Business Details
50+ Years
experience
Your Trusted Local Credit Union in Thunder Bay
Bay Credit Union was founded in 1946 to serve the Finnish-speaking community of Port Arthur, evolving into a full-service financial institution for Thunder Bay in 1975. We merged with Apple Community Credit Union in 2014 to strengthen our local presence, now serving over 4,500 members with $90 million in assets. As a member-owned cooperative, we prioritize community well-being through competitive rates, personalized service, and socially responsible initiatives.Our team of 20+ professionals offers banking, lending, investment, and insurance solutions tailored to individual and business needs. We reinvest all profits into expanding services, paying dividends, and supporting local development through bursaries and community programs. With two branches, online banking, and a commitment to financial education, we empower members to achieve their goals while fostering sustainable growth in Thunder Bay.
Services
Personal Accounts
Business Accounts
Mortgages
Credit Cards
Term Deposits
Registered Products
Foreign Exchange
Online Brokerage
Travel Insurance
Supplemental Member Capital
Details
- Year established: 1946
Highlights and features
- We are a member-owned cooperative reinvesting profits into community development.
- Our locally tailored financial solutions prioritize Thunder Bay residents and businesses.
- We offer competitive rates on loans, savings, and investment products.
- Our merger history demonstrates commitment to expanding services sustainably.
- Personalized service from experienced professionals who understand local needs.
What people say
Exceptional customer service
Competitive mortgage rates
Community-focused initiatives
Easy online banking
Knowledgeable staff
Services
Personal Accounts
We offer tailored personal banking solutions including chequing and savings accounts designed to meet short-term and long-term financial goals. Our accounts feature competitive interest rates and low fees, with options for digital banking and in-branch support. As a member-owned institution, we prioritize your financial well-being through personalized service and community reinvestment.
Business Accounts
Our business accounts provide tailored financial management tools for local enterprises, including dedicated savings and operating accounts. Features include low transaction fees, business loans, and access to credit union service centers. We support Thunder Bay businesses with personalized advice and reinvest profits locally to foster economic growth.
Mortgages
We offer competitive mortgage rates and flexible terms for homebuyers, including fixed and variable rate options. Our local lending experts provide personalized guidance through the mortgage process, with a focus on community needs. Members benefit from exclusive promotions and rebates tied to our member-owned structure.
Credit Cards
Our Visa credit card options include standard, premium, and US-dollar-denominated cards with rewards programs and travel benefits. Cards feature competitive interest rates and no annual fees for most products. As a credit union member, you gain access to exclusive cardholder promotions and personalized financial management tools.
Foreign Exchange
We provide access to over 70 foreign currencies with preferred exchange rates and no transaction fees. Members can order currency by phone or in-branch for pickup within seven days. Our program includes a best-rate guarantee and supports travelers with denominations matching common spending needs in international destinations.
People
Lynne LeGros
Chief Executive Officer
Lynne LeGros leads Bay Credit Union's strategic direction with over 20 years of experience in community-focused financial services. She champions member-centric banking and sustainable growth initiatives.
Penny Guidone
Chief Financial Officer
Penny Guidone oversees financial operations and compliance, ensuring fiscal stability while supporting local investment programs. She brings extensive expertise in credit union finance and member dividends.
Cheryl Smith
Chief Lending Officer
Cheryl Smith directs lending operations with a focus on accessible mortgage and personal loan products. Her team emphasizes personalized service for Thunder Bay residents and businesses.
Kerry Morden
Chief Operations Officer
Kerry Morden manages daily operations and service delivery across branches, ensuring efficient member experiences. He specializes in implementing technology solutions for secure digital banking.
Alise Gore
Algoma Branch Manager
Alise Gore leads the Algoma Street branch team, providing localized financial advice and community engagement. She focuses on building relationships through personalized member service.
Questions
How do I become a Bay Credit Union member?
Visit our website or contact us directly to start the membership process. We require basic identification and residency information for Thunder Bay residents.
What foreign currencies can I access through your program?
We offer over 70 international currencies with guaranteed best exchange rates and no transaction fees for members.
Do you offer business banking services?
Yes, we provide business accounts, commercial loans, and tailored financial management tools for local enterprises.
How does your mortgage rebate program work?
As a member-owned credit union, we return profits through mortgage rate rebates and dividend programs annually.
Can I access 24/7 banking services?
We offer online banking, mobile apps, and ATMs for 24/7 access, with branch hours Monday-Friday 9am-5pm.
What community initiatives do you support?
We fund student bursaries, local charities, and financial literacy programs through our Community Giving initiatives.
Reviews (3)
Rick Fortier
Aug 17, 2021
Report
Another place Ive been going to for almost 30 years and Ive never had a problem and if I did they fixed it for me. The staff there are great people, for years I didnt even have to say my name cause the clerk would know it by heart but just like a lot of things after so long some are gone n need to get to know new ones. No matter what theyve all done a great job!!
Jemi
Aug 29, 2018
Report
I regret changing to this credit union from my previous larger financial institution. The issues I now have, make day to day banking more inconvenient. I have never had these issues until I switched:
NO banking app
To pay bills online, it takes a/the next business day before you can use it, see it, pay it etc. Any deposits made at ATMS have a 7 day hold unless you go inside to deposit BUT the hours are terrible - "open on Saturday" only to see it is closed. No extended hours! You can't take out any large amounts of money or deposit any money unless you go inside ....
NO banking app
To pay bills online, it takes a/the next business day before you can use it, see it, pay it etc. Any deposits made at ATMS have a 7 day hold unless you go inside to deposit BUT the hours are terrible - "open on Saturday" only to see it is closed. No extended hours! You can't take out any large amounts of money or deposit any money unless you go inside ....
Bev Carroll
Aug 31, 2017
Report
I receive excellent customer service whenever I enter this credit union. The atmosphere is polite&pleasant. All the reps know virtually every client's name. It is so nice to be recognized by name rather than "Next!". Kudos to such a wonderful local business.