Credit Union History
The co-operative movement originated in the eighteenth century in Europe. It was established on the idea of mutual help within a specified community. By the end of the century this idea spread to Quebec where Alphonse Desjardins founded the first Canadian Credit Union.
Our Credit Union was founded on August 9, 1945. It was established by Oblate Fathers - Father Stanley Puchniak, OMI, Pastor of St. Stanislaus Parish in Toronto and his assistant Father Michael Smith, OMI. The second office was set up in 1958 at St. Casimir's Parish in Toronto to serve the growing needs of the Polish community.
Our Credit Union received its charter on August 9, 1945. The legal basis of Credit Union activity is the Credit Unions and Caisses Populaires Act, 1994 - the legislation enacted by the Government of the Province of Ontario, and the Credit Union by-laws.