M
Personal
Business
About
Registered plan

Retirement Income Fund (RRIF)

Convert RRSP savings into a reliable income stream as you transition away from your creative career.

Book an appointment

Advantages of an RRIF

Keep your investments growing while enjoying the rewards of your hard work.

Tax-free growth

Your investments keep growing tax-sheltered, so your money keeps working after you retire.

Flexible withdrawals

Choose your payment schedule and withdrawal amount, making sure you meet the minimum.

Estate-friendly

When you pass away, your RRIF assets can be transferred to your spouse on a tax-free basis.

How an RRIF works

1

Convert your RRSP to a RRIF

By the end of the year you turn 71 (or earlier if needed), convert your RRSP to a RRIF without cashing out your investments.

2

Start taking withdrawals

Begin RRIF withdrawals the year after opening, meeting the minimum set by federal regulations.

3

Report withdrawals as income

RRIF withdrawals are taxable income. Any funds you withdraw will be taxed in the year you receive them.

Let’s make your retirement work for you. Book an appointment to get started.

Book an appointment

Eligibility, contribution limits, and tax rules are set by the Government of Canada and may change at any time. You are responsible for ensuring compliance with current rules. For advice specific to your situation, consult a qualified financial advisor or the Canada Revenue Agency (CRA).

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.

Unless otherwise stated, mutual funds, other securities, and cash balances are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer that insures deposits in credit unions.

Open a business account

If you’re new to Creative Arts Financial, book a virtual appointment to complete your membership application.

Book an appointment

Already a member? Give us a call at 1‑866‑800‑2787.

Become a business member

If you’re new to Creative Arts Financial, book a virtual appointment to complete your membership application.

Book an appointment

Become a member

If you’re new to Creative Arts Financial, complete your membership application online or book a virtual appointment.

Apply online
Book an appointment
Business U.S. Dollar Investment Savings account

Balance
Rate*

Balance

All balances
Rate*

0.20%
* Per annum rate. Rate subject to change at any time. Conditions apply.
Business Savings account

Balance
Rate*

Balance

$0 – $100,000.00
Rate*

0.20%

Balance

$100,000.01 – $250,000.00
Rate*

0.30%

Balance

$250,000.01 – $500,000.00
Rate*

0.40%

Balance

$500,000.01 – $750,000.00
Rate*

0.60%

Balance

$750,000.01 – $1,000,000.00
Rate*

0.80%

Balance

$1,000,000.01+
Rate*

1.10%
* Per annum rate. Rate subject to change at any time. Conditions apply.

Open an account

If you’re new to Creative Arts Financial, complete your membership application online or book a virtual appointment.

Apply online
Book an appointment

Already a member? Log in to online banking.

Creative Arts Financial is closed on the following days

Wednesday, December 24, 2025 Christmas Eve**
Thursday, December 25, 2025 Christmas Day
Friday, December 26, 2025 Boxing Day
Wednesday, December 31, 2025 New Year's Eve**
Thursday, January 1, 2026 New Year’s Day 2026

* Member Service Centre, Member Solutions Team and Personal Assisted Tellers will be available from 8 a.m. to 5 p.m.

** On December 24 and December 31, our branch will close at 1 p.m. Our Member Service Centre and Personal Assisted Teller services will be available from 7 a.m. to 4 p.m., and the Member Solutions Team can be reached from 8 a.m. to 4 p.m.

Nick Eddy

Branch Manager

Nick has spent 20 years in the financial services industry, both in Canada and abroad. During his time at another Ontario-based credit union, his background in financial planning enabled him to help clients achieve both long- and short-term goals, including retirement planning, home purchases, tax minimization, and savings. Through this experience, he developed a strong appreciation for the cooperative approach that credit unions offer, making his role at Creative Arts Financial particularly meaningful.

Nick is passionate about guiding members to achieve their financial goals and making planning for the future more accessible. He is also dedicated to promoting financial literacy for the next generation, aiming to help build a better tomorrow.

Judy Kudla

Vice President, Internal Audit

Leading the Internal Audit team at FirstOntario, Judy is responsible for providing assurance and advisory services to enable the Audit Committee of the Board of Directors in their oversight role, and to support senior leadership in achieving organizational goals. She has 30 years of experience in Internal Audit, Risk Management, Process Improvement, Human Resources, Vision and Strategy. Judy has lived and worked across Canada and the US, including global leadership roles with AIG, American Express, Concentra Bank, MetLife, Oracle and PwC in Toronto, San Francisco, and New York City.

