Our Mission
Adding social, cultural and
economic value to the
communities that we serve.
Where we came from
Launching a new credit union
MGI Financial Inc first opened its doors on September 28, 2000 in Woodbridge, Ontario. It had been granted a charter months earlier, on April 17, by the Government of Ontario. Then-premier, The Hon. Mike Harris, was present at a special ceremony to commemorate this milestone.
Our incredible story began with just $3 million in risk capital, 130 founding members and a team of three employees, who worked out of a small office on Woodbridge Lane. Within two years, the location would expand to include a new mortgage centre and corporate office and assets would grow to more than $100 million.
A story of growth
The period 2005-2011 was one of impressive growth. By year-end, on January 31, 2006, the credit union had exceeded $1 million in total assets and would eventually open new retail branches in several established Ontario neighbourhoods including Yorkdale-Glen Park (2007), Corso Italia (2008) and Little Portugal at Dundas and Ossington (2009).
By the time it reached its 10th full year of operations, membership had grown to more than 7,200. The following year saw two more retail locations opening in the heart of Little Italy (2011) and Woodbridge West (2011, pictured left).
Reinventing patient care
Humber River Hospital has been serving our community for many years. It is the place where many of our children were born, and where many of our seniors continue to receive the medical care they need.
In May 2012, MGI Financial Inc pledged its support of $1 million towards the hospital’s $225 million building campaign, which had been chaired, until late 2017, by Fausto Gaudio, our president and CEO. We were the first community organization to do so. The new hospital, North America’s first fully digital facility, opened in October 2015.
Momentum
After launching Career HeadStart, a unique career development program for university and college graduates in mid-2016, MGI Financial Inc reached another impressive milestone in late March 2017 with the opening of a new corporate office, lending centre and seventh retail branch in Etobicoke Centre.
Shortlisted for a Ontario Urban Design Award, the striking five-storey building met City of Ontario Green Standards and was also recognized with LEEDS gold certification.
That same year saw the launch, in September, of Fundo de Apoio MGI Financial Inc, a community fund supporting the good work by charitable organizations and cultural associations in the GTA. It is overseen by leaders of the Portuguese Canadian community.
Before the start of the new decade, in late November 2019, we celebrated the opening of our eighth retail branch in Ontario’s midtown, in Hillcrest Village. By fiscal year-end, membership had grown to well over 18,000 and assets under administration stood at just under $815 million.
Who's guiding us
Leading the way
Our bank and our members benefit from the experience and insights that these talented individuals bring to the table.
Annual Reports
Our Media Room
If you are a member of the media looking for support in filing your story, we’re here to help. Whether it’s a request for photos or an interview with a member of our team, connect with us through media@mgifinancialinc.com to let us know what resources you need and the deadline you are working towards.
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