Legal Terms & Conditions
Legal Terms of Use
Ukrainian Credit Union Limited (“UCU,” “we,” “our,” “us,” or the “Credit Union”) makes the information and materials on this website (ukrainiancu.com and any subdomain of ukrainaincu.com) (the “Website”) for general information only. The use of the Website is governed by these terms (the “Terms”).
If you access and use the Website, you accept and agree to be bound by and comply with (a) the Terms and (b) any terms, conditions, legal notices, and disclaimers in the footers, content, other pages of the Website and behind links, buttons, or icons on the Website (the “Additional Terms”).
The Terms and Additional Terms also apply when you use a downloadable application or other technology to access any features, functionality, content or information that is made available or provided on the Website.
General
The information, material and content provided in the pages of the Website, including pricing information, and product or service descriptions (the “Information”) is believed to be reliable when posted, but there is no guarantee that it is accurate, complete, or current at all times.
The Information is provided for general informational purposes only and is not intended to be relied upon as specific financial, investment, tax, legal, accounting, or other advice. To determine whether the Information is suitable for your financial or other circumstances, you may consult with us for specific information tailored to your circumstances.
Without limiting the generality of the foregoing, the Information may include technical inaccuracies or typographical errors, and the Credit Union and its officers, directors, employees and agents have no obligation to update the Information. The Information or the Websites may be changed, withdrawn, or terminated at any time without notice.
The Website and the Information is provided on as “as is, where is” basis and without any express or implied warranties, representations, or endorsements with respect to the Websites or the Information, including without limitation, warranties as to merchantability, operation, non-infringement, usefulness, completeness, accuracy, currency, reliability and fitness for a particular purpose, nor that any product or service will meet your needs or requirements.
Local Laws; Availability of Products and Services
Not all products, services, and Information made available on the Website are available in all provincial and territorial jurisdictions inside Canada. The Information does not constitute an offer or solicitation to buy or sell any product, service, currency, investment fund to anyone in any jurisdiction (provincial, territorial, federal, or foreign) in which an offer or solicitation is not authorized or cannot legally be made, or to any person to whom it is unlawful to make an offer or solicitation.
By law, subject to limited exceptions, UCU may only accept deposits from or make loans to a person who is a member of UCU. Accordingly, the Website and the Information is not intended in any way to be a solicitation to any person not eligible for membership in UCU.
Use of UCU Online Banking and UCU Mobile Banking (including the UCU Mobile Banking Application)
Certain portions of the Website relating to online banking may be accessed only by members of UCU who have agreed to be bound by the applicable Electronic Services Agreement, the terms of which will supersede any conflicting terms and conditions included in these Terms.
Use of Cookies and Technical Information
A cookie is file containing information which a website stores on your computer or web browser and can be retrieved by the website. We use two types of cookies on our website: session cookies and persistent cookies.
The Website uses cookies which are essential to operation of the Website. By accessing the Website, you consent to the use of such cookies. You can set up your web browser to inform you when cookies are set or to prevent cookies from being set; however, disabling cookies may prevent you from accessing the Website or portions of the Website.
We may collect information like your IP address, device-related information such as the make and model of your device, its operating system, mobile device identification number (IMEI), MAC address, non-personal Device Identifier (AAID, IDFA), information about the screen size, date and time of your use, and geolocation information to provide Website functionality, including marketing purposes.
We uses cookies and other similar technologies on the Website and when advertising through online communication channels. Through these cookies, we collect data to better understand how you’re using the Website and our products and services to give you the best possible online user experience and to improve our online services. We may also show you ads that analytics from this data suggest you may find interesting on our mobile apps, Website, and third-party websites or apps.
We may use some technologies (i.e., pixel, web-technologies) to tell us whether our advertising, operational communications and marketing messages have been accessed. We may use this information for determining which of our communications, advertising and marketing messages are effective or interesting to you.
Copyright
All information on this website protected by the Canadian copyright law. All rights are reserved by Ukrainian Credit Union Limited.
You will not copy, reproduce, republish, upload, post, publicly display, encode, translate, transmit, or distribute in any way, including “mirroring,” to any other computer, server, website, or other medium any part of the Website for any reason without our express prior written consent. Additionally, you will not sublicense or otherwise transfer any rights you may have under these terms of use. The Credit Union does not grant you any rights to the Website except for those that are expressly granted in these Terms.
