Media Releases & News
FirstOntario Media Centre
Founded: 1939
Employees: 290
Head Office: Hamilton, ON
Regional Office: St. Catharines, ON
2008 Assets Under Admin: Over $2 Billion
Members: Over 70,000
FirstOntario has a strong and proud history. FirstOntario's philosophy
of personalized service backed by relevant products and services will
always be of paramount importance to us. FirstOntario Credit Union
offers banking, investments, insurance and business services through
the Internet, telephone, and its seventeen branches operating in the
Niagara Peninsula, Greater Hamilton region, Oakville, Burlington,
and southwestern Ontario.
December 2008
FirstOntario Welcomes New Board Members
All of us at FirstOntario wish to extend a warm welcome to our two
newest board members, Lucy Morton and Vincent Kerrio. Congratulations
to Catherine Rogers and Alan Bratton who have been re-elected for
a new term.
The election results were as follows:
Alan Bratton
3,318
Rick Cracknell 1,898
Vincent Kerrio 2,445
Lucy Morton
3,212
Catherine Rogers 3,351
Congratulations to Gordon Pilkington, Member of the Welland Branch
for winning our Vote By Mail draw. Gordon won a $500 Term Deposit
from FirstOntario. It pays to exercise your right to vote!
October 2008
FirstOntario Annual General Meeting to be held December 3,
2008. Learn More
Market Update from President & CEO, Kelly McGiffin Click
here
Your Credit Union – Shelter From The Financial Storm
Every day, new headlines broadcast the latest financial furor south
of the border. While financial markets falter, Canada's credit union
system remains strong and calm, protected by well designed lending
policies and sound regulatory structures. And although Canada's economic
outlook has dimmed, credit union Members can rest assured their money
is safe and their credit union is secure.
In Ontario alone, the credit union system saw assets grow to almost
$19 billion and deposit levels rise to over $16 billion by the end
of 2007. As well, the majority of our deposits come from local credit
union Members – not global capital markets – so our deposit base remains
stable relative to other financial institutions in Canada, the U.S.
and elsewhere.
Your credit union is committed to upholding and strengthening key
policies that protect our Members as the market swings and sways.
We are sticking to our ‘no sub-prime mortgages' policy, avoiding a
major lending risk that is considered a chief cause of the current
turmoil in the U.S. We are also continuing to make prudent loans to
our Members where we live, work and serve, helping keep our loan delinquency
rates exceptionally low while supporting strong communities. As well,
we're maintaining high levels of capital reserves.
The Deposit Insurance Corporation of Ontario (DICO) provides deposit
protection for all eligible deposits held at Ontario credit unions.
Deposit insurance is part of a comprehensive protection program in
all Ontario credit unions. For more information, visit the Deposit
Insurance Corporation of Ontario website at www.dico.com/DICOpublic.nsf/Main/Brochure2003English?OpenDocument
A number of Members have approached us in recent weeks with valid
concerns over the safety of their money. We have listened to you and
have put together some answers to those important questions. For more
information about how the credit union system safeguards our Members,
click here.
Kelly McGiffin
President & CEO
The New Tax Free Savings Account - Coming in January 2009. Learn
More
Canadian Central Warns Of Fraud Attempts.
Learn
More
Can I See Some ID Please?
For your protection, as part of the Proceeds of Crime (Money Laundering)
and Terrorist Financing Act, all financial institutions are
required by law to ask you for ID . By supplying us with
this information when requested, you support the fight against money
laundering and terrorist financing. LEARN
MORE
June 2008
Changes To Online Banking
Starting today you will notice an exciting change to our online
banking. We now have links to 2 types of banking. Personal Internet
Banking for our Members taking care of their personal finances and
Business Internet Banking for our Business Members. If you are a Business
Member and want to start managing your business finances online, please
visit your branch to be set up.
Business Internet Banking Goes Live
FirstOntario is very pleased to now offer online banking for our
Business Members. Now our Business Members can enjoy the convenience
of managing their business finances online - anywhere, at any time.
If you are a Business Member and are interested in Business Internet
Banking, please visit your branch to get set up today. LEARN
MORE
April 2008
October 2007
July 2007
January 2007
Those requesting interviews or comments on FirstOntario Credit
Union, please contact us by email, telephone or by writing us at:
FirstOntario Credit Union
688 Queensdale Avenue East
Hamilton, ON L8V 1M1
Annual Reports
To view FirstOntario Annual Reports click
here.
1 800 616
8878
