Polish Credit Union - About Us - History of The Credit Union

Tuesday, January 6, 2009

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About Us - 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 Father S. Puchniak, OMI, Pastor of St. Stanislaus Parish in Toronto and his assistant Father M. Smith, OMI. The second office was set up in 1958 at St. Casimir's Parish to serve the growing needs of the Polish community.

1979	Bloor Street branch opens in Toronto.
1984	Guelph branch opens and a new Mississauga branch at St. Maximilian Kolbe Parish.
1984	A collection point was established at "Copernicus Lodge" Senior Citizens' Home in Toronto.
1986	Merger with Polish Veterans Credit Union in Toronto.
1987	Merger with Sacred Heart Credit Union in Kitchener; and new branch in Guelph.
1988	Merger with St. Aloysius Credit Union in Kitchener and the opening of St. Hedwig branch in Oshawa.
1989	St. Maximilian Kolbe branch moved to a new location at Dixie Road in Mississauga.
1990	Merger with Polish Alliance Credit Union in Windsor and Polish Combatants' Credit Union in Toronto, and the opening of new branch on Lakeshore Boulevard in Toronto.
1991	Merger with Polish Alliance Credit Union in Hamilton.
1992	Purchase of Polish National Credit Union in Toronto.
1992	St. Stanislaus Polish-Canadian Bank S.A. in Warsaw opened on June 15.
1993	Purchase of Polish Alliance Credit Union in Toronto.
1995	"Tatry" and "Summerville" branches in Mississauga are opened and a merger occurs with St. John's Parish Credit Union in Toronto.
1996	Oakville branch opens and a merger occurs with St. Leo's Parish Credit Union in Toronto and the Records Employees Credit Union in Kitchener.
1997	Scarborough branch opens.
2002	Merger with the Polish Credit Unions in Ottawa and St. Catharines.
2003	Merger with Polish Credit Union in London.
2005	St. Eugene de Mazenod branch opens in Brampton.
2006	Karpaty Markets branch opens in Brampton.

CHARTER

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.

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