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CONTACT CENTRE
Our truly local representatives are here to serve you:
1-866-866-6641
PenFinancial Credit Union’s history is woven into the fabric of Niagara and Haldimand. What began as small credit unions formed by local workers — chemical employees, hospital staff, manufacturers, and municipal teams — grew into a collective movement built on cooperation and community strength. Over the decades, these groups came together through mergers and partnerships, each step reflecting the resilience and values of the people we serve. Today, PenFinancial proudly continues this legacy, staying true to our roots while shaping the future of Truly Local Banking.
Where it all began — small community credit unions were started by workers, unions, and local employers to give people a trusted place to save and borrow. Rooted in cooperation, these early groups set the foundation for values-based banking in Niagara and Haldimand.
Through the 1960s–1980s, more credit unions were formed to meet the needs of families, farmers, and businesses. Each one reflected the spirit of its community, helping neighbours build financial security and supporting local growth.
The history of chemical workers in Niagara Falls, Ontario, is tied to the region's development as a chemical manufacturing hub, particularly during and after World War II, with companies producing various chemical products and explosives for wartime and post-war demand. Niagara Falls, Ontario, became a key location for chemical production due to abundant hydroelectric power, leading to the establishment of facilities like the Shawinigan Water & Power plant, which manufactured acetylene, acetic acid, and acetone, as well as vinyl resins and plasticizers. The presence of these large chemical companies created a significant workforce in the area for decades.
13 Employees – Carpenter, Foreman, Metal Worker, Guard, Plant Patrol, Mechanic, Welder.
24 Employees – Fireman, Accessor, Detective, Constable, Deputy Chief, Administrator, Assessment Clerk, Clerk, Assistant Treasurer, Police Sergeant.
21 Employees – Engineer, Registered Nursing Assistant, Diet Maid, Cafeteria Maid, Housemaid, Janitor, Receptionist, Certified Nursing Assistant, Cook, Orderly, Kitchen Maid
The Packard Electric Co., Limited, was one of the largest and most important of the factories based in St. Catharines. In 1895, this company purchased the property known as “Neelon’s Mill,” at the foot of Bond Street, on the upper hydraulic race, and converted it into a factory for the manufacture of incandescent lamps, electric meters, transformers and alternating motors. In 1905, the manufacture of automobiles was added, the department devoted to this line being located on Mill Street.
A 1905 Oldsmobile Touring Runabout, manufactured in St. Catharines at the Packard Electric factory, can be seen in the lobby of the St. Catharines Museum.
The “Dominion” in “Dominion Civil Servants” likely refers to the Dominion Government, which operated federal services, such as the Post Office and Customs House in Niagara Falls, Ontario. Civil servants were employed in these federal buildings from their construction in the late 19th century until their functions were eventually absorbed or relocated in the mid-to-late 20th century.
Merged with Cataract Savings – Cataract Savings Merged with PenFi on August 1, 2011.
Niagara Frontier Federal Employees Credit Union, a financial institution serving federal employees in the US, or it could refer to federal employees who live in the Niagara region, working in local or regional positions, rather than necessarily a specific group of federal employees in Niagara.
The 1990s–2000s brought a series of mergers that united many of these credit unions. By joining forces, they were able to offer stronger products and services, while staying true to their local roots.
In the 2000s–2010s, PenFinancial emerged as the new identity for these united credit unions. This era marked a shared vision: delivering modern financial solutions with the same personalized care Members had always relied on.
Today, PenFinancial continues to live its Truly Local Commitment – improving lives and strengthening communities. With deep roots and a proud history, we carry forward the cooperative spirit that started it all.
Canning company.
Merged June 16, 1958 with Gerber Employees (Niagara Falls) Credit Union Limited.
Gerber-Ogilvie Foods Ltd., where the new owners planned to use the factory to make baby food and baby cereal.
In 1951, approximately 50 per cent of the 110-member Gerber workforce were women and most of them were also mothers. Each day, 100,000 cans made their way out of the storehouse and were filled with more than 15 tons of fruits and vegetables that were grown in the Niagara Peninsula.
March 9, 1979 – merged with General Tile & Rubber Employees (Welland) Credit Union Ltd.
Rubber plant Initially focused on the production of gossamer rubber clothing that was in demand at the time, the company switched to mechanical rubber goods circa 1884.
The local chapter of Stokes Rubber began when it was announced Aug. 19, 1920, thanks to the efforts of Welland’s industrial commissioner, Joseph Stokes Rubber Co. of Trenton had chosen the city as the location to build its Canadian rubber plant.
Largest manufacturer of vacuum cleaners in Canada from the mid 1950’s on.
Merged with Cataract Savings – Cataract Savings Merged with PenFi on August 1, 2011.
Cataract Savings merged with PenFi on August 1, 2011.
Canadian Shredded Wheat refers to the historical and current cereal manufacturing plant in Niagara Falls, Ontario, that opened in 1904 and continues to operate under Post Consumer Brands, producing Shreddies and other cereals. The plant has been a significant local attraction and employer, passed through different companies like Nabisco and Kraft, and remains a source of Canadian-made breakfast cereal for generations.
Atlas and Civic Employees (Niagara Region) Credit Union Limited – merged with PenFi in 2005.
24 Employees – Machinist, Inspector, Roll Turner, Crane Operator, Carpenter, Welder, Secretary, Roll Setter, Furnace Man, Heater, Millwright, Recorder, Crane Mechanic, Business agent, Mechanic, Electrician, Expeditor.
Merged with Cataract Savings & Credit Union on February 29, 2008 – Cataract Savings & Credit Union Limited 0386.
Hayes-Dana opened more Niagara factories, including two in Thorold. During the Second World War, the company manufactured primarily military truck components and aircraft parts under a wartime contract. The war was Hayes-Dana’s most productive time, and the Merritton plant alone reached over 1,500 employees. Following the war, the company returned to building automotive parts for civilian vehicles and continued to operate well into the 1980s.
Merged with Fort Erie Community Credit Union Limited.
Merged August 29, 1959 with Dunnville & District Credit Union Limited.
Our story is built on the strength of our Members and communities. As we honour the credit unions that came before us, we continue to grow with you – providing trusted advice, innovative banking, and a commitment to making a difference locally.
