About UCU

Foundations of unity and growth.

In 1944, amidst the backdrop of a world at war, the Ukrainian (Toronto) Credit Union emerged as a symbol of hope and unity. Founded by 26 visionary members of the Ukrainian National Federation, it swiftly grew, mirroring the community’s solidarity. Initially located at 300 Bathurst Street, and later moving to 783 College Street, and then adding a second location in the Junction at Dupont Street and Edwin Avenue, the credit union was more than a financial institution; it was a gathering place where the Ukrainian community in Toronto found support and strength to build their lives in Canada and to welcome refugees from post-war Europe.

Mergers, growth, and digital innovations.

In these decades, UCU embraced an era of strategic expansion and digital transformation. Key mergers with St. Mary’s Dormition Parish (Mississauga) Credit Union in 1980 and Plast (Toronto) Credit Union in 1984 and opening of its new head office building at 295 College Street, Toronto, and its new Etobicoke Branch in 1986 broadened its community impact and service reach. The late 80s saw further growth with mergers outside the GTA including Ukrainian (London) Credit Union, St. George’s Parish (Oshawa) Credit Union, and Ukrainian (Windsor) Credit Union significantly boosting membership and presence. Alongside these expansions, the 90s brought digital innovation with the introduction of telephone banking, automated funds transfers, and Internet banking, marking UCU’s proactive shift towards modern, member-focused banking solutions, as well as the opening of Thunder Bay Branch and additional mergers with Ukrainian (Sudbury) and St. Demetrius (Etobicoke) Credit Union. These new mergers and technological advancements showcased UCU’s commitment to growth, community connection, and adapting to the evolving financial landscape.

Digital process and expanding horizons.

The 2010s were marked by significant financial growth, with assets soaring beyond $500 million, with the mergers of So-Use Credit Union and United Ukrainian (Hamilton) Credit Union. UCU’s commitment to innovation was evident in the introduction of e-statements, contactless debit cards, and enhanced foreign exchange services. The opening of the Ottawa Branch and the relocation of the North York Branch to Vaughan were important  moves that expanded UCU’s physical and digital presence, ensuring that it remained a key player in the community’s financial well-being. By 2021 UCU surpassed $1 billion in assets, and with the full-scale invasion of Ukraine a year later, and once again returned to its roots, being there to welcome and assist war migrants from Ukraine to Canada just as founders of UCU did shortly after its founding in 1944. This time, with the ability to digitally onboard new members while they are still in Ukraine or enroute to Canada.