Judy holds a Bachelor of Arts degree and a Master of Accounting degree from the University of Waterloo. She has the designations of Chartered Professional Accountant, Chartered Accountant and Certified Internal Auditor. She has also received certifications in Six Sigma Black Belt and the Kanban System Design and is a registered Scrum Master.

Mudasir Marfatia

General Counsel

Mudasir Marfatia leads the Legal, Governance, and Government Relations functions at FirstOntario, steering the organization through a dynamic regulatory and business environment.

A results-driven legal professional, Mudasir possesses deep expertise in corporate, financial services, and technology law. Before joining FirstOntario, he honed his skills at leading law firms, including McMillan LLP and Thornton Grout Finnigan LLP, where he advised clients on complex regulatory matters, distressed M&A, lending arrangements and enforcement actions within the financial services sector.

Following a successful career in private practice, Mudasir served as Assistant General Counsel at Ernst & Young LLP, where he provided strategic legal counsel supporting the technology and consulting practices. In addition, Mudasir led internal acquisitions and structured novel arrangements for new service offerings.

Mudasir has been consistently recognized by his peers and was awarded General Counsel of the Year in the Banking and Financial Services category at the prestigious 2024 Lexology Awards Gala for North America.

He holds both Undergraduate and Master’s degrees from the Richard Ivey School of Business at Western University and earned his Juris Doctor from Osgoode Hall Law School.

Sheila Ingram

Senior Vice President, Risk

With over 20 years of extensive experience acquired through progressive roles in the credit union sector, Sheila is a seasoned professional specializing in risk management. Holding a Business Diploma from Niagara College, a Canadian Risk Manager (CRM) designation from the Global Risk Institute and a Risk Management Diploma from the University of Toronto, Sheila brings a wealth of knowledge and expertise to the table.

Sheila is responsible for leading the risk management and compliance team, ensuring that enterprise risks are identified, managed and effectively optimized. Her role includes oversight of privacy, compliance, anti-money laundering, enterprise risk management and fraud, as well as corporate insurance and corporate security. Throughout her career, she has demonstrated a strong ability to provide strategic risk management solutions across various industries.

With a commitment to excellence and continuous learning, Sheila has positioned herself as a trusted advisor and leader. Her comprehensive understanding of risk management principles and practices ensures that she can effectively mitigate risks and enhance organizational resilience.

Michael Walsh

Senior Vice President, Information Technology

Senior Vice President, Information Technology, Michael Walsh, oversees the FirstOntario IT Division, which includes IT Governance, Project Management Office, Infrastructure, Security, IT Operations, Service Support Desk, Intelligence and Analytics, Application Development, Quality Assurance and Application Support as well as Digital Innovation.

A senior IT management professional with over 30 years’ experience in Information Technology, Michael’s vast experience includes more than 20 years of managing and directing IT teams, while developing and aligning strategic and tactical plans with corporate objectives.

Michael joined the credit union system in 2005 at FirstOntario, managing the IT Infrastructure team and graduating to the position of Director, Enterprise Technology. It was during this time that Michael implemented best practices for Data Centre management and network design. He then went on to assist with a banking migration to Temenos Transact.

Certified on IBM AS/400 systems and with his PMP certification, Michael is a lifelong learner and respected leader in the IT space.

Rob Cefaratti

Senior Vice President, Alternative Investments

As Senior Vice President, Alternative Investments, Rob Cefaratti is responsible for the strategic direction and operations of the Alternative Investment Department. Rob boasts more than 35 years of experience in the financial services industry, holding progressive roles within both the banking and credit union systems. Proudly, he has spent the last 25 years with FirstOntario, holding positions such as Executive Vice President, Credit, Vice President, Business Banking Group and Director, Retail Banking.

Rob holds a Bachelor of Arts from Western University, an Honour’s Bachelor of Business Administration from Brock University and a Master’s in Business Administration from Dalhousie University. Presently, Rob is completing the Chartered Director certification from McMaster University.

Invested in the community, Rob has held numerous positions with chambers of commerce, Rotary Clubs and United Way agencies throughout the Niagara Region.

Joanne Battaglia

Senior Vice President, Marketing, Communications & Community Partnerships

A strategic marketing professional with over 25 years of experience in retail, B2B and the financial services industry, Joanne Battaglia has held senior Marketing positions with such companies and Dylex, Diversey, Kodak, CUMIS and Canadian Tire Financial Services.

