An update on COVID-19 and how we’re here to support our members

At Rapport, we know that our strength is in our relationships with members.  More than ever, we want you to know that we are committed to both your safety and your financial wellness in everything we do.   We will continue to use this page as a way to update you on what we are doing and the efforts we are making to protect the health and financial wellbeing of our members, employees and their families while continuing to meet your financial needs. Please check back often.

We are abiding by all government guidelines to protect our communities as we stay open as a deemed essential service.  However, to ensure we are being the best corporate citizens, we have adopted a framework for our branches based on the Ontario Government’s public safety measures.  It is important you know that we will always be a phone call or email away as we continue to answer questions, provide advice and offer solutions to our members.

What are our current branch hours?

Due to the current State of Emergency in the Province of Ontario all Rapport branches will be observing the following:

  • Limited Capacity

  • Masks Required

  • Social Distancing

  • Reduced Hours

  • Essential Services Only

  • Member Screening

  • Doors Locked

In addition to the provincial health measures, some municipalities and local medical officers of health have added their own regional restrictions or requirements. Check your local public health unit or municipality's website for details using the links below.

Local Public Health COVID-19 Links

What are the essential services we are offering in branch?

For those members who need to come in, we are reserving these hours for in branch appointments and possible member walk-ins for essential services only. 
Just call your branch to make an appointment.

The following are deemed as essential services so we can continue to support members who need:

  • New or replacement debit cards

  • Bank drafts

  • To close on a current loan or mortgage

  • Emergency lending services

  • To make a cash withdrawal exceeding ATM Limits

While you are in the branch, we will be practising social distancing. 

What does social distancing look like in a branch?

In keeping with Public Health recommendations, we require that members and employees maintain a distance of at least 6 feet or 2 metres away from each other at all times.   To make sure we can maintain the proper social distance, we will only be able to allow three members in the branch at a time.

We want to hear from you whenever you have a question or are concerned about your financial situation and that’s why our Member Assistance Call Centre is even more important than usual.

What hours is the Call Centre open during this time?

Our Member Assistance Call Centre hours are not changing and there will be no reduction in service levels. Our team is available Monday to Wednesday and Fridays from 8 a.m. to 4:30 p.m. and on Thursdays from 8 a.m. to 5 p.m.   Of course, if call volumes increase, we will review and make decisions in the best interest of our employees and our members. We ask for your patience with us should wait times increase due to added call volumes.

What is Rapport doing to help prevent the spread of COVID-19 in our branches and offices?

To stop the spread as much as possible, we are making sure that we disinfect high-touch areas such as ATMs, counters, doorknobs, handles, desks, workspace stations telephones, keyboards etc. throughout the day.  We are also making sure that we are doing the following.

  • Thoroughly washing hands after each member interaction and using hand sanitizer (greater than 60% alcohol-based) during transactions, especially when money is exchanged.

  • Avoiding direct physical contact with members, no hand shaking or hugs as much as possible.

  • Practicing social distancing from one another by staying at minimum of 6 feet or 2 metres away.

  • Magazines, brochures and papers have been removed from waiting areas or common rooms.

  • Operating in a controlled access environment, which means our normal open access will change.

What does “controlled access” look like?

To maintain our commitment to social distancing and to protect the health of our members and employees, our branch doors will be locked during operating times.   We will only allow a maximum of 3 members in the branch at any given time.   All incoming members or visitors will be screened, using the questions below, for potential illness before branch staff welcome you into the branch.  

Screening Questions:

  1. Are you experiencing a fever, new cough, muscle aches, fatigue, headache, sore throat, runny nose, diarrhea or difficulty breathing (or a combination of these symptoms)?
  2. Have you travelled outside of Canada in the last 14 days (including the United States)?
  3. Have you been in contact with someone who has COVID-19, i.e. someone in your household or workplace?
  4. Have you been in contact with someone who is sick with respiratory symptoms i.e. cough, fever, difficulty breathing, or who has recently travelled outside of Canada?
  5. In the last 14 days, have you been diagnosed with COVID-19 by a lab test or are you waiting for results of a lab test for COVID-19?

If you have answered yes to any of those questions, we will ask you to please contact us by phone or email instead of coming into the branch.

Is Rapport able to offer deferral payments on personal loans or mortgages?

