News Articles

CEO Bijl to step aside at fifthieth anniversary of DUCA

New non-executive role after 26 years

Tags: Excerpts from the Windmill

WILLOWDALE, Ontario - President and CEO Cees Bijl plans to officially step down from his leadership role at DUCA Financial Services Credit Union, on the day of the cooperative bank’s 50th anniversary. Executive Vice President Jack Vanderkooy has been appointed Bijl’s successor. Bijl will remain with the highly successful organization in a non-executive position as Vice President, Investments. He has been at DUCA’s helm for 26 of its 50 years.

Vanderkooy was one of the first people Bijl hired at DUCA. Since then, Vanderkooy has taken on increasing responsibilities, in 1984 becoming Assistant General Manager. He has been Executive Vice President for some time.

The history of DUCA, founded to pool hard-earned resources in the community, is closely intertwined with that of post-WWII Dutch immigration to Canada and settlement in the Toronto region. The fledgling financial institution at first also played a key role in weaving the community’s social fabric, serving as an umbrella for a range of activities, including a choir, annual Sinterklaas parties and other festive and social gatherings.

In recent decades, DUCA has been an industry leader, developing financial concepts such as its Bonus Shares which members earn by doing business with the Credit Union. Since 1999, DUCA has issued $22 million in such shares with some member accumulating more than $10,000.

As the 12-branch DUCA nears its 50th anniversary, it boasts a membership of 31,000, has accumulated $41 million in capital and reserves, and an asset base of $560 million, making it one of the largest of its kind in Ontario.

In 1977, when CEO Bijl was appointed GM to succeed Mrs. Van der Stouwe, the 10,000 member DUCA had $760,000 in capital and reserves, and assets of $25 million.