Joanne joined FirstOntario in 2011 as Director of Marketing & Product Strategy, before being promoted to Senior Vice President Marketing, Communications & Community Partnerships in 2022. In this role, she leverages her marketing expertise, passion for community social responsibility and innovative approach to business to create impact in the communities that FirstOntario serves.

An active and dedicated member of the community, Joanne is currently Director on the Hamilton Bulldogs Foundation, Director with Ontario Credit Union Charitable Foundation board, Director with Cancer Assistance Program – Hamilton (CAP), and an active member of Hamilton’s Tiger-Town Council. She has previously served as Vice-President on the Stoney Creek Chamber of Commerce board and as Director on St. Joseph’s Villa Foundation board.

She holds an Honours Bachelor of Commerce degree from McMaster University and an Executive Management Diploma from the DeGroote School of Business, McMaster University.

David Moore

Chief Retail Banking Officer

Chief Retail Banking Officer, David Moore, is responsible for leading and executing strategies across the Retail Banking Group; Alternative Delivery Channels; Marketing, Communications and Community Partnerships; Human Resources and Learning and Development. David plays a pivotal role in driving operational excellence, enhancing member experience and fostering a positive organizational culture. Additionally, he has oversight of specialized divisions, including the Dealer Centre, Mortgage Broker, Digital Services and Creative Arts Financial.

David has over 24 years of experience driving innovation, transformation and growth within the financial services industry. He has held a variety of executive roles throughout his career leading digital banking, analytics, marketing, finance, operations and sales at several of the largest credit unions in Canada. David has a BA and an MBA in business and economics from Wilfrid Laurier University.

John Doran

Chief Financial Officer

John Doran is the Chief Financial Officer at FirstOntario Credit Union and is responsible for leading the Finance, Treasury and Procurement teams.

John’s expertise has been central to FirstOntario’s success in developing and delivering strategies designed to enhance profitability, safeguard members’ assets, create value for the membership and maximize FirstOntario’s financial contributions to local communities.

Throughout his tenure, John has been a valued member of the credit union’s executive team, providing effective leadership for a variety of significant and complex projects. As an active member of the credit union community and a financial expert, John is a frequently sought after speaker and has presented on a variety of topics at regional and national finance and treasury-focused conferences. He has also represented FirstOntario as a key interested party during regulator consultation processes.

John received a Bachelor of Accounting degree from Brock University and is both a designated Chartered Professional Accountant and a Chartered Financial Analyst.

Kevin Tom

Chief Investment Officer

As the Chief Investment Officer of FirstOntario Credit Union, Kevin Tom is responsible for generating revenue outside the core retail business through the operations of Alternative Investments and Non-Margin Income, Wealth, Credit – Commercial and Retail, FirstOntario Insurance Brokers and our Business Banking Group.

Kevin has more than 25 years of experience within the financial services industry through progressive roles held at banks and credit unions.

His most recent experience includes Divisional Chief Operating Officer of the Corporate Investments Division and progressive senior roles within Wealth Management and Corporate Credit. He is also a Past President of the Okanagan chapter of Chartered Financial Analysts.

Kevin received a Bachelor of Science degree from the University of Manitoba and holds the designations of Chartered Financial Analyst, Chartered Director and Chartered Investment Manager. He is active in the community and currently sits on the boards of directors for the Hamilton Centre for Civic Inclusion and the Hamilton Community Foundation.

Mark Perkins

Chief Risk Officer

Chief Risk Officer, Mark Perkins, overseas Risk, Credit, Operations and Administration, Strategy, as well as FirstOntario’s Environmental, Social and Governance (ESG) and Social Purpose programs.

Mark has worked in the financial industry for over 30 years.

He has been with FirstOntario since 2012 and has extensive experience in business process improvement, project management, change management, product management, commercial sales, credit adjudication, risk management, strategy and syndication. He spent six years in consulting and technology roles, followed by 20 years in increasingly senior commercial sales and credit roles.

Mark holds an honours degree in economics from McMaster University and is involved with a number of local charities focused on improving the lives and safety of individuals within the FirstOntario footprint. He’s on the Board of Directors for Credit Canada, a national not-for-profit focused on credit counseling and financial literacy, as well as Food For Life, a grassroots-driven organization committed to food rescue and sustainability.

