Over the last few months a company's name kept popping up as a sponsor, and it really became solidified at this year's Small Business Week, which is put on nationally by the BDC and locally by the Oakville Chamber of Commerce. However, the company that kept standing out was the FirstOntario Credit Union.
For the longest time, the only Oakville location for the FirstOntario Credit Union was in Kerr Village, and then last year they opened up a branch in the New Oakville Trafalgar Memorial Hospital.
This year they opened up an additional 5,500 sq ft location at the shopping centre situated at the North East corner of Neyagawa and Dundas. This location is unique because for the first time they are offering commercial services in the branch along with having commercial service managers that will travel to clients. Also, you'll notice in the branch that there are no lines, since each of the six new staff members in the credit union are there to serve their customers.
Stelco Credit Union, a closed-bonded Credit Union for Stelco Steel employees became Avestol when Stelco ceased to exist, so the decision was made to create an open-bonded credit union which allows any person to use the financial services. The new name became FirstOntario Credit Union, and it provides all the same options as a major charter bank.
The basic difference between a credit union and a charter bank is the management philosophy. A credit union aims to provide services at the lowest cost to the consumer. Their savings account offers a higher rate of return in many cases, and credit decisions are made locally. It also involves a strong commitment to make their local business have a positive impact on the community they serve.