Lender History:
DUCA Financial Services Credit Union was established in 1954, originally as the Ontario Hydro Credit Union, to serve the financial needs of Ontario Hydro employees. Over the decades, DUCA expanded its membership to include individuals across various sectors and communities, evolving into a full-service financial institution. In 2005, the credit union adopted its current name, reflecting its commitment to innovation and community-focused banking. Today, DUCA continues to offer a range of financial products and services, driven by a mission to empower its members and support local initiatives.
Key Strengths
DUCA's key strengths lie in its innovative HELOC rental program, which provides a unique opportunity for borrowers to access funds without the burden of a traditional stress test. This means increased accessibility for those looking to leverage the equity in their homes. Additionally, DUCA's flexible ratios allow for tailored financing options that cater to individual circumstances, making it easier for clients to secure the financing they need. This combination of features positions DUCA as a supportive partner in achieving financial goals.
Factors to consider:
Where does DUCA lend? Lending locations are dependant on proximity to branches. Here is a link to DUCA’s website outlining branches.
Does DUCA lend to individuals New to Canada and First time home buyers? Absolutely. I’d say this is one of their big strengths in their new to Canada programs and empowering first time home buyers.
DUCA also has strong programs supporting investors, particularly with their HELOC on rental program.
Contact Information and Links for DUCA:
Head Office Location:
5255 Yonge Street, 4th Floor
Toronto, Ontario , M2N 6P4