Lloyd Smith

Chief Executive Officer

Lloyd Smith has been instrumental in FirstOntario’s ongoing success for more than 30 years. His commitment to growing the credit union to benefit members, employees and communities is central to everything Lloyd does. Over the years, this commitment has been evident in his leadership and achievements in a number of strategic areas including finance, treasury, corporate services, risk management and corporate investments.

Lloyd began his career in 1990, working at Family Savings & Credit Union (Niagara) Limited as Controller. In 1999, he was actively involved in the merger between Family Savings and Avestel Credit Union, which formed FirstOntario Credit Union. Lloyd became FirstOntario’s CEO in 2019.

An active participant in FirstOntario’s employee Blue Wave volunteer program, Lloyd is often seen out in the community, supporting a variety of initiatives that align with the credit union’s charitable priorities of youth health and wellness, affordable and sustainable housing, food insecurity and financial literacy. He also currently serves as Vice Chair of the board of directors for the FirstOntario Performing Arts Centre in St. Catharines.

Lloyd holds a Bachelor of Administration degree from Brock University, is a Chartered Professional Accountant, a Certified General Accountant and a Certified Chief Executive.

Audrey Wubbenhorst

With extensive experience in governance, banking and human resources, Audrey brings a well-rounded skill set to FirstOntario’s Board of Directors. She has served on Boards overseeing corporate strategy and currently teaches business and communications at the college level.

Audrey holds a strong academic and professional foundation, including an MBA in Financial Services and an MA in Communications. She is a Fellow of the Institute of Canadian Bankers and holds the ICD.D designation, reflecting a deep commitment to Board governance excellence.

Audrey’s work experience includes:
  • Professor, Humber College (10+ years)
  • 13+ years working in banking including corporate banking, human resources and communications
Audrey’s Board and Committee experience includes:
  • Trustee, CAAT Pension Plan
  • Director, Humber College
  • Director, National Diabetes Trust (“Clothesline Program”)
  • Director, Scouts Canada
  • Director, Central LHIN
  • Director, BUILD Toronto
  • Director, Toronto Community Housing Corporation
  • Director, Ernestine’s Women’s Shelter

Stu Walker

Stu Walker has served on FirstOntario’s Board of Directofor the past seven years. Stu believes he has taken the necessary steps to serve you better through experience, personal and professional development and wishes to continue using that knowledge by giving back to FirstOntario and its members. Stu is a firm believer in the cooperative spirit of the credit union system whose values and principles are about giving forward to our communities not about improving shareholder value on the backs of its members.

Now retired, Stu was employed as a Finance Manager for over 25 years, performing various senior management functions and responsibilities.

He served on the Board of Directors for Prime Financial Credit Union for over 11 years and as Chair of the Board for two years. He assisted with facilitating the successful merger with FirstOntario. While on the Prime Financial Board, Stu also served as Vice Chair for six years and Chair of the Planning Committee for three years. While on the Prime Financial Board, Stu also served as Treasurer on the Board of Directors for the Hamilton & District Chapter of the Credit Institute of Canada for six years.

Stu has completed the Credit Union Directors Achievement (CUDA) program earning the Accredited Canadian Credit Union Director designation and also holds a Chartered Director designation from Directors College. Stu also graduated from the Audit program at Directors College. He continues to maintain his standing through professional development, active participation and frequent volunteering.

In the past, Stu has participated in both of the Junior Achievement Programs; The Business Advisor program and their Project Business program. As a volunteer and a Director representing different organizations, Stu brings a well-rounded sense of what is required in order to serve FirstOntario’s members to the best of his ability. He believes that as a credit union Director, he is responsible first and foremost to the Membership by listening and enacting policies and procedures that will strengthen FirstOntario Credit Union.

Stu has served as Audit & Risk Committee Chair, Governance Committee Chair and as a member of the Strategic Oversight Committee of FirstOntario’s Board of Directors.

Carey Smith

Carey Smith has been a member and exclusively banking with FirstOntario Credit Union for over 30 years and has had the privilege of serving on the Board for 13 years, with most of those years serving as Board Chair. During his tenure, FirstOntario survived the challenges of global recession, the ultra-low interest rates, and the pandemic. FirstOntario survived without laying-off employees and had record growth and profitability.

Carey is excited at the prospect of returning to the Board to ensure our member-based values continue, that “numbers aren’t everything” and “caring about our communities.”

