FAQs

What finanical services does Bay Credit Union offer?

  • We offer personalized services for all of our members including: Chequing & Savings Accounts, Mortgages, Lines of Credit, MasterCard Credit Cards, Government Bonds, RRSPs, RESPs and Financial Planning.

What are your hours of operation?

  • Monday: 9:30am – 4:30pm
    Tuesday: 9:30am – 4:30pm
    Wednesday: 9:30am – 4:30pm
    Thursday: 9:30am – 5:30pm
    Friday: 9:30am – 4:30pm
    Saturday: 9:30am – 1:00pm
    Sunday: CLOSED

We are closed Saturdays on long weekends and statutory holidays.

What are RRSPs?

  • Registered Retirement Savings Plans (RRSPs) help you put away money to save for retirement. For each year you save, you are allowed to contribute a certain amount of your income tax-free to your RRSP.

What are RESPs?

  • Registered Education Savings Plans (RESPs) help you plan for your child’s education. These education savings plans are a Government of Canada initiative to help parents, grandparents, relatives or friends to fund a child’s post-secondary education.

What are TFSAs?

  • The new Tax-Free Savings Account (TFSA) is a flexible, registered general-purpose savings vehicle that allows Canadians to earn tax-free investment income to more easily meet lifetime savings needs. The TFSA complements existing registered savings plans like the Registered Retirement Savings Plans (RRSP) and the Registered Education Savings Plans (RESP).

What are lawyer trust accounts?

  • Bay Credit Union’s Lawyer Trust Accounts help lawyers, notaries and law firms to manage client funds. 

What is a MeritLine of Credit?

  • MeritLine is the answer for homeowners with equity in their homes. With MeritLine you can borrow what you need, when you need it at a competitive rate of interest.

Does Bay Credit Union offer US Savings Accounts?

  • Yes. If you are a frequent traveler to the United States or if you require U.S. funds on a regular basis, you may want to consider opening a Bay Credit Union U.S. Savings Account. Our U.S. Savings accounts offer you the flexibility to deposit or withdraw U.S. funds without having to convert between currencies.

Does Bay Credit Union offer Euro Savings Accounts?

  • Yes. If you are a frequent traveler to Europe or if you require Euros on a regular basis, you may want to consider opening a Bay Credit Union Euro Savings Account. Our Euro Savings accounts offer you the flexibility to deposit or withdraw Euros without having to convert between currencies.

Switch to our mobile site