History

In 1946 a young policeman, Harold W. Anthony, had a vision and convinced 25 employees of the Toronto Police Force to sign their names and pledge a 25¢ membership commitment each to establish the Toronto Police (Employees) Credit Union Limited. The mission was to provide economical, confidential, convenient service with low cost loans to fellow employees.

In May 1967, the name changed to Metro Toronto Police Credit Union Limited, and the present name change to the Police Credit Union came about in 1994.

Our first real branch location was in the basement of the former No. 5 Division on Davenport Road. Later for a rental fee, we were given a room above what was then No. 12 police station on Yonge Street, our first external office space. As the Credit Union grew, so did the requirement for space. In February 1960, the membership consented to purchase (for $177,000) property on Yonge Street, just north of the 401. In 2003, the Yonge and Sheppard property was sold and new premises were leased on the third and first floors at 3650 Victoria Park Avenue for the Corporate Offices and Toronto Branch.

In the early years, the Toronto Police (Employees) Credit Union was organized to provide certain financial services for employees of the Toronto Police Force.

• First to receive monies on deposit from members as payment for shares
• Secondly for making loans to members for provident purposes

As the Credit Union industry grew and matured, so too did the services. We have had numerous bylaw changes throughout the years, which allowed the Credit Union to navigate uncharted waters in product development:

• In 1948, we started payroll deduction. This is now automated to allow direct deposit of total pay.
  
• With bank machines (ATMs) at almost every corner, you can access your Police Credit Union accounts anytime, anywhere using your Member Card.
  
• And you can make retail purchases (POS) at the largest department store or the smallest corner store through the INTERAC® Direct Payment network.
  
• In 2000 we launched our website and introduced Home Banking to our membership. In 2009, the website was updated to highlight increased functionality for Smart Phone access.