Carey’s education and work experience includes:
  • Chartered Director (C.Dir), McMaster University
  • Accredited Canadian Credit Union Director (ACCUD), Dalhousie University
  • Regulatory Strategy Program, Harvard University
  • Professional Management Program, York University
  • Certified Adjudicator & Paralegal, Osgoode Hall Law School
  • Police Exemplary Service Medal (PESM), Governor General of Canada
  • Chief Executive Officer, Bereavement Authority of Ontario (BAO)
  • Director, Investigations & Enforcement, Ontario Motor Vehicle Industry Council (OMVIC)
  • Detective Sergeant, Halton Regional Police Service

Peter Scott

A dedicated credit union member for over 30 years and a former Board member, Peter Scott is enthusiastic to return to the Board of Directors. With three decades of Board, committee and leadership experience, as well as a business owner, Peter brings valuable insights and a strong sense of responsibility to the role – one he has always viewed as an honour and privilege.

Peter’s work experience includes:
  • National Training Coordinator, General Motors/Unifor
  • Labour Studies Coordinator Niagara Region, McMaster University
  • Simply Voting, GM Lead Council
  • Facilitator, pre-retirement program
  • Curriculum Development Instructor, Niagara College
  • Former business owner, The Water Source
Peter’s Board and Committee experience includes:
  • Director, FirstOntario Credit Union
  • Director, Lookout Point Golf Club
  • Director, FirstOntario Credit Union/Family Savings
  • Executive Board, Unifor Local 199

Sami Sappong

I wish to offer the leadership experience I have gained from partnering with executives and Boards, to develop and implement business transformation strategies in the financial services industry. My experiences have provided me a good understanding of the opportunities and challenges that Credit Unions navigate to achieve profitable growth and enhance the wellbeing of members and their communities.

I have supported Boards in their governance roles by organizing strategic planning retreats, providing updates to the Risk Management Committee, and using KPIs to monitor and report on strategic plan performance, identifying early warning signals, and recommending actions to manage execution risk.

Sami’s work experience includes:
  • Sappong Consulting. Principal
  • Guaranteed Funeral Deposits (2021 – 2022) – Vice President, Business Development & Administration
  • World Vision Canada (2019 – 2020) – Vice President, Strategy & Efficiency Innovation
  • Meridian Credit Union (2015 – 2018) – Vice President, Strategic Planning & Project Management
  • Foresters Financial, New York, NY (2011 – 2014) – Vice President, Strategy & Planning
  • Sun Life Financial (2010 – 2011) – Director, Market Development
  • Foresters Financial (1998 – 2009):
    • Director, North American Strategy and Planning
    • Director, Business Technology
    • Director, Business Development
    • Project Director
    • Senior Project Manager
Sami’s Board and Committee experience includes:
  • Secretary, Board of Directors, New Life Prison Ministries (2021 – present)
  • Past Board of Directors Member – Victorian Order of Nurses (2007 – 2008) & Ensemble Noir Music Group (2004 – 2006)
  • Branch Councilor, Ontario South, Foresters Financial (current)

Otto Penner

As a former area manager at General Motors, I gained the knowledge of working with groups of people from varied backgrounds and experiences and practiced an inclusive leadership style. This experience helped me understand Board dynamics and I believe I bring strong people and leadership skills to the Credit Union. I have a keen interest in financial matters and have a working knowledge of establishing and managing budgets. I also have working knowledge and understanding of ISO & ERM processes, due to my work experience related to Quality Risk Management and an understanding of ERM as related to the Credit Union.

I believe in the co-operative philosophy of people helping people. The Credit Union requires knowledgeable, strong Directors to be leaders into the future. Boards have a legal and moral obligation to maintain Director Accountability with a high standards and ethics. My recent focus has been on Seniors’ issues in Niagara, and I have found that more needs to be done. I bring an in-depth senior point of view to the Board since seniors are the fastest growing segment of the population of Niagara and Hamilton regions.

Otto’s work experience includes:
  • General Motors St. Catharines management for 42 years
Otto’s Board and Committee experience includes:
  • Credit Union member since 1963 and a Director since 1981, serving on every Board committee, including the Audit and Enterprise Risk Management Committee, and have been Chair and Vice Chair numerous times
  • As member of the Governance Committee, I participated in achieving significant Board Governance reform resulting in the governance model presently in existence at the Credit Union
  • Chair of the Niagara Falls Senior Advisory Committee and on the Board of the Age Friendly Niagara Council as Vice Chair

Lorri Meulendyks

Lorri has been a member of FirstOntario since 1982. She has worked both for and with Canadian Credit Unions for over 35 years as an employee of The CUMIS Group Limited/The Co-operators (insurance providers to Credit Unions).

