LFFCU Joining PACE

More Services!

 

Dear Member:

Earlier this year, LFFCU made the decision to partner with PACE Credit Union to bring you, the valued members, a broader range of products and services. And with the upcoming conversion to PACE’s data system on December 1st, 2017, access to these services is close at hand. 

Here’s what you need to know…

  • Your branch will be closed during the conversion process December 4 to 7, 2017. If you require any assistance, please reach out to our contact centre 1-877-588-7223 or any of the other 17 locations, including our other London branch, listed on our web site pacecu.com.
  • You will be issued a CIF (Client Information File) number. In most cases this CIF number will be your current member number. Any accounts that you use will be given a full account number which reside under your CIF. This differs slightly from your current member number with sub account system.
  • Your membership share at LFFCU is $200 and the PACE membership share requirement is $175. Post conversion, $25 will be moved from your share account and transferred into your savings account.
  • After the data conversion, your statements will be available for you through on-line banking at pacecu.com. Post conversion, simply call your branch to be set up with on-line banking access. You can let your branch know if you would like to continue to receive a mailed statement as well.
  • Account information prior to November 30, 2017 can be obtained through your branch in London.
  • Loan, Savings and Term Accounts will all be mapped to the new system in a similar product.

 Here’s what’s new for you after November 30…

  • Debit Cards
  • Cheques (can be ordered on-line)
  • On-line banking including Bill Payments
  • Mobile banking with a world class app
  • Interac e-transfers, pre-authorized transfers, me to me transfers
  • Expanded lending – mortgages, higher lending limits
  • Wealth management, business and insurance products and services



At PACE, we appreciate the opportunity to continue LFFCU’s legacy of people helping people and look to serve you in a way that is consistent with co-operative values.

Our conversion team’s mission was to bring you onto the new data system with as little inconvenience to you as possible. However, we sincerely apologize for any inconvenience you may experience and appreciate your patience.


Sincerely,


Dan Coldwell
Chief Marketing and Community Relations Officer





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LFFCU Vote Information...


September 15, 2017 – The Board of Directors of London Fire Fighters Credit Union Ltd and PACE Savings & Credit Union Ltd are pleased to announce that LFFCU’s membership voted unanimously in favor of partnering with PACE by way of asset purchase. The transaction is scheduled to be completed on November 30, 2017

LFFCU’s Chair Kevin Dash commented “This is an exciting time for our Credit Union. Our members, staff and directors are all very proud of the credit union we’ve built over the past 70 years and we know that our basic people helping people principles will be preserved in the PACE environment” 

 The merged credit union will operate under the PACE brand with local recognition of the London Fire Fighters brand and personality, maintaining the LFFCU values and credit union principles. LFFCU members will also be offered an expanded range of financial products, services and locations to accommodate all of their financial needs.

 “I was really impressed with the passion that the LFFCU members showed towards their Credit Union. We take the responsibility of continuing their legacy very seriously and look forward to working with their enthusiastic staff and membership.” said PACE CEO Phillip Smith.

 About London Fire Fighters Credit Union Ltd

 Established in 1947, LFFCU services their 700 members at their branch in downtown London. They are a closed bonded credit union serving the financial needs of current and retired employees of the City of London Fire Department, their families, as well as other regional professional fire fighters.

 About PACE Credit Union Ltd

 PACE Credit Union’s Ontario roots trace back over 60 years including the membership of Farmunited Co-op, the first credit union incorporated under the new Credit Union Act of 1940. Over the decades, PACE has grown, meeting their members’ and community’s financial needs. Headquartered in Vaughan, Ontario, PACE serves its 36,790 members holding over $1 billion in assets through 17 locations. To find out more about cooperative banking at PACE, visit pacecu.ca, follow @PACECU on Twitter, or find us on Facebook.

 

Dan Coldwell
Chief Marketing and Community Relations Officer
PACE Credit Union
8111 Jane Street, Vaughan, Ontario, L4k 4L7
905-738-8900
dcoldwell@pacecu.com




Letter of Intent...

 March 28, 2017 – The Board of Directors of London Fire Fighters’ Credit Union Limited and PACE Savings and Credit Union Limited are pleased to announce that they have signed a Letter of Intent to bring the two companies together by way of an asset purchase agreement. When the transaction is completed, the merged company will operate under the PACE brand, but with local recognition for the London Fire Fighters’ brand and personality.

“Our members will certainly appreciate the expanded range of financial products, services and locations. Also, PACE has a great track record of working with credit unions like ours to preserve our brand and give our staff opportunities to grow their careers. It’s a great fit for us” said LFFCU Chair Kevin Dash.

When the transaction is completed, PACE will operate in 19 locations throughout Ontario, employ 168 staff, and serve over 40,000 members who hold $896 million in assets.   

PACE CEO Phillip Smith commented “Partnering with London Fire Fighters is a great opportunity for us here at PACE. They have a loyal membership and a great CEO in Charmaine Spiegelberg who we are very much looking forward to working with”  

Before finalizing the arrangement, the credit unions will undertake due diligence and seek regulator consent. The transaction will also require the approval of the London Fire Fighters’ Credit Union membership.

 

About London Fire Fighters Credit Union Limited

 

Established in 1947, LFFCU services their 700 members at their branch in downtown London. They are a closed bonded credit union serving the financial needs of current and retired employees of the City of London Fire Department, their families, as well as other regional professional fire fighters.

 

About PACE Savings and Credit Union Ltd.

PACE Credit Union’s Ontario roots trace back over 60 years including the membership of Farmunited Co-op, the first credit union incorporated under the new Credit Union Act of 1940. Over the decades, PACE has grown, meeting their members’ and community’s financial needs. Headquartered in Vaughan, Ontario, PACE serves its 39,200 members holding over $892 million in assets through 18 locations. To find out more about cooperative banking at PACE, visit pacecu.ca, follow @PACECU on Twitter, or find us on Facebook.

 

Dan Coldwell
Chief Marketing and Community Relations Officer
PACE Credit Union
8111 Jane Street, Vaughan, Ontario L4K 4L7
905.738.8900
dcoldwell@pacecu.com

 

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