We know that our members may be faced with financial difficulties due to COVID-19 related events.  As your financial advocate, we are taking additional measures to assist our members and their families financially during these challenging times.

That means we are here to help you with your personal loans and mortgages

We understand that given the evolving situation and the uncertainty that it brings, our members impacted by COVID-19 may be faced with making difficult financial decisions.  We want to help you make the best possible financial decisions now, to lessen the impact on your long-term financial wellness.  We are here to answer your questions, provide guidance and offer solutions.  We are all in this together. 

We will be offering eligible members the option to defer their payments on a personal loan (up to 4 months) and/or mortgage (up to 6 months) until further notice.   A personal line of credit will be eligible for interest-only payments.

Mortgage insurers CMHC and Genworth announced additional payment relief options due to the COVID-19 outbreak, for which our qualifying mortgage members would be eligible.

Payment deferral requests must be directly related to COVID events. 
To see if you qualify, please contact us immediately.

Is deferring a payment the right choice for you?

There are both positive and negative financial impacts to consider when deciding to defer a loan or mortgage payment.  So, it’s really important that you talk to your Personal Account Manager and read our current newsletter.  They are ready to help you make the best decision for your circumstances.  After all, your circumstances are as unique as you.

We also encourage our members to review all financial assistance options available to them through the Government of Canada website.

Manage your Canada Revenue Agency direct deposit information through Rapport

Applying for the Canada Emergency Response Benefit? Sign up for direct deposit through online banking now to ensure your benefit payments arrive sooner!

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

It’s easy, log into your online banking account (desktop only), click on “Account Services” and find “Setup CRA Direct Deposit” where you can access a form which will simply and securely transmit your details to CRA.

Once you provide consent for your banking information to be shared with the CRA, your direct deposit information will be updated to CRA by Rapport the following business day. The CRA aims to process your direct deposit enrolment or information updates in one or two business days.

If you need help signing up for direct deposit, or to update your personal details please contact us at Member Assistance 1 888 516 6664.

Please note, if you have never filed a tax return with the CRA, you are not eligible to sign up for the CRA direct deposit service through Rapport. Please contact the CRA directly.

2020 RRIF & LIF Minimum Amount – 25% Payment Reduction May Be Possible

With the current volatility and losses in the market as a result of the COVID-19 outbreak, the government has made changes to Registered Retirement Income Fund (RRIF) 2020 minimum payment requirements. This change includes all RRIF products and Life Income Funds (LIFS).

RRIF annuitants can request a 25% reduction to their 2020 minimum payment. For example, if your 2020 minimum amount would have been $10,000, the reduced amount will be $7,500.

For any member that has not received their full minimum payment already this year, a payment reduction can provide relief to members concerned about redeeming assets in the volatile market and potentially reducing the long-term value of their assets.

How can Rapport Help?
If you wish to continue your RRIF payments with no change, no action is required on your part.
As every member’s financial situation is as unique as they are, we encourage all members impacted by this change to contact your Rapport Financial Advocate whether your RRIF is with Rapport or not, to discuss your options and how this change may affect your financial wellness now and into the future.

Contact Us – Member Assistance – 416 925 1107 – 1 888 516 6664 –

How does all of this affect Rapport’s financial position?

It’s also important for you to know that as a business, we are well positioned to sustain the current economic environment that COVID-19 has caused.  To adapt to this changing environment we have recently updated our loan rates and as well as our deposit rates.  Sufficient liquidity continues to exist and as such business will continue as usual, bills will be paid, members will be able to borrow, and our employees will continue to be paid. 

Like always, our commitment is that as we adapt to the changing environment, we will keep the interests of our members, at the forefront of any decision that we make.

Are the deposits of our business/commercial members insured through FSRA (formally DICO)?

During this time, members’ business deposits continue to be insured at the same level. The Financial Services Regulatory Authority of Ontario (formally DICO) insures deposits of a business at each Ontario credit union up to a maximum of $250,000 for all business types, except sole proprietorships. Deposits for eligible business accounts are insured separately from deposits held in the names of any of the individual principals.

“Sole Proprietorships” do not benefit from separate deposit insurance protection, as they are not separate legal entities. As a result, deposits in the individual’s name will be combined with the deposits of the “sole proprietorship”. To be eligible for deposit insurance, deposits must be payable in Canada, in Canadian currency, by an Ontario credit union.


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