Lorri has a passion for efficiency and holds certifications as a certified business process management practitioner, CBPMP, and Lean Six Sigma Black belt. She also has experience in Information Technology, Project Management, Corporate Finance, Internal Audit, Business Architecture, Security, Customer Service, Business Resumption Planning and Strategic Planning.

In addition she was a member of the Canadian Systems Development Committee for Life Insurance companies (LOMA) for over 4 years. As a retiree, Lorri is eager to both learn and contribute to FirstOntario and its Members, by providing effective governance and stewardship.

Dianne MacLean

Dianne MacLean and her husband Dave have both lived and worked in the Hamilton area for the past 40 years. A mother to four children, Dianne is now retired and is enjoying spending time with her seven grandchildren. In her career, Dianne attended McMaster University and Mohawk College to attain the designation of “FCCUI” - Fellow of the Canadian Credit Union Institute.

Dianne began her working career at the Canadian Imperial Bank of Commerce and Canada Permanent Trust before taking a position with Keen Community Credit Union - later known as Prime Financial.

Dianne worked at Prime Financial for twenty-nine years as a Manager and Assistant General Manager. While employed with Prime Financial, Dianne managed human resources and administered the employee benefits program. Dianne particularly enjoyed interacting with members and helping them with their financial decision making.

Dianne gave her time as treasurer as a Board Member of the Fifty Point Yacht Club for three years. She also sat on the Board of Prime Financial Credit Union for a year as a member of the audit and governance committees.

A volunteer with the Cancer Society, Dianne participated in a program called “Reach to Recovery” and also volunteered with the Breast Cancer Society. Along with her three daughters, she participated in a sixty km walk to raise money for cancer research at the Princess Margaret Hospital. While at Prime Financial, Dianne organized and participated, along with her staff, in the annual Terry Fox Run at Gage Park for twenty years. Dianne’s other interests include yoga and sailing.

Dianne relishes her years working for Prime Financial and has always believed very strongly in the credit union philosophy. She and her family have enjoyed the many benefits that have come with being credit union members over the years. She has served in the position of Chair for the Governance, Audit & Risk Management, Strategic Oversight and Elections committees. During her time on FirstOntario’s Board of Directors, she has also achieved her Accredited Canadian Credit Union Director designation. Dianne is thrilled to have the opportunity to help the credit union and the membership.

    Julie Fleet

    Julie Fleet has been a member of FirstOntario Credit Union since 1975, back when we were known as Stelco Credit Union. Julie shares the core values of the credit union movement. Her goal is to learn and contribute to the FirstOntario Board of Directors to keep the vision going and to move FirstOntario forward in the financial services industry.

    Julie brings over 40 years of financial experience, experience with small business and risk management and Board experience with not-for-profit organizations. She also possesses her Investment Funds in Canada (IFIC) license and is a Certified Financial Planner through the Canadian Securities Institute.

    Julie’s work experience includes:
    • Financial Advisor at the Royal Bank of Canada
    • Certified Financial Planner at Canadian Imperial Bank of Commerce
    Julie’s Board and Committee experience includes:
    • Board Member/President - Community Support Centre for Haldimand Norfolk
    • Binbrook Agricultural Society

    Ophelia Chang

    As the inaugural Director of Risk Management at TAI, Ophelia has led the development and implementation of a comprehensive risk strategy, established key performance metrics and promoted a strong risk-aware culture. She brings a solid foundation in financial literacy and oversight through both governance roles on non-profit Boards and professional positions as an accountant, auditor and risk management.

    Ophelia holds a Master of Science in Technology Management and a Bachelor of Commerce degree. She also has professional audit designations as a Certified Internal Auditor (CIA) and Certified Information Systems Auditor (CISA).

    In addition, Ophelia has earned a Technology Infrastructure Certification and is certified in ITIL, reflecting a strong foundation in both governance and technology management.

