FirstOntario Credit Union
This Page's Content Was Last Updated: July 21, 2026
Credit Union
FirstOntario
FirstOntario Credit Union is a credit union located in Ontario. It was founded in 1939. It primarily serves Greater Hamilton Area, Halton Region and and the Niagara Region.
FirstOntario Credit Union has roots in southern Ontario’s labour and community credit union history. It traces its origins to 1939, when employees of the Steel Company of Canada in Hamilton formed Stelco Employees Credit Union. Over time, it grew through mergers with other community based cooperatives, including Niagara region predecessors, and adopted the FirstOntario name in 2000.
Today, FirstOntario serves members across Hamilton, Niagara, Halton, and southwestern Ontario with personal and business banking, mortgages, loans, investments, and financial advice. As a member owned cooperative, it reinvests profits into local partnerships, charitable support, and community programs.
One of its established community initiatives is support for student nutrition programs, which help provide food to students through local school and community partners.
Provinces served
Mortgage Rates
The mortgage rates on this page were last updated on August 5, 2026 at 5:46 PM ET.
| Lender | Term | Rate | |
|---|---|---|---|
| 6-Month Fixed | 6.34% | ||
| 1-Year Fixed | 5.29% | ||
| 2-Year Fixed | 4.74% | ||
| 3-Year Fixed | 4.74% | ||
| 4-Year Fixed | 4.79% | ||
| 5-Year Fixed | 4.84% | ||
| 7-Year Fixed | 5.74% | ||
| 10-Year Fixed | 5.94% | ||
| 5-Year Variable | 3.55% | ||
* Rates are for informational purposes only and reflect the lowest rates available. Rates may change at any time and may be applicable only to certain borrowers. Terms and conditions apply. | |||
GIC Rates
The GIC rates on this page were last updated on August 5, 2026 at 11:14 AM ET.
| Term | Rate |
|---|---|
| 6-Month | 2.60% |
| 9-Month | 2.75% |
| 1-Year | 3.00% |
| 2-Year | 3.20% |
| 3-Year | 3.35% |
| 4-Year | 3.35% |
| 5-Year | 3.50% |
* Rates are for informational purposes only and reflect the highest rates available. Rates may change at any time and may be applicable only to certain depositors. Terms and conditions apply. | |
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: Pay As You Go
- Standard Fee
- Free
- Free Transactions
- 0
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 0 free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Chequing Account
2. Account: Premium
- Standard Fee
- $13.95/mo
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- The monthly account fee is waived if you maintain a minimum balance of $4,000 in your account.
- The monthly account fee is waived if you receive at least $1,500 in direct deposits each month.
- The account fee may be waived for students and youth.
- This account allows Unlimited free transactions.
- 10 free Interac e-Transfers are included each month.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Chequing Account
3. Account: Premium Unlimited
- Standard Fee
- $19.95/mo
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- The monthly account fee is waived if you maintain a minimum balance of $6,000 in your account.
- The monthly account fee is waived if you receive at least $2,500 in direct deposits each month.
- This account allows Unlimited free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Accounts
Savings Account
Account: Daily Interest Savings
- Interest Rate
- 0.05%
- Standard Fee
- Free
- Free Transactions
- 2
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 2 free transactions.
- Unlimited debit transactions are included when a minimum balance of $3,000 is maintained.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Account
Account: High Interest eSavings
- Interest Rate
- 0.60%*
- Standard Fee
- Free
- Free Transactions
- 2
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 2 free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
*Interest Rate Breakdown by Balance
Balance amount Interest rate $0.00 to $100,000.00 0.60% $100,000.01 to $200,000.00 0.75% $200,000.01 or over 0.80% Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Account
Account: Investment Savings
- Interest Rate
- 0.30%*
- Standard Fee
- Free
- Free Transactions
- 1
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 1 free transaction.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
*Interest Rate Breakdown by Balance
Interest rates differ by account type:
Balance amount Interest rate Non-Registered Savings 0.30% TFSA Investment Savings 0.60% FHSA Investment Savings 3.20% RRSP Investment Savings 0.05% RRIF Investment Savings 0.05% Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Credit Union Overview
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $7.17B | +8.9% | +38.0% |
| Loans | $6.42B | +8.8% | +39.8% |
| Deposits | $6.18B | +11.9% | +42.2% |
| Mortgages + HELOCs | $4.72B | +11.2% | +30.5% |
| Revenue | $151M | +19.8% | -6.8% |
| Efficiency Ratio | 76.2% | — | — |
| Members | ~126,000 | — | — |
| Branches | 29 | — | — |
| Target Members / Region | Greater Hamilton Area, Halton Region, and the Niagara Region | — | — |
FirstOntario Credit Union Deposits, Loans and Revenue in the Past 5 Years
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Contact
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