History

over 67 years of service....and counting

In its first 67 years of operations, Ukrainian Credit Union Limited has helped tens of thousands of Ukrainian Canadians and others, immigrants and locally born, with their financial needs. The road was not always smooth, but with skill, determination, and sheer hard work, we have built an organization that will continue delivering superior service in the coming decades.

Early Ukrainian settlers in Canada arrived for the most part with few assets, little disposable cash, and often only a rudimentary financial education. Only by organizing and helping each other could they hope to thrive in their adopted homeland. Community-based credit unions in Canada grew out of this need. In 1939 the first Ukrainian credit union, New Community, opened in Saskatoon, Saskatchewan. The next year the Carpathia opened in Winnipeg, Manitoba. Learning from these pioneers, the first Ontarian credit union was founded by the lake in Hamilton in 1943. The Ukrainian National Federation followed suit here in Toronto in 1944 by establishing our first branch: The Ukrainian (Toronto) Credit Union. Initially, 26 UNF members participated in the charter. By the end of the year, membership comprised 91 members with nine outstanding loans totalling $17,600.

 

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