member. For the vast majority of our membership, we expect that the pricing will improve.
What will be the name of the New Organization?The name will be Frontline Credit Union – Ottawa Police Branch
April, 21 2021
Now Accepting applications For the Board of Directors of The Ottawa Police Credit Union
Interested parties are to advise the General ManagerAnd provide a resume outlining QualificationsAt firstname.lastname@example.org
Votes to be held at our AGM on April 29th, 2021.
Download PDF here.
We want to make sure that you have access to your account if we are unable to come to work.
We are asking that you make sure that your Ottawa Police Credit Union debit card is working, and that you have online access to your account. With stores and resturaunts starting to refuse cash, it will be crucial that your Debit Card is working. It will also allow you to make deposits and withdrawals at ATM's
With online bakning you will be able to
If you need to add a utility bill to your account please give us a call, if you need to update your online banking information, please give us a call. If you need to have access to online banking, please come by the office. If you need a new debit card come by the office.
Plesee keep in mind that we are here today, and as far as we know we will be here for the rest of the week, but there are no guarantees, so please do hesitate.
As the situation evolves, we will continue to update our Members.
We now have the info on the system for the 64th Annual General Meeting
The actual interest rate can be as high as 10%, how?
With a Pre-aproved New Car Loan you can....
Contact us Today!!!
We are very pleased to inform you that 68 new credit unions will be joining The Exchange ATM network shortly. The 68 credit unions are from the provinces of Nova Scotia, Prince Edward Island, Newfoundland/Labrador and New Brunswick and bring 139 additional ATMs to the network. Coast to coast this will bring our total number of ATMs to slightly over 1,800.These new credit unions will be connected by September 30th providing access to other credit unions. In addition to Ontario credit union ATMs, THE EXCHANGE(R) Network includes most credit unions in British Columbia, Citibank Canada, Manulife Bank of Canada, HSBC Bank Canada, Canadian Western Bank and the National Bank of Canada. Credit union members who use THE EXCHANGE(R) ATMs versus conventional ATM networks will save an average of $1.50 per transaction.
Ottawa Police Association141 Catherine StreetOttawa, OntarioTo be determined due to the COVID - 19 Virus5:30 PM
Registration and reception of members Welcome Minutes of the 64thd Annual General Meeting Report of the Chair of the Board of Directors Report of the Audit Committee Report of the General Manager Report of the Loan Officer Report of the Auditors Unfinished Business New Business: Appointment of Auditors: Election of Board Members: Adjournment
Nominations for Board of Directors
Two Positions for re-elections
Candidates interested in running for the Board of Directorss position must declare this interest , in writing, at least ten (30) business days prior to the election. (To be determinded due to the COVID - 19 Virus)
Candidates must be qualified in accordance with the Act, and must be of good character - which includes not being under criminal investigation.
Each candidates candidacy will be reviewed by a nominating committee of three members appointed from/by the Board. None of the nominating committee members can be up for re-election
Candidates who are deemed ineligible for election will not have their name put forward for further consideration and they shall be promptly notified of this decision.
Candidates wishing to challenge the decision of the nominating committee can appeal the Board of Directors - whose ruling shall be considered final.
Nominations will be put forth to the membership at the 64th Annual General Meeting. A vote by the membership will be completed by the way of ballot and the results tabulated by the accounting firm of McCay, Duff & Company.
If there are any concerns or additional information required, please feel free to contact, Scott Brown (Board Director), or Jamie Dunlop (Board Director) of the Ottawa Police Credit Union Limited.
Scott Brown email@example.com
Jamie Dunlop jdunlop@ottawa police.ca
We can now order foreign exchange currency, to be delivered here to the branch.
A notice of the elections shall be posted at the Credit Union sixty (60) days prior to an election for any Board of Directors position. Candidates interested in running for a Board of Directors position must declare this interest, at least thirty (30) days prior to the election. This posting shall also include the policy herein:Candidates must be qualified in accordance with the Act, and must be of good character, which includes not being under criminal investigation and / or not having a criminal record.Each candidates candidacy will be reviewed by a "nominating committee" of three members appointed from the Board, None of the nominating committee members can be up for re-election.Candidates who are deemed ineligible for election will not have their name put forward for further consideration and they shall be promptly notified of this decision.Candidates wishing to challenge the decision of the nominating committee can appeal the Board of Directors - whose ruling shall be considered final.
Friday April 10th 2020 & Monday April 13th 2020 for Easter