In the early 1970s, many Taiwanese students stayed in Ontario after completing their studies, finding a job and having a family. Due to economic needs and their strong ties, the new residents began organizing a credit union at a Taiwanese Canadian Association meeting in 1975.
The licensing application for the Taiwanese Canadian Toronto Credit Union was finally approved by the provincial government in May 1978. The first general meeting was held on August 27, 1978, attended by a total of 57 members. The members elected Mr. John Wu, the founder, as the first president of the credit union. The credit union raised operating capital totaling a meer $15,355 with $5 per share. Following the first general meeting, dedicated volunteers not only invested in the credit unions, also provided a space and facility for the operation of the credit union.
www.tctcu.com - 15798 - Taiwanese Canadian Toronto Credit Union