You will not decompile, reverse engineer, disassemble, attempt to derive the source code of, or modify any portion of the Website or use the Website to develop similar functionality. You may not access, monitor, or copy any content on the Website using any robot, deep-link, spider, scraper, or other automated means or any manual process except for search engine indexing as specifically permitted by the robots.txt file located in the root directly of the Website. You will not attempt to gain unauthorized access to any portion or feature of the Website, or any other systems or networks connected to the Website, or to any related server or app, by hacking, password “mining,” impersonation, using user ID and password that the Credit Union did not specifically provide to you, or by any other means. You will not use the Website for any purpose that is unlawful or prohibited by these Terms.
You may not use any content on the Website to train any artificial intelligence (AI) or a similar system without our express prior written consent.
Trademarks
Certain names, words, titles, phrases, logos, icons, graphics, or designs in the pages of this Website may constitute trade names, registered or unregistered trademarks, or service marks (each individually a “Trademark” and collectively the “Trademarks”) of Ukrainian Credit Union Limited or of third parties and used under license by the Credit Union. The display of Trademarks on this Website does not imply that any license has been granted to any third party.
Links
Links to other websites from this Website are for convenience only. The linked websites are not under UCU’s control and UCU does not monitor and is not responsible for the content of any linked website.
Some UCU co-branded products and services are provided by third parties like Collabria Financial Services Inc. (credit cards); CUMIS Services Incorporated, The Co-operators Group Limited, and their affiliated and subsidiary corporations (certain insurance products), Aviso Wealth Inc. (wealth strategies investments, securities, and financial planning advice), and Central 1 Credit Union (certain online banking and mobile banking services).
Other than co-branded products and services, no endorsement of any third-party products, services, or information is expressed or implied by any information, material, or content referred to or included on, or linked from or to this Website.
No Liability for Damages
The Credit Union will not be liable to you or anyone else, for any damages whatsoever and howsoever caused (including direct, indirect, incidental, special, consequential, exemplary, or punitive damages) arising out of or in connection with the Website or the Information, or your ability on inability to access or use the Website or the Information, or any action or decision made by you in reliance on the Website or the Information, or any errors in or omissions from the Website or the Information, or any unauthorized use or reproduction of the Website or the Information, even if the Credit Union has been advised of the possibility of these damages.
Jurisdiction
The Website, the Information, the Terms, and the Additional Terms will be governed by and construed in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein, without giving effect to any principles of conflicts of laws, and notwithstanding your domicile, residence or physical location. All disputes, controversies, or claims arising out of or in connection to the Website, the Information, the Terms, or the Additional Terms shall be submitted to and be subject to the exclusive jurisdiction of the courts of the Province of Ontario (or, if applicable the federal court sitting in the Province of Ontario). You submit and attorn to the exclusive jurisdiction of the courts in the Province of Ontario to finally adjudicate or determine any suit, action, or proceeding arising out of or in connection with the Websites, the Information, the Terms, or the Additional Terms.
Deposit Insurance
Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA).
Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA).
For further information on deposit insurance, please ask for a brochure at the credit union or visit the FSRA’s website at www.fsrao.ca.
Codes of Conduct
Code of Market Conduct for Ontario Credit Unions
UCU has adopted the Code of Market Conduct for Ontario Credit Unions that sets out the principles the Credit Union will follow when soliciting, promoting, advertising, marketing, selling, or distributing our products and services. This demonstrates UCU’s commitment to fair market practices and our commitment to our members.
PRINCIPLES IN THE CODE OF MARKET CONDUCT
Credit unions are unique institutions. Operating in Canada for over 100 years, credit unions are
financial cooperatives that are governed and financed differently than banks. At credit unions,
members are shareholders. Being a member means sharing in the credit union’s success.
Our primary motivation is providing quality products and services to our members. We are
committed to ensuring that our members are completely satisfied with the level of services they
receive.
This is our Market Conduct Code.
The Code recognizes the best practice principles we pledge to follow for soliciting, promoting,
advertising, marketing, selling or distributing our products or services. The Code demonstrates
our commitment to the fair treatment of all those who use our services. We believe in fair sales
practices, comprehensive access to banking services, transparency and openness, and a
reasonable approach to settling complaints. Individuals are entitled to the best possible care of
their financial interests. We respect all our provincial regulatory obligations, and continually
practice absolute excellence in consumer protection. Our best practices can be summarized in
five key principles:
Business Practices: We are committed to providing fair treatment to all our members and
customers using our products and services. It is a core component of our governance and
corporate culture.
