Our History
In business since 1939, FirstOntario Credit Union serves over 71,000
Members and offers a full suite of banking products including daily
banking, mortgages, lines of credit, loans and investments. FirstOntario
has over $2.2 billion in funds under management and currently has
17 branches serving 11 communities within the Hamilton, Halton, Niagara
and Haldimand/Norfolk regions. Membership is open to anyone living
or working in the areas in which FirstOntario operates.
When it all began:
- 1939 A dedicated group of Stelco Steel Company
employees in Hamilton, Ontario create the Stelco Employees Credit
Union Hamilton Works Limited. They had $54.45 in capital and an
initial loan request of $50.00.
- 1949 The St.Catharines Auto Workers' Credit Union
opens their doors to serve General Motors employees.
- 1981 St.Catharines Auto Workers' Credit Union
becomes an open bond credit union and welcomes everyone from the
community. They changed their name to Family Savings & Credit
Union (Niagara) Limited.
- 1987 Stelco Employees Credit Union changes its
name to Avestel Credit Union to reflect their conversion to a community-based
and open bond credit union.
- 1999 Avestel and Family Savings vote in favour
of merging. Sept. 1st of that year sees the creation of Avestel
Family Savings Credit Union.
- 2000 To better reflect its commitment of putting
Members first, the credit union changes its name to FirstOntario
Credit Union.