News & Media

Financial news can be boring, but not with PenFinancial. Learn about new products and services that benefit you. Find out how PenFi is helping in your community. From new products and promotional offers to up-to-the-minute credit union news, you’ll find the latest news and announcements from PenFinancial here.

Media inquiries, please contact

Kerry Ould, Chief Marketing Officer

Latest news

February 3, 2021

PenFinancial Credit Union announces a $10,000 donation in the memory of former CEO Bob Watson

The donation will be made to Wellspring Niagara which offers a wide variety of programs and services to meet the social, emotional, restorative and informational needs of people living with cancer.

In addition, the Community Room at the PenFinancial Branch at Fourth Avenue in St. Catharines will be renamed to the Bob Watson Community Room in Bob’s honour.

Read the media release.

January 22, 2021

Remembering Bob Watson

It is with great sadness that we announce the passing of Bob Watson on January 19, 2021. Bob was the former CEO of PenFinancial Credit Union for over thirty years until his retirement in August 2016. Bob was passionate about the Credit Union system and PenFinancial, and he had a deep passion for our Members and staff.

In his retirement comments he noted “helping Credit Union Members plan their dreams was inspirational”.  PenFinancial is a result of his vision as he led the merger of 8 Niagara Credit Unions over the years into what we enjoy today.

Bob will be remembered for his indomitable spirit, compassion and dedication to his local community. He will be missed by his many friends and colleagues at PenFinancial.

Our condolences are with his wife Mary, his four children and the grandchildren he cherished.

Online condolences can be made at



December 18, 2020








Interac Flash tap limit increase

To make contactless payments even more convenient, Interac Flash tap limits have increased.  As a PenFi Member you can now use your debit card to make purchases of up to $250 per tap transaction to a cumulative amount of $400 without needing to re-enter your PIN.  To activate this change, you simply need to complete three consecutive chip transactions.   There is no time limit on completing these transactions, however they must be consecutive and not include any tap transactions in between. These can be made at an ATM or at point of sale.

November 19, 2020

Socks for Change

PenFinancial has once again partnered with Socks For Change to help those in need in Niagara this winter. With a $20,000 donation, over 10,000 pairs of high quality wool socks will be distributed to schools, shelters, and other organizations. Learn more about the Socks for Change partnership.


View the news release archive →

Fast Facts about PenFinancial Credit Union

PenFinancial is a truly local values-based credit union that is committed to improving the lives of over 20,000 members and businesses. We delivers a full range of financial services online, by mobile, and through a network of 8 branches across Niagara and Haldimand County.

Through our Truly Local Commitment, we are a  Certified B Corporation and Living Wage employer, and we invests 10% of our pre-tax profits into the communities we serves.

Our mission is to improve lives and strengthen communities.

  • Over 20,000 Members strong
  • 100% owned by Members, whom each own a share
  • Over $800 million in assets
  • Our 100 employees live and work in Niagara and Haldimand County
  • Open bonded credit union, anyone can join