In 1939, a group from Toronto Hydro determined
that the dignity of the worker was undermined
by the banks,
which at that time would not lend money to a worker without a letter of recommendation from the employer. As such The Toronto Electrical Utilities Credit Union Limited was formed and became incorporated on March 18, 1941. On December 3rd, 2010 the Credit Union received official news that its application for a new corporate name change to The Energy Credit Union Limited was approved.
The Credit Union was founded on democratic principles, to provide savings and loan facilities for the members and their immediate families, and includes employees from all areas of our bond, management as well as union as well as the loyal members who retain their connection in retirement.
The Credit Union continues to prosper and grow, and now boasts a membership of over 4000 with assets in excess of $85 million.