What is a Credit Union?

A credit union is a full service financial institution that is owned by its members.  But how is it "owned" you might well ask?  Bayshore's current membership policy requires members of the credit union to who are over the age of eighteen to have a minimum of $65 in their shares account.  Over the course of the next ten years, members are expected to increase the amount in their share account by $15 per year.  At the end of five years, each member will have $200 (or more) in the share account.

Credit unions offer all of the services that a bank or trust company would, but usually charge lower fees and rates for those services.

All credit union members are required to purchase a share in the credit union when they become a member. Members are then entitled to attend the annual meeting of the credit union, receive financial statements, vote on policy issues which may come up for discussion and even run for the Board of Directors.

Credit Unions are socially responsible financial institutions with a keen interest in the welfare of their members and of their communities as a whole.

Bayshore's History

Bayshore Credit Union Ltd. was granted its charter in October 1952 and served as CNR Employees (Belleville) Credit Union Ltd. until 1971.

Membership was then opened up to the community and the name was changed to The Belleville Community Credit Union Ltd. The credit union changed its name to Bayshore Credit Union Ltd. in 1988, when they opened a branch in the city of Trenton.

A third branch was established in the village of Frankford in 1990. Membership in Bayshore Credit Union Ltd. is open to everyone in the Quinte region and surrounding areas.

Look for our complete annual report online...coming soon!