Business Details
50+ Years
experience
Your Trusted Financial Partner in Thunder Bay
Bay Credit Union was founded in 1946 as the Peoples Co-operative Credit Union Limited to serve Thunder Bay's Finnish-speaking community. We expanded our services to all residents in 1975 and merged with Apple Community Credit Union in 2014 to form a stronger local institution. Our purpose remains providing financial services that enhance community economic well-being through socially responsible practices.With two branches serving over 4,500 members, we offer competitive rates, personalized service, and locally owned operations where all profits reinvest into member benefits. Our team of 20+ professionals delivers responsive service through in-person, online, and mobile banking solutions while supporting community development through bursaries and local initiatives.
Services
Personal Accounts
Business Accounts
Mortgages
Credit Cards
Term Deposits
Investing Services
Foreign Exchange
Online Banking
Travel Insurance
Supplemental Capital Shares
Details
- Year established: 1946
Highlights and features
- We exclusively serve Thunder Bay communities with localized financial expertise
- Our member-owned structure ensures profits reinvest directly into community benefits
- We offer personalized service through multiple banking channels including mobile and online
- Our merger history demonstrates commitment to strengthening local financial services
- We provide socially responsible banking with community development initiatives
What people say
Member-first approach
Competitive mortgage rates
Personalized service
Community involvement
Easy online banking
Services
Personal Accounts
We offer flexible personal banking solutions including chequing and savings accounts tailored to individual needs. Our packages range from no-fee options for seniors to student accounts with special benefits. Members enjoy overdraft protection, unlimited transactions in premium packages, and access to ATMs through the Shared Branching network.
Mortgages
Our mortgage services include conventional, insured, and variable-rate options with terms up to 5 years. We offer free pre-approvals with guaranteed rates for 90 days and specialized CreditMaster mortgages that allow flexible management of multiple loans under one agreement. Our local lending experts help members achieve homeownership goals with personalized solutions.
Credit Cards
We provide Visa credit card options including Classic, Gold, Infinite, and US Dollar variants with benefits like cashback rewards and travel insurance. Business members can access specialized cards with features like no annual fees and low interest rates. All cards include 24/7 fraud monitoring and emergency assistance services.
Term Deposits
Our term deposits offer guaranteed returns with terms ranging from 30 days to 5 years. Options include redeemable and non-redeemable terms, index-linked deposits for potential higher returns, and tax-free savings accounts (TFSAs). The Savings Madness program provides 5% compounding interest for goal-oriented savers with automatic contribution plans.
Business Accounts
We deliver tailored business banking solutions with packages for small, medium, and large enterprises. Features include unlimited transactions for electronic deposit accounts, overdraft protection, and specialized services for non-profits. Our local business experts provide support for commercial financing needs and cash flow management.
People
Lynne LeGros
Chief Executive Officer
Leading Bay Credit Union since its formative years, Lynne brings decades of financial leadership experience to ensure member satisfaction and community-focused banking services.
Penny Guidone
Chief Financial Officer
Managing financial operations with expertise, Penny ensures fiscal responsibility while maintaining competitive rates and sustainable growth for member benefit.
Cheryl Smith
Chief Lending Officer
With extensive mortgage industry experience, Cheryl leads our lending team to provide personalized home financing solutions and exceptional customer service.
Kerry Morden
Chief Operations Officer
Overseeing daily operations, Kerry ensures efficient service delivery across all branches while maintaining our commitment to member satisfaction and community development.
Alise Gore
Algoma Branch Manager
Leading our Algoma Street branch, Alise provides personalized banking solutions while connecting with local businesses and community organizations.
Questions
How do I become a member of Bay Credit Union?
Membership is open to anyone living or working in Thunder Bay. Visit our website or any branch to complete a simple application process.
What mortgage pre-approval benefits do you offer?
We provide free pre-approvals with guaranteed rates for 90 days and flexible CreditMaster mortgages that allow multiple loan facilities under one agreement.
Do you offer business banking solutions?
Yes, we provide tailored business accounts with unlimited transactions, overdraft protection, and specialized services for non-profits and commercial clients.
What investment options are available?
We offer term deposits (GICs), tax-free savings accounts (TFSAs), registered products like RRSPs, and online brokerage access through Qtrade Investor.
How does your foreign exchange service work?
We provide access to 70+ currencies with preferred exchange rates, no transaction fees, and guaranteed best rates for members through our branch locations.
What community initiatives do you support?
We fund student bursaries, local initiatives through signature donations, charity BBQs, and financial literacy programs that promote community development.