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. The bond of association was later expanded to all police services throughout Ontario. In 1994 the Board of Directors recognized that name needed to be changed to reflect all the police services in Ontario. This would also help the Credit Union grow and prosper. The name was changed to The Police Credit Union.
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. 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 at 3650 Victoria Park Avenue for the Corporate Offices and Toronto Branch. In 2016, the Corporate Office and the Toronto Branch moved to 105 Gordon Baker Rd.
What started as a 25¢ pledge has now grown to a full service financial institution with over $300 million dollars in assets. Five branches serve the Greater Toronto Area and are located in the regions of Toronto, Durham, York, Peel and Halton.
Today The Police Credit Union is a full service financial institution offering solutions that help our members realize their dreams today and plan for tomorrow. With competitive rates and our attractive REWARDS program, Police Credit Union prides itself on being as competitive as the major banks. The philosophy we held dear during our humble beginnings in 1946 was "not for profit - but for service" and we hold to that commitment today. The mission and co-operative principles that launched the Credit Union are still the backbone of plans and objectives today by …