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History

The History of Momentum Credit Union


Momentum Credit Union has its roots firmly planted in the Hamilton, Oakville and Brampton communities stemming from industries built around the movement of its people. Originating from the industrial Credit Unions of the Hamilton Street Railway, Otis Elevator, and Ford Motor company, we have over 70 years in the Financial Service industry.

Our history 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 look 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 merge 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 changes its name to Twin Oak Credit Union to more accurately reflect the changed membership base. Hamilton Community Credit Union also merges with many smaller industry Credit Unions along the way increasing 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 over 11,000 and assets of over 150 million, Momentum Credit Union has positioned itself to successfully serve the Ontario region as they move forward in to the future.

Contact your nearest branch to open an account with Momentum Credit Union or apply online today!