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e-Transfer Update Memo

To our members: As part of Ladysmith & District Credit Union's commitment to provide support to all our members and local businesses, effective immediately all Interac e-Transfers can now be performed at no cost to you!

We appreciate all of our members co-operation in our attempt to minimize COVID-19’s affect on our small community.

Whether a member of LDCU or not, we value everyone!

COVID-19 Mask Requirement

During this COVID-19 crisis, and as part of a new series of measures announced by our provincial health officer, Ladysmith & District Credit Union, LCU Insurance, and LDCU Financial Management have implemented a policy to protect our members and our employees.

As part of this process, we now require all employees, members, and clients to wear a face mask or appropriate face covering when entering any of our branches or subsidiaries.

We appreciate your cooperation and thank you for your understanding. Please be safe!

Business Members can now sign up for CRA direct deposit information for the Canada Emergency Wage Subsidy (CEWS) through Ladysmith & District Credit Union!

The federal government has rolled out a new wage subsidy to support employers that are hardest hit by the pandemic, and protect the jobs Canadians depend on.

The subsidy covers 75 per cent of an employee’s wages – up to $847 per week - for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15 per cent in March, and 30 per cent in April and May. This program is in place for a 12-week period, from March 15 to June 6, 2020.

To ensure fast and secure payments, employers can now register business payroll accounts for direct deposit with the CRA through Ladysmith & District Credit Union online banking.

Please noteApplications for the CEWS benefit must be made directly through the CRA​. Once you are approved for the CEWS benefit, registering for the CRA direct deposit for businesses service helps ensure your CEWS payment from CRA is quickly and securely deposited into your business payroll account.

CRA Direct Deposit for Business Members FAQs

Canada Emergency Response Benefit (CERB)

Sign up for direct deposit now to ensure your benefit payments arrive sooner!

We can help you sign up for direct deposit or update your direct deposit information with the Canada Revenue Agency (CRA). We encourage you to use direct deposit to avoid any delays and receive your payments faster.

You can receive these CRA payments through direct deposit:

  • income tax refund
  • Canada child benefit
  • goods and services tax/harmonized sales tax (GST/HST) credit
  • Canada workers benefit
  • related provincial and territorial payments
  • the new Canada Emergency Response Benefit

Please note: If an individual has never filed a tax return with the CRA, they are not eligible to sign up for the CRA direct deposit service through their financial institution. To sign up for direct deposit or update your personal details, simply login to Online Banking and navigate to Account Services.

CRA Direct Deposit FAQs

Board of Directors Update

The two directors whose terms are expiring at the Annual General Meeting in 2020 are Tim Richards and Dave O’Connor. In addition, there was also one vacant seat left by a director retirement.

The official date for submitting nominations to the Ladysmith & District Credit Union closed on February 21, 2020. There were three nominations packages received: two submitted by the incumbent directors, and one from a member at large. As the total packages received equaled the number of vacancies, the Nominating Committee, as outlined in Section 4.14 of the Credit Union Rules, declares the three members elected via acclamation. Please see their biographies below for their contributions to the Credit Union and community to date.

Tim Richards

Tim has lived in Ladysmith since 2000, and joined the Board of Directors at the Annual General Meeting in April of 2005. Tim's involvement with the Credit Union system has roots from his childhood, as his father was the manager of the Dogwood Credit Union for many years. Tim has a background in public sector management and has operated his own parks and recreation consulting business since 1980. He has been instrumental in the construction and upgrading of several parks in Ladysmith in a consulting role, and currently serves as Chair of the Parks, Recreation and Culture Advisory Committee to Town Council. Tim has served as the Recording Secretary of the Board, and has also serviced on the Management Committee, and Investment and Lending Committee. In addition, Tim is a graduate of the Credit Union Director Achievement Program.

David O'Connor

David has lived in Ladysmith since 1985 and raised his family here with his wife Terrena. He joined the Credit Union in 1995 and became a board member in 2010. David is self-employed as a lawyer and has practiced in Ladysmith his entire career spanning over 30 years. David has a strong commitment to community values which, together with his legal expertise, makes him well suited to serve on the Board. David has served on the Audit, Governance, Nomination, Investment and Lending, Bursary, and Conduct Review Committees. Dave is also a graduate of the Credit Union Director Achievement Program.

