Jack Vanderkooy candidly admits he is facing a huge challenge."The younger generation does not want to use banks because that was the old way of doing business. The next generation of income earners appears disillusioned with financial advisors and wants to be certain their money
is safe."

Vanderkooy's team at DUCA has engaged an aggressive marketing campaign branding DUCA to boomers, a generation between 45 and 63 years old as well as the younger demographic.

"We are spreading the message across the GTA via radio and mail drops that DUCA is a provider of trust. Not being a bank we offer security and great value through competitive financial products," says Vanderkooy.

The sales pitch comes at a time when DUCA fine-tunes its competitive brands to rival the big banks in Canada and tries to boost membership in the credit union.

DUCA currently boasts a membership of 35,000. A good majority of those members are Dutch-Canadians but Vanderkooy says DUCA is open to all Canadians. "Our roots are still in the Dutch community where members still feel we are their bank because of our Dutch heritage."

That membership appears loyal. Despite the downturn in the economy, DUCA has grown significantly with solid profitability. At the end of 2008 DUCA reported $886 million in assets. By the first months of 2009, DUCA's assets topped $938 million. "We significantly beat our targets," says Vanderkooy who attributes this strong growth to confidence in the credit union.

Low cost banking, competitive rates and self-funding of loans and mortgages through member deposits is largely a cause of DUCA's success. Members have also enjoyed their part of the profits of the credit union. Since 1998, members have received more than $42 million in shares; DUCA's unique way to share its success with those who helped earn it. "We give a large portion of our profits back to our members," says Vanderkooy.

Much has changed since 1954, when the first DUCA members conducted their credit union business over a kitchen table. Today, DUCA members enjoy full service banking through 12 branches and with its new head office and main branch in North York, DUCA has truly come of age.
"Our new building exemplifies the evolution of a credit union from your mom and pop's outfit, to a full scale financial services institution," says Vanderkooy. The 28,000 square foot space embellishes a European feel, with 14-foot floor to ceiling glass windows, open workspace, and keeping in tune with the times, an environmentally responsible green roof. Vanderkooy says this building is a true testimony to the success of the Dutch Canadian community and reflects the values of the credit union to provide excellent space in which to work and do your banking.

Vanderkooy adds DUCA is focused on building the success of the Dutch-Canadian immigrants who founded DUCA 55 years ago. "The new generation shares the same values our forefathers had, values are creating value."

Oma and Opa understood that too.

For more information on DUCA Financial Services Credit Union, go to www.duca.com or call
416-223-8502.

By Darryl Konynenbelt
CNBPA Information Director