KITCHENER, ON (March 25, 2025) |
Your Neighbourhood Credit Union (YNCU) is proud to announce its intended partnership with Comtech Fire Credit Union, marking a significant milestone in enhancing both organizations' strength, reach, and impact. The coming together of the two credit unions is expected to be finalized later this year following regulatory approval and a Comtech Fire Credit Union member vote. Together the unified credit union will serve 65,000 members, manage $3.5 billion in assets under administration, and operate 22 branches across 18 communities in Ontario.
This partnership represents a shared commitment to member-focused services and community investment. By coming together, YNCU and Comtech Fire Credit Union bring their combined resources to the table to deliver enhanced products, increased branch access, and expanded digital banking solutions, all while preserving the personalized service their members truly value.
“This is an incredible opportunity to strengthen our collective impact for the benefit of our members, people, and the communities we serve,” says YNCU CEO, Lisa Colangelo. “Together, we will build a credit union that is deeply committed to driving positive change and making a meaningful difference in our members’ lives.”
YNCU and Comtech Fire’s partnership will create a credit union better equipped to meet member needs and adapt to a rapidly changing financial landscape. Both organizations are committed to retaining all team members and remaining present in existing communities, ensuring continuity of member service and support.
Members will benefit from an expanded branch network of 22 locations, with YNCU adding Comtech Fire’s branches in Ottawa, Kingston, Mississauga, Amherstview, and Toronto to their footprint. Additionally, the unification will enable investments in new technologies, expanded financial services, and a continued strong focus on community initiatives.
“This is a pivotal moment for Comtech Fire Credit Union. As a combined entity, we’re creating new possibilities for our members and employees while strengthening our ability to serve communities across Ontario,” says Dave Birak, CEO of Comtech Fire Credit Union. “Together, we’ll deliver greater value, expanded services, and a dedicated focus on member success.”
Anthony Piscitelli, Chair of the YNCU Board, emphasized the long-term benefits: “Bringing these two organizations together is about ensuring a sustainable and thriving future for our members. We are combining strengths to offer a more robust financial institution that can meet evolving needs while staying true to our member-centric philosophy.”
Michael Neely, Chair of the Comtech Fire Credit Union Board, echoed this sentiment: “This partnership is a natural evolution for our credit union. By becoming a part of YNCU, we are creating an even stronger foundation to support our members and enhance the services they rely on.”
To keep members informed, a dedicated website has been created, custrongertogether.ca
To learn more about YNCU, please visit, yncu.com/.