Your account will become inactive if you have not initiated any transactions for 12 months. This applies only to everyday use accounts, such as your chequing and regular savings accounts and does not include GICs, registered accounts, or investment shares.
An account will become dormant if there have not been any member-initiated transactions for 24 months.
YNCU does not charge any fees to an account that is defined as inactive.
Please refer to our Standard Serve Fee brochure for any applicable fees regarding your dormant accounts. Note that dormancy fees will not be charged to inactive online banking and debit card agreements.
We are legally required to send a notice to the member of their dormant account typically in the early spring.
If the notice is returned, then this information, including the date of the returned mail, will be entered in our banking system. It is important to update your financial institution of any contact information changes such as address, phone number or email address.
Simply initiate one transaction every twelve months to keep your account from slipping from active to inactive. These can include such day-to-day transactions like a bill payment, a purchase using your debit card, a transaction at one our branches, ATMs or through online or mobile banking.
Once an account has become dormant, you can visit any of our YNCU branches or contact our Service Excellence Centre at 1-888-413-YNCU to either reactivate or close the account to avoid future dormant instances.
For your security and peace of mind, we take two specific actions to protect your accounts at YNCU.
You won’t be able to access your online banking after 180 days of not logging in.
Your debit card will be closed after 365 days of nonuse.
If you experience issues when logging into your online banking or using your debit card due to inactivity, visit any of our YNCU branches or contact our Service Excellence Centre at 1-888-413-YNCU to reactivate your online banking or debit card. For security purposes please do not share any of your login details or passwords with anyone.
2024 Your Neighbourhood Credit Union Limited. All rights reserved.
Your Neighbourhood Credit Union (YNCU) is a licensed credit union operating in, and under the laws of, the province of Ontario. 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) .