Carol Warkentin

Carol moved to Ladysmith in 1983, and has been here since, raising her 3 children and now enjoying her grandchildren in this great community. After moving here and purchasing her first home in 1985 she has continued to be a member of the Ladysmith District Credit Union, grateful to have chosen a financial institution that assisted her with the purchase of her first home, during a time when rates were very high and employment was scarce. Believing that "giving back to community" is one of her core values, Carol has been, and continues to be, a member of different service groups and committees, such as the Fraternal Order of Eagles, Ladysmith Rotary, and the Ladysmith Ambassadors throughout the years.

Carol's passion and enthusiasm for real estate led her to becoming a licensed real estate agent in 2010. Prior to becoming a realtor, she worked for a local oil company for 17 years, and during this time she was also, (and continues to be), heavily involved in the business of building and developing land, as a Licensed Builder and Developer.

In Carol's spare time she enjoys travelling and exploring different places in the world, spending time with her children/grandchildren, along with camping and fishing.

LDCU 75th Anniversary Video

Ladysmith & District Credit Union 75th Anniversary from LDCU on Vimeo.

Love our Heritage account? Be ready to love it even more!

We have re-branded our 60+ account from Heritage Chequing to MORE than FREE Senior Chequing. What does this mean for Heritage members? A new account name and No Monthly Service Package Fees!

View Details

LDCU Commercials!

Looking to better your lifestyle? LDCU Offers MORE Than a Mortgage! For child education, retirement, or even home renovation! Great flexibility to help you realize your goals!

LDCU Mortgage Helper from LDCU on Vimeo.

Looking to better your lifestyle? Why rent when you can own!

Check out our very first commercial featuring our innovative new product, "MORE Than a Mortgage". Great flexibility to help you realize your goals!

LDCU "MORE Than a Mortgage" from LDCU on Vimeo.

Historic Grand Opening for Oyster Bay Development

e-Transfers - Activate your account today!

LDCU now offers e-Transfers! Contact us today to activate your account for free so that you can transfer money directly to anyone with an email address or phone number.

Interac e-Transfer is rapidly becoming a preferred method in Canada for customers to send and receive money between accounts. With the speed, convenience and security of Interac e-Transfer, your customers can transfer money directly to anyone with an email address or phone number — a valid email, or mobile phone number and a Canadian bank account are the only requirements.

Unlike other transfer options that can take several days to complete and route funds through stored value accounts, an Interac e-Transfer is executed directly between accounts at financial institutions, which happens within minutes.

Key benefits

  • Send and receive money from a desktop computer or web-enabled mobile device
  • Transfer money instantly to anyone with a Canadian bank account, using only an email address or mobile phone number
  • No account information is exchanged between senders and recipients
  • Recipients are notified by email or text message when a transfer has been sent

For more information from Central 1 (Your Credit Union’s Credit Union), see

Protect your accounts with Text Alerts!

At Ladysmith & District Credit Union, we understand that you want to be aware and in control of your finances at all times. Whether you want to monitor changes in account balances, receive proactive notifications about suspicious or fraudulent activity, receive updates about security features or general online banking activity, with MemberDirect® Alerts, you can monitor account movement effortlessly.

Key benefits

With MemberDirect Alerts, we can notify you with text messages (SMS) or emails of the following types of activity:

  • Balance alerts flag insufficient funds or when account balances drop below a predefined minimum
  • Transaction alerts are sent when predetermined limits have been exceeded on deposits or withdrawals and notifies when bill payments could fail
  • Security alerts detect account activity such as the addition of a new bill payment vendor, or if a customer’s Personal Access Code has been changed

How to signup

Simply login to Online Banking, click on Messages and Alerts on the left, and select Manage Alerts to enter your contact information and select your preferred alert options. Alternatively, you can view our detailed instructions for more information.

For more information from Central 1 (Your Credit Union’s Credit Union), see

LDCU Launches e-Statements

Ladysmith & District Credit Union is pleased to announce the inclusion of an "e-Statement" option when producing the member's monthly statement. Beginning June 2012, members can "opt-out" of receiving paper statements in the mail, and choose instead to view their statements online. This option not only allows more instant access of information to the member, but also saves the $2.00 statement fee which is included in most banking packages.

For Ladysmith & District Credit Union, this option serves as another way to provide quality service while enabling the organization to reduce its environmental impact.

Simply look for the e-Statement option when signing into MemberDirect® Internet Banking, and change your statement preference today!


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