Fair Treatment and Fair Sales: Treating members and customers fairly and demonstrating
fair sales practices at all times are integral parts of our business practices.
Access to Banking Services: We ensure that all credit union members and customers are
granted access to fundamental financial services.
Transparency and Disclosure: The credit union uses plain-language descriptions of products
and services in its communications to ensure people make informed decisions.
Complaint Handling: We examine complaints and work to settle them fairly, and we track
complaints to help ensure our practices continue to improve.
BUSINESS PRACTICES
The credit union aspires to make fair treatment a core principle of all our business
practices. It is a hallmark of our corporate culture and demonstrated in the dedication
of our leadership, governance, and employees.
Our culture is based on making strategic decisions in the best interests of our members. All our
employees are expected to support this culture by treating everyone who comes into a credit union
— and one another — fairly and with respect. Fairness is a fundamental right of every individual
we serve.
Ensuring this culture is implemented and maintained is the responsibility of our Board of Directors,
which is elected by our membership. The credit union sets fair treatment policies and procedures, and
it is the responsibility of senior management to report to the board on matters of adherence to the
principles with the Code.
Fair treatment also applies to how we manage personal information. Everyone has a right to expect
their financial affairs will be handled with discretion. We collect, use, and disclose all personal
information strictly in accordance with provincial and federal legislation. Our commitment to the fair
treatment of all individuals is a key responsibility.
Financial well-being and literacy
We put a premium on every individual’s financial well-being and financial literacy. We are
committed to developing and implementing policies and procedures that offer awareness and
education on how to improve one’s financial well-being through appropriate financial planning.
Whistleblowing
An opportunity to anonymously report suspected unethical conduct is a critical tool for any
responsible business. Our whistleblowing procedures allow employees to report incidents of
actual or potentially improper or unethical conduct without fear of reprisal or unwarranted
negative consequences.
These procedures also respect the rights of those about whom concerns are raised.
Our Board periodically reviews, approves, and maintains whistleblowing policies. At each credit
union, our managers are responsible for monitoring and controlling operations in accordance
with the whistleblowing policy.
Lobbying
Like any other business or association, we enjoy the freedom — and the responsibility — to
interact with governments and comment on policy, legislation, or regulations. We ensure that
each lobbyist we hire, either on staff or as a consultant, acts on behalf of the credit union,
discloses any conflicts of interest, registers with the appropriate registries, and follows all laws
and regulations that apply.
FAIR TREATMENT AND FAIR SALES PRACTICES
Treating members and customers fairly and demonstrating fair sales practices at all times
are integral parts of our business practices.
Fair Treatment
The credit union treats all individuals who use our services fairly, and we demonstrate fair sales
practices in all our business relationships. We will not discriminate against any of our customers,
or anyone considering using our services. We abide diligently by provincial human rights codes.
We make exceptions only when justified by law, or if a special product or service is designed to
serve a particular group.
We never take advantage of anyone by misrepresenting facts, concealing information, or
engaging in manipulation, unfair dealings or unethical activities. We do not take advantage of
people, and we take extra care to be clear and comprehensive with those who are unable to
protect their own interests or who are only just familiarizing themselves with how we operate.
Nor do we use misleading, threatening, intimidating, or abusive language, or apply excessive or
unreasonable pressure to repay, against any borrower. We take all reasonable steps to identify,
avoid, or manage conflicts of interest.
Fair Sales
Everyone who uses a credit union has access to accurate information to help them choose the
most affordable and appropriate product or service. Our advertising, marketing materials and
communications are straightforward, accurate and easy to understand. We provide information
that helps ensure that individuals considering our products and services can make informed and
suitable choices. We exercise reasonable and prudent judgment in all our business dealings.
The credit union is committed to the professional development of our employees, who are
trained to provide financial information that individuals can trust. Their knowledge is gained, and
improved upon, by appropriate training programs or work experience. Employees will keep
abreast of changes in products and services, industry standards and regulations relevant to
their role.
