Community Banking at 2900 Dufferin Street
Italian Canadian Savings and Credit Union is happy to announce the opening of its new branch at 2900 Dufferin Street, near the Columbus Centre in one of the most “Italian” areas in Toronto.
Modern banking was born in Italy at the beginnings of the 15th century. The idea was to act as a payment agent for customers, to borrow and lend money, but in a broader sense to be a financial partner for the local community.  But today, with the exponential growth of the “global economy”, “free trade” and all the other trends in global finance , we are losing the community approach to banking -  even if our own world still revolves around our home, our family, the school, the grocery store and so on.
Personal Banking
The desire for community – based banking is why today one in three Canadians does his or her banking with a Credit Union: the financial system founded by community, focused on community, and supported by community.
More than 1.7 million Ontarians have turned to Credit Unions.  Why?  For two years in a row, Credit Unions have been the top financial institution - ahead of all banks, virtual or branch-based - in a national customer satisfaction survey done by Synovate. This year Credit Unions led the way in five categories – from branch service to financial products and services available.
Until the year 2000, no Credit Union tried to specifically serve the Italian Canadian community, though some Credit Unions were specifically serving other groups like the Polish and Dutch Canadians.
Since its inception in 2000, the Italian Canadian Savings and Credit Union has not only provided the Italian Canadian community with great personal banking services, it has also contributed over $1.5 million in support to community initiatives and organizations.

Business Banking
Italian Canadian Savings and Credit Union, in common with the whole Credit Union system in Ontario, is also very much involved in supporting local business.
Since 2000, Ontario Credit Unions have more than doubled the amount they lend to small business and their number of business members has increased by about one-third.
The numbers are clear. Ontario Credit Unions invest about one-quarter of the deposits they collect in local businesses and agriculture. Their importance in this area has been growing in recent years, says a report by A. Michael Andrews and Associates.
Credit Unions have about 5 per cent of the retail deposits in Ontario, but account for 25 per cent of the loans to small and medium-sized businesses, the report says. About 80 per cent of the commercial lending done by Credit Unions is for amounts of less than $1 million, while this segment accounts for only 23 per cent of the commercial lending done by the big banks.
Why is small business increasingly turning to Credit Unions? Credit Unions are working together to provide the sophisticated services and products that modern businesses require and ensure they meet their members' needs.  The result is that when the Canadian Federation of Independent Business surveys its members, it finds that those dealing with Credit Unions are the most satisfied.
The focus on the special needs of its members is what sets Credit Unions apart from the big banks.  To serve its members, Italian Canadian Savings and Credit Union has been offering its members Euro accounts, both personal and business.   And thanks to a correspondent banking agreement with Banca Monte dei Paschi di Siena, the oldest bank in the world and one of the leading financial institutions in Italy, IC Savings members are able to transfer funds to any bank in Italy or the rest of Europe almost in real time through direct access to the Italian inter-bank system.
Sophistication and new technology, but always with an attentive eye to personal service. At Italian Canadian Savings and Credit Union, there is no answering machine during business hours. If you call, a real person answers the phone… try to get that anywhere else.