Our Profile & Mission
Ontario Educational Credit Union — a full-service financial institution dedicated exclusively to the educational community across Ontario. Member-owned, member-focused, always.
"It is the goal of the Ontario Educational Credit Union to be the primary provider of financial services for our Members."
We will improve the lives of our members by providing cost effective personal financial solutions accompanied by an excellent owner experience.
A Credit Union Built for Educators
Ontario Educational Credit Union is open to all active or retired educational employees and their families throughout Ontario. We are the financial institution dedicated to, and specializing in serving, the unique needs of the educational community.
Unlike banks that answer to shareholders, we answer to our member-owners. Our Board of Directors and leadership are committed to exceptional service — not high-pressure sales tactics or up-selling. You come first, always.
We have and continue to develop products and services to benefit the uniqueness of our membership, including policies that support members should they become involved in a job action resulting in an interruption of income.
A History of Serving Ontario Educators
From a small teacher's credit union in 1962 to a province-wide institution serving all educational employees in Ontario — here's our journey.
Two Credit Unions Are Founded
Teachers in the Toronto Township School Board formed a credit union for teachers in their jurisdiction. Simultaneously, teachers in the Central Peel Secondary School formed their own credit union — both dedicated to serving Ontario's educators.
Peel Board of Education Credit Union
The two founding credit unions merged to become the Peel Board of Education Credit Union. Over the following years, the Credit Union grew rapidly alongside the municipalities served by the school districts, expanding to include employees of Sheridan College, the Dufferin Peel Roman Catholic School Board, and the Peel District School Board.
Peel Sheridan Dufferin Educational Credit Union
To reflect the expanding bond of membership, the Credit Union changed its name to the Peel Sheridan Dufferin Educational Credit Union, reflecting its growing reach across the region.
The Peel Educators' Centre
We were instrumental in organizing Peel teacher federations to construct the Educators' Centre — a home for both the Credit Union and the federations. The Peel Educators' Centre opened in the fall of 1993, and we remain its major partner to this day.
Standing By Members During Job Actions
We have established policies that support our member-owners should they become involved in a job action resulting in an interruption of income. We positively supported our members in 1979, 1981, 1997, and 1998 during income interruptions — and will be there in the future should the need arise again.
Bond Expands Province-Wide
As a result of efforts to protect the deposits of members of the OPSTF Credit Union, our bond was expanded to include all educational employees in Ontario not currently served by a closed bond educational credit union — opening the doors to educators across the entire province.
Ontario Educational Credit Union Limited
On December 14, 1998 our name was officially changed to the Ontario Educational Credit Union Limited to reflect the expanded province-wide bond and our commitment to all of Ontario's educators.
Merger with Simcoe County Educational Credit Union
Simcoe County Educational Credit Union, located in Barrie, voted to join Ontario Educational. The merger was completed in May 2000, improving services offered to members throughout Simcoe Muskoka and marking a significant milestone in our growth.
Guiding Principles
Five core principles guide every decision we make as a member-owned financial institution.
Full-Service Closed BondFulfilling the need within the Ontario educational community for a strong, full-service closed bond credit union to serve the financial needs of all educational employees and their families.
Personal & Professional ServiceThe service offered by the Ontario Educational Credit Union must be personal and professional and of financial benefit to the membership.
Personal & Electronic AccessService must be available to the membership on both a personal and electronic basis — wherever and whenever our members need it.
Measured by Member SuccessThe success of the Credit Union will be measured in terms of how well we meet the needs of the membership we serve — not by profit or growth alone.
Knowledge & ProactivityThe Credit Union must remain knowledgeable of and proactive to events within both the financial community and the educational community.
Supporting Our PeersOntario Educational supports the success of other closed bond educational credit unions. We will not compete or solicit membership at boards that already have an established closed bond credit union.
Board of Directors
Members participate in determining our direction through the annual meeting and election of directors. One-third of the Board is elected each year — all members over 18 are eligible to run.
Who Can Be a Member?
Ontario Educational Credit Union invites all educational employees — current or retired — and their families throughout Ontario to become a member of our full-service financial institution.
- Teachers & school board employees across Ontario
- College & university staff
- Retired educational employees
- Family members of existing members
- Employees of associated educational federations