Tied selling and undue pressure
The credit union does not engage in undue pressure or coercion to convince people to select any
particular product or service. We do not impose any form of pressure to induce someone to buy a
particular product or service they don’t want as a condition of obtaining those they do want.
Negative-option billing and consent
The credit union does not practice negative-option billing, which means automatically billing
people for a product or service they have not asked to
purchase. We will always obtain people’s consent for new and optional products and services
and will seek out their consent for changes made to agreements that affect their rights and obligations.
Preferential pricing
In certain instances, we will offer a better price or rate on all or part of a product or service. This
practice is permissible. For example, we may offer a preferential price if a member, account holder, or
consumer has or is considering buying several other credit union products or services. We are
completely transparent about these opportunities.
Risk management
To manage risk or costs, or to comply with any laws that apply to our operations, we may make
reasonable requests of our members, account holders, or consumers as a condition of acquiring
a product or service.
Digital products and services
Many legislative and regulatory requirements apply to digital financial products and services.
The credit union regularly seeks regulatory guidance and follows best practices when providing
Internet-based products and services in a digital environment.
ACCESS TO BANKING SERVICES
Credit unions are determined to ensure people have access to fundamental banking
services. This is an essential part of our mission.
We open deposit accounts for anyone whose identity can be verified, and if we refuse to do so, it
is only for sound business reasons. The credit union may also refuse to open an account if it has a
closed bond of association and the applicant does not meet the conditions of that association.
We may refuse to open a deposit account if an applicant has previous write-offs or losses or
a poor credit bureau score. We assess whether we can minimize the risk by instead imposing
restrictions on the account. Our decision is influenced by several factors. We consider the amount
of past losses or write-offs, the length of time since the loss, and any
extenuating circumstances.
When we refuse to open an account, we inform the applicant of our decision. We never refuse to
open a deposit account for unjust discriminatory reasons, or if the applicant is unemployed, or
has been bankrupt. We do not refuse to open an account when the applicant is not making an
immediate deposit. If we close a deposit account, we do so only in strict accordance with the
agreement that governs our relationship with that member or account holder.
Restrictions on deposit accounts
The credit union may impose reasonable restrictions on certain deposit accounts.
Restrictions include placing temporary holds on cheques to allow time for them to clear or
limiting the amount of cash provided on a deposited cheque. If warranted, we may impose
limits on overdraft restrictions, on debit card privileges, or on ATM and online access. We
are transparent regarding any changes or restrictions imposed upon members’ accounts.
Low-fee and no-fee deposit accounts
Credit unions believe low-fee and no-fee accounts should be available to ensure fundamental banking
services are available to those who cannot otherwise afford to open and operate an account due to the
cost.
Access to funds
At the credit union, account holders have immediate access to the first $100 deposited by cheque
into a deposit account (or by the next business day). We may not grant the funds if the cheque is
endorsed more than once, is in a foreign currency or issued by a foreign branch, if we believe it is
tied to illegal activities, or if the account is less than 90 days old. We will inform affected
Members or Account Holders of any reductions to funds access limit amounts, or increases to
cheque- hold periods.
Government of Canada cheques
The Government of Canada provides indemnification for federal government cheques up to $1500,
and all financial institutions have access to a verification service. On this basis, credit unions
support cashing Government of Canada cheques up to $1500 at no cost for their members and
account holders on the presentation of acceptable identification. However, credit unions may refuse
to cash cheques for more than $1,500, or for sound business reasons, such as a suspicion that the
cheque has been altered in some way or is connected with a crime or fraud.
TRANSPARENCY AND DISCLOSURE
The credit union will provide suitable product and service information that is easy to
understand, and considers the financial needs of the Member, Account Holder,
or Consumer.
Up-to-date information is made available to individuals before and after a product or service is
acquired. Our documents are clear and contain all the financial implications of a transaction.
When someone opens an account, we ensure they are making an informed decision by letting
them know the key features of an account and any associated risks, exclusions, or limitations. We
make sure they are aware of the financial implications of a transaction, that they understand all
related costs, and that they know the terms and conditions and their rights and obligations. We
draw special attention to the key areas of an agreement, including fees and charges, changes to
the agreement, applicable restrictions, overdraft protection, deposit insurance coverage, and
other relevant terms and conditions.
