Our story began in 1939 when the Hamilton Street Railway Employees first met to form their own Credit Union. It was 1942 when Otis Elevators employees were approved to form their own Credit Union as well. Meanwhile in Oakville, employees of the Ford Motor Company looked to join together and form the Oakville Auto Employee’s Credit Union in the year of 1954.
It was 1982 when Hamilton Street Railway Credit Union and Otis Elevator Employees Credit Union merged to form the Hamilton Community Credit Union. Oakville Auto Employee’s Credit Union along with the merger of Brampton Community Credit Union and other small industry Credit Unions changed its name to Twin Oak Credit Union to more accurately reflect the changed membership base. Hamilton Community Credit Union also merged with many smaller industry Credit Unions along the way increasing its membership and asset size.
In December of 2010, the Boards of Directors for Twin Oak Credit Union and Hamilton Community Credit Union approved the amalgamation of these two successful organizations. With a unanimous vote by their membership, Momentum Credit Union was formed. With a membership of 11,000 and assets of over 170 million, we have positioned ourselves to successfully serve the Ontario region as we move forward into the future.
Hamilton Street Railway
February 1939
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Employees first meet to form their own credit union.
Otis Elevator
January 1942
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Employees first meet to form their own credit union.
Ford Motor Company
July 1954
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Oakville Auto Employees Credit Union was founded on July 18th, 1954 by assembly line workers at Ford in Oakville.
Twin Oak Industrial Credit Union Ltd.
December 1981
Oakville Auto Employees Credit Union purchased a Credit Union serving the Glass Workers of Niagara falls as well as a second Oakville CU named Halton Community Credit Union. This amalgamation lead to the change of the name to Twin Oak Industrial Credit Union Ltd.
Hamilton Community Credit Union
January 1982
It was 1982 when Hamilton Street Railway Credit Union and Otis Elevator Employees Credit Union merge to form the Hamilton Community Credit Union.
Sheet Metal Workers Local 537
January 1987
SMW Local 537
Hamilton Sheet Metal Association joins Hamilton Community Credit Union in January of 1987.
Brampton Credit Union
September 1988
Twin Oak Industrial Credit Union Ltd., amalgamated with Brampton Credit Union on September 1st of 1988 which serviced the Chrysler Plant Auto Workers at the Brampton Chrysler Assembly Plant. With the amalgamation, the Credit Union changed its name to Twin Oak Credit Union Ltd.
Twin Oak Credit Union
June 2010
SMW Local 537
Oakville Auto Employee’s Credit Union along with the merger of Brampton Community Credit Union and other small industry Credit Unions changes its name to Twin Oak Credit Union to more accurately reflect the changed membership base.
Amalgamation
December 2010
In December of 2010, the Boards of Directors for Twin Oak Credit Union and Hamilton Community Credit Union approved the amalgamation of these two successful organizations. With a unanimous vote by the membership, Momentum Credit Union was formed.
Branch Move
June 2014
SMW Local 537
Momentum Credit Union moves its Hamilton Mountain branch from 499 Mohawk Rd E to 892 Upper James Street. The location opened on June 24th, 2014.
Mobile Banking App
March 2016
Momentum Credit Union launches its mobile banking app for Android / iOS devices on March 24th 2016.
Solution Centre
April 2016
Momentum Credit Union launches its call centre located at the King St location on April 1st 2016.
Corporate Office Move
April 2018
Momentum Credit Union moves its corporate office from 698 King St E to 435 York Blvd in Hamilton.