Our History

In 1939, a group from the Local One of the Canadian Union of Public Employees 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. A Credit Union was formed which became incorporated on March 18, 1941. The Credit Union serves the employees of Toronto Hydro and the Plant Electrical Engineering Department of the TTC.

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, and loyal members who retain their connection in retirement.

The Credit Union prospered and grew, and now boasts a membership of 2500 with assets in excess of $26 million, and one of the best reserves of any Credit Union in Ontario.

Each member must hold five shares of $5.00 for a total of $25.00. This entitles each member to one vote at membership meetings held at least annually, and a say in the selection of the Board of Directors.

Corporate Purpose

TEUCU Mission Statement/Vision Statement Leveraging our strengths to provide a stable financial environment, enabling growth, prosperity and wellness for our community.

Values

Trust
Loyalty
Compassion

TEUCU Commitment

To guide you on your personal journey by providing the privileges of membership.

Our Story

Welcome to an exclusive financial institution that has been meeting our member’s financial needs from start to finish for over 71 years. We believe that our members deserve an opportunity to achieve well being and help our community prosper as a whole. You will see that we offer everything you may find at a major financial institution, but with unique benefits that ownership brings.

See what our members are saying about us...

Each year the profits we make are either put towards additional free products or services, into the credit union’s financial reserve to increase our financial stability or given back to the member in the form of loan interest rebates and bonus interest.

At TEUCU loyalty is rewarded. The more you use the services of our credit union, the more you will receive. Our membership packages give our members the flexibility to avoid service charges and fees that are usually the norm at most large financial institutions.

If you have questions about our products or services please call us at 416-542 2522, visit us online at www.teucu.com, or drop in either of our branch locations, 14 Carlton Street or 500 Commissioners Street.