Welcome to the Latvian Credit Union Ltd.

Latvian Credit Union

(416) 922-2551




Ceturtdien, 2019. gada 28. novembrī

Ar šo paziņojam, ka Toronto Latviešu Kreditsabiedrības Ltd (turpmāk – Kreditsabiedrība) biedriem tiks noturēta ārkārtas sēde Latviešu Centrā, 4 Credit Union Drive, Toronto, Ontario, M4A 2N8 ceturtdien, 2019. gada 28. novembrī plkst. 18:30. Reģistrācija sāksies plkst. 18:00.

Ārkārtas biedru sēdē svarīgas lietas:

  1. Apspriest un, vēlams arī apstiprināt, atbilstoši Kreditsabiedrību un Caisses Populaires Aktam, 1994, sekcijai 309, kur īpaša rezolūcija apstiprina Kreditsabiedrības ierosināto apvienošanos ar Igauņu (Toronto) Kreditsabiedrību (turpmāk – Igauņu), un atļaut veikt biznesu ar Igauņiem, kā viena apvienota kreditsabiedrība, ar jaunu nosaukumu, kas tiks pasniegts ārkārtas sēdē, atbilstoši apvienošanās līguma noteikumiem un nosacījumiem starp Kreditsabiedrību un Igauņiem, kas datēts 2019. gada 31. augustā. Ierosinātās īpašās rezolūcijas kopija ir pievienota šim sēdes paziņojumam.
  2. Turpināt iesākto un, ja citas ierosinātas darbības izriet sēdes laikā, tās risināt līdz sēdes slēgšanai.

DATĒTS 2019. gada 5. novembrī



  1. Apvienošanās ir nodota apstiprināšanai pēc Kreditsabiedrības biedru īpašas rezolūcijas.
  2. Tikai biedri, balstoties uz Kreditsabiedrības ierakstiem 2019. gada 4. novembrī (“Ieraksta datums” saskaņots ar Kreditsabiedrības nolikumu), ir tiesīgi balsot ārkārtas sēdē.
  3. Lai balss skaitītos, Kreditsabiedrības biedriem sēdē ir jābūt klāt personīgi. Kreditsabiedrības biedri, kas ir juridiskas personas (korporācijas, uzņēmumi, asociācijas u.c.) var balsot ar pilnvaru, kā atrunāts Kreditsabiedrības nolikumā.



  1. The agreement to amalgamate entered into between the Credit Union and Estonian (Toronto) Credit Union Limited ("Estonian") dated as of the 31st day of August, 2019 (the "Amalgamation Agreement"), whereby the Credit Union and Estonian would amalgamate and continue as one credit union, to be known as "XX Credit Union Limited", be hereby adopted and approved without amendment or variation.
  2. No further approval of the members of the Credit Union be required if the Board of Directors of the Credit Union determines, in its sole and absolute discretion, that the conditions precedent for the benefit of the Credit Union contained in the Amalgamation Agreement have not been met, and that the Credit Union will therefore not complete the transaction contemplated by the Amalgamation Agreement.
  3. Any officer or director of the Credit Union is authorized and directed to execute and deliver, in the name and on behalf of the Credit Union and under its corporate seal or otherwise, all such certificates, instruments, agreements, articles, notices, affidavits and other documents, and to do all such other acts and things, as in the opinion of such person may be necessary or desirable in connection with the Amalgamation Agreement, and with the performance by the Credit Union of its obligations thereunder.

Estonian and Latvian Credit Unions Sign Historic Amalgamation Agreement

September 11, 2019

The boards of the Estonian (Toronto) Credit Union Limited (ECU) and Latvian Credit Union Limited (LCU) today announced that they have approved an amalgamation agreement and business plan for submission to the Financial Services Regulatory Authority of Ontario for regulatory review, after which members will be asked to approve this amalgamation.

After a thorough due diligence process and collaborative business planning, the two community-based credit union boards have determined that both credit unions will be stronger as a result of the amalgamation.

In an increasingly fast moving world, where digital banking and technology are taking center stage, we will be better able to serve our members with the latest products and services, while continuing to provide an ongoing link to our cultural and historic roots and support of our communities.

History of Collaboration

The Estonian and Latvian people have a long history of collaboration as neighbours on the Baltic Sea and as kindred communities in Toronto. By joining together, we can continue to provide the security and comfort of our very own banking institution that cares about its members and gives back to our communities, while providing access to the latest modern banking services.

Members and Employees Come First

As co-operative financial institutions, our members always come first. Both ECU & LCU have worked hard through the due diligence and business planning process to ensure the best interests of our members continue to be top priority and at the forefront of the amalgamation process.

Employees of both credit unions will have improved opportunities for professional development and career advancement, while continuing to work in an environment supportive of their ethnic cultural heritage and community.

Location of Branches

ECU is located in Toronto and currently serves the Estonian community with over 4,700 members. ECU is deeply involved in the community and will, within the next couple of years, be re-locating to the newly built International Estonian Centre on Madison Avenue near Bloor Street & Spadina Avenue.

LCU is located in Toronto, with a branch in Hamilton, and currently serves the Latvian community with over 1,500 members. LCU is also deeply rooted in the community and with the additional resources from the merger, will be expanding products and services, as well as focusing on greater involvement within the Latvian community.

All three branches will become part of the amalgamated credit union and will be open to all members.

Next Steps

We anticipate the amalgamation agreement will receive regulatory approval. Once approved, the agreement will be voted on by both memberships at Special Meetings, which we expect to call in November.

Subject to normal conditions of regulatory and membership approvals, the amalgamation is slated to take effect January 1, 2020.

As we move forward into this exciting new phase together, and look ahead to the next 60 years, we will need to develop a new brand and identity that speaks to all our members and potential members in our communities; hopefully with an eye to attracting other Baltic credit unions to join us, and new members from the multi-cultural Toronto community. We will look to stay true to our roots and cultural heritage and proudly share these, strengthening our communities and ensuring our growth.

Get Involved

We will be engaging you, our members, to be part of this journey as we keep building a strong credit union. We are currently looking for volunteers from both ECU and LCU memberships who want to be part of creating our new brand and identity by taking part in focus groups and surveys. Are you interested? Please reach out to Martins Gaide at gaide@kredsab.ca for more information.



LCU daily limits for debit card use.


POINT of SALES - $ 500.00 TOTAL of both in one day - $ 800.00



Please ensure there are sufficient funds in your CHEQUING account to make cash withdrawals from ATM machines. It is the ONLY type of account you can draw money on. There are no point of sales options in Europe using the debit card because it is related to the Canadian Banking System.


The Latvian Credit Union Ltd. is a modern, full service financial institution with two branches serving over 2,000 members since 1959.

We operate differently than banks, as we are not in the business to make money. We are in the business to serve our members!

We offer a high level of personalized service in both English and Latvian.