Rapport Credit Union Joins WFCU Credit Union to bring Ontario a Better Banking Experience

Following Rapport Credit Union’s membership and shareholders voting overwhelmingly in favour of joining WFCU Credit Union (WFCU) during the voting period in July 2024, Rapport and WFCU are proud to announce the legal completion of the agreement for Rapport Credit Union to join together with WFCU as of September 1, 2024.

As part of the agreement, Rapport Credit Union is now operating as Rapport—A Division of WFCU Credit Union, with all Rapport staff retaining their jobs and becoming employees of WFCU. Furthermore, being part of a single, larger, and more robust credit union will benefit existing and prospective members and staff across both organizations and further strengthen the credit union’s financial and cooperative position across Ontario.

“On behalf of WFCU’s Board of Directors, Executive Team, management, and staff, I would like to express our thanks and gratitude to the Rapport membership and leadership team for putting their trust in our partnership,” said WFCU Credit Union President & CEO, Eddie Francis. “Our shared purpose means we can scale our competitive offerings faster, providing additional products, services, and convenience to individuals, families and businesses across Ontario.”

“We are very pleased to continue to expand our footprint across the province with the inclusion of Rapport Credit Union,” said WFCU Board of Directors Chair, Marty Gillis. “Both Rapport and WFCU believe in putting the members first, proudly serving their needs as the core driving force for all other decisions. As we embark on a growth strategy together with Rapport – A Division of WFCU Credit Union, we will look to preserve and celebrate Rapport’s rich history of personalized member services and dedicated staff with deep connections to its members and community.”

As one credit union serving all our communities across three retail divisions, WFCU can now leverage greater economies of scale to offer the best products and services, a more advanced member experience, and more competitive rates to over 80,000 members. Together, WFCU will continue to listen and respond to its members’ financial needs and strengthen itself as a leading credit union for all of Ontario.

“With the support of our membership, and together with WFCU, we have made the right choice in becoming a more sustainable, member-centric and advanced organization for years to come,” said Michael Parzei, CEO, Rapport Credit Union. “Combining our operations with WFCU allows us to provide better opportunities for our members with immediate access to a greater variety of product and service offerings while maintaining a member-first philosophy, which remains the core foundation as we join together.”

“Engaging our members has always been the Board’s guiding star. Their continuous feedback has been incorporated into our strategic plans and has helped with the Board’s proactive decision to explore and ultimately recommend joining with WFCU,” said Rapport Board of Director’s Chair, Murray Lindo.  “When we looked at the opportunity to join with WFCU, we were able to address key strategic objectives for our members without delay, leveraging both new and existing programs. For the large, complex initiatives that require more planning, development and investments, the speed to market with a partner like WFCU would be improved exponentially and only available if we joined together.”

WFCU, together with Rapport – A division of WFCU Credit Union and its other divisions will now support a combined network of 24 retail locations across Ontario, serving members from Thunder Bay to Kingston and Toronto to Windsor, with numerous communities in between.