To ensure people are fully informed, when a member or account holder acquires a product or
service, we provide them with the related documentation. Account holders receive regular
statements and are advised of any changes. If a statement has already been provided, we may
charge a reasonable fee to provide a duplicate copy. The credit union gives advance notice of
changes to agreements, service fees or account structures, and interest rates in accordance with
applicable legislation.
In cases where notice is not legally required, the credit union may provide notice on their
website, in-branch, by mail or electronically. Where no such rules exist, we follow the rules
agreed to by the credit union and the provincial regulator.
Mortgage information
The credit union provides general mortgage information for members and account holders with
mortgages on request. This information includes a contact number the Member or Account Holder can
call to obtain additional specific information about their mortgage.
Branch and ATM closures
We understand the potential inconvenience that the closing of a branch or ATM may have on
our Members and Account Holders, and thus we make every effort to alert our members to the
closing of a branch or ATM as soon as possible. The credit union will notify Members and
Account Holders of any closures – permanent or temporary – in accordance with applicable
legislation. In cases where no legislation applies, notice may be communicated by the credit
union on their website, in- branch, by mail or electronically.
Disclosure
Because we often use the terms “bank,” “banking” or “banker” in our marketing materials, we
make sure account applicants new to a credit union understand that the account is not being
opened in a bank. We call this process onboarding. Customers new to a credit union may not be
clear on the distinction. We verify that they understand the account is with a credit union and
not a bank.
Identifying deposit insurance system
When identifying our deposit insurance system, we follow the restrictions, guidance,
requirements, and display and advertising rules established by provincial deposit guarantee or
insurance corporations.
COMPLAINT HANDLING
The credit union examines all complaints and settles them fairly using a process
that is accessible to everyone.
Every Every credit union has procedures for fairly handling dissatisfied members, account holders, or
consumers. We recognize that many complaints can be effectively resolved at point of contact.
For those that complaints that cannot be resolved at that stage, the credit union will establish a
procedure for escalation and/or designate a senior employee responsible for handling these matters.
That procedure and/or the designated employees contact information will be made available on the
credit union website, at the branch, and upon request.
We will also establish a process for handling complaints that cannot be resolved through
internal avenues.
In order to identify trends, and the types of complaints lodged, the credit union will maintain records
of complaints received, and the actions taken to address them.
The credit union will review trends identified in the records on a regular basis to facilitate process
improvements and improve Member satisfaction.
Code of Conduct for the Credit and Debit Card Industry in Canada
UCU is committed to the Code of Conduct for the Credit and Debit Card Industry in Canada and Canadian Code of Practice for Consumer Debit Card Services. These codes are designed to protect cardholder (member) interests related to the issuance and acceptance of payment cards as well as to the operation of payment card networks.
More information about the codes:
- Code of Conduct for the Credit and Debit Card Industry in Canada
- Canadian Code of Practice for Consumer Debit Card Services
Account Agreements
Account Agreements
Personal Account Terms and Conditions
Business Contract Terms and Conditions
Online Banking and Mobile Banking
Internet and Telephone Banking Agreement
Account-Related Services
Service Fees
Appendix: Trademarks
UCU Trademarks
Trademarks owned by Ukrainian Credit Union Limited include the following: Ukrainian Credit Union Limited, Ukrainian Credit Union, UCU, YKC, Українська Кредитова Спілка, Українська Кредитова Спілка design, UCU’s trident logo design, ucuykc, ucuykc design, ucublu, ucublu design, ucubiz, U-Touch, ucublu, ucublu design, ucumobile, as well as other trademarks used on the Website together with the symbols TM or ® at first-time use or otherwise.
The display of trade-marks and trade names on pages at the Site does not imply that a licensee of any kind has been granted to anyone else.
Third-Party Trademarks
Apple, the Apple logo, iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.
Android is a trademark of Google Inc. Google Play™ is a trademark of Google Inc.
Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated. The Collabria Mastercard is issued by Collabria Financial Services Inc. pursuant to a license from Mastercard International Incorporated.
Interac Flash®, Interac Debit® and Interac e-Transfers® Trade-marks of Interac Corp. Used under license.
Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Online brokerage services are offered through Qtrade Direct Investing. Qtrade Direct Investing and Qtrade Guided Portfolios are divisions of Aviso Financial Inc.
THE EXCHANGE & Design are registered trademarks owned by Fiserv Inc., licensed for use in Canada by FICANEX Services Limited Partnership.
