The Fire Department Employees Credit Union - Toronto, Ontario
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Our Family, Your Future

 

 

 

 

 

A Little Bit of History

It All Began in 1941...

In 1941, while the rest of the world was embarking on war, the founding members of our Credit Union were intent on building a strong financial future for firefighters and their families.

The first offices were located in fire halls, wherever there was available space, until the purchase of our current Avenue Road site in 1993.

The first mortgages were approved in 1948 and the terms were simple. The amount could not exceed $3,500 taking into consideration that department salaries that year started at $2,191 and climbed up to the $7,000 earned by the Chief. While times have changed and today houses cost a lot more money, the Credit Union continues to offer competitive interest rates and makes home ownership a reality for thousands of its members.

While many debated the benefits of bricks and mortar in this technology era our members have realized the convenience of virtual banking and automated services. As a member of The Exchange Network of ATMs, a multi-national ATM network made up of more than 250 Canadian financial institutions as well as several in the United States, our members enjoy access to their accounts 24/7 with no transaction fees. Online banking, telephone banking, including bill payments, money transfers and loan applications also plays an integral part in reaching out to our broad membership.

With a full complement of financial services, including ATM and debit card access, chequing accounts and a host of savings and loan products, the Credit Union continually looks for ways to address the financial needs of its members. The Credit Union strives to maintain prudent operating costs with minimal, if not free, service charges.

Since its formation in 1941, the Credit Union has grown and prospered. From an initial membership of 21, with assets of $3,278, today we have more than 4,500 members and assets totalling approximately $68 Million.

 

© 2009 The Fire Department Employees Credit Union
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