Condominium Services

FirstOntario Condominium Services

FirstOntario Credit Union provides custom fit financial solutions for condominium boards and property managers on both the investment and lending side of the balance sheet. Our program has been designed with more than 18 years of experience in helping the condo industry prosper. Here are some of the great services we offer:

Investment Planning Tool

Planning the finances for an entire building and having a formal investment plan in place is a major responsibility. By taking advantage of our customized 10-year Investment Plan, using your latest Reserve Fund Study, we can provide turn-key investment solutions (usually within 24 hours), while improving your overall rate of return.

Deposit Rates

We have industry leading GIC rates and can include unique redemption options. Call us today to see how our condo specialists can generate additional interest income while providing you peace of mind in the event of unexpected expenditures.

Lending

Our team understands that a condo corporation occasionally needs to borrow funds to deal with unexpected costs. At FirstOntario, we have a dedicated lending team for this sector who fully understand the borrowing process on both sides.

Deposit Insurance Increases to $250,000 effective January 1, 2018

The provincial government agency that insures credit unions, the Deposit Insurance Corporation of Ontario (DICO), has increased coverage on non-registered deposits to $250,000. This is a major step for condo boards that make several investments to spread risk coverage. See www.dico.com for more information.

Contact

Dave Corbett
Manager, Cash Management
david.corbett@firstontario.com
(289) 834-0964
Email David Corbett

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