    Ophelia’s work experience includes:
    • Director Risk Management, TAI
    • Director Risk Management, Brookfield Business Partners
    • Director Internal Audit, Brookfield Corporation
    • Manager Internal Audit, Brookfield Corporation
    • Senior Manager Regulatory Compliance Monitoring and Testing, HSBC Bank Canada
    • Audit Manager, BMO Financial Group
    • IT Audit Manager, Sun Life Financial
    Ophelia’s Board and Committee experience includes:
    • Director, FirstOntario: Strategic Oversight Committee, Audit Committee
    • Treasurer, Choirs Ontario
    • Secretary, Etobicoke Historical Society

    Steve Boucouvalas

    Steve Boucouvalas brings 25 years’ expertise in financial markets and leadership roles to FirstOntario Credit Union.

    He shares the values of the member/owner model benefitting individuals, businesses and local charitable causes. Serving the community is very important to Steve and he has an active role on the board of his local hospital.

    Steve possesses a Bachelor of Commerce degree in Finance & Accounting, has taken the Canadian Securities Course as well as leadership and management training courses.

    Steve’s work experience includes:
    • Deputy Bank Treasurer, Republic National Bank of New York (Canada)
    • Managing Director, HSBC Bank Canada
    • LTP Advisors, CEO
    Steve’s Board and Committee experience includes:
    • Bank of Canada, Foreign Exchange Committee
    • RNB NY (Canada), Asset and Liability Committee
    • Toronto Financial Services Alliance, Co-Chaired RMB Hub working Group
    • HSBC, Top Team Committee, Global FX
    • Oakville Hospital Volunteer Association, Vice Chair of the Board, Chair of Fundraising Committee, Finance and Audit Committee, Executive Committee

    Carrie Beltzner

    Carrie has been a member of FirstOntario Credit union for over 25 years and currently resides with her family in Hamilton. After having the privilege of beginning her career within Ontario’s cooperative banking, she began a career in Ontario’s healthcare system which led her to hold various health care planning and implementation positions across Canada in leadership roles, executing complex change initiatives for health care providers and health system planning and oversight bodies.

    Carrie holds an EMBA from the Richard Ivey School of Business. She also holds the ICD.D designation from the Institute of Corporate Directors, demonstrating her commitment to boardroom excellence and ongoing governance education.

    Additionally, she is an Accredited Canadian Credit Union Director (ACCUD) and currently serves as Vice Chair on the FirstOntario Credit Union Board.

    Carrie’s work experience includes:
    • President St. Joseph’s Home Care and Executive Lead St. Joseph’s Health System Centre for Integrated Care
    • Implementation Lead, Health Quality Ontario & Program Development Branch Ministry of Health
    • Lead Provincial Standards Sustainability Office, Toronto Central Local Health Integration Network
    • Manager Implementation, Ornge
    • Project Manager, Development and Projects Central 1
    • Government Relations Specialist, Credit Union Central of Ontario (CUCO)
    • Volunteer Administrator, Ontario Credit Union Foundation (OCUF)
    Carrie’s Board and Committee experience includes:
    • First Ontario Credit Union
      • Vice Chair, (2023 – Present)
      • Member, Audit and Governance Committees (2024)
      • Member, Governance and Risk Committees (2023)
      • Chair of Elections Committee and Member of Strategic Oversight Committee (2022)
      • Member Governance and Elections Committees (2021)
    • Board Director & Not-for-Profit Designate, Home Care Ontario (2023-2024)
    • Chairperson, Peel Addiction Assessment and Referral Centre (PAARC) (2016-2021)
    U.S. Dollar Investment Savings account

    Balance
    Rate*

    Balance

    All balances
    Rate*

    0.15%
    * Per annum rate. Rate subject to change at any time. Conditions apply.
    Daily Interest Savings account for seniors (60+)

    Balance
    Rate*

    Balance

    $0 – $1,000.00
    Rate*

    0.05%

    Balance

    $1,000.01 – $5,000.00
    Rate*

    0.05%

    Balance

    $5,000.01 – $10,000.00
    Rate*

    0.05%

    Balance

    $10,000.01+
    Rate*

    0.05%
    * Per annum rate. Rate subject to change at any time. Conditions apply.
    Investment Savings account

    Account options
    Rate*

    Account options

    Non-registered savings
    Rate*

    0.30%

    Account options

    TFSA investment savings
    Rate*

    0.60%

    Account options

    FHSA investment savings
    Rate*

    3.20%

    Account options

    RRSP investment savings
    Rate*

    0.05%

    Account options

    RRIF investment savings
    Rate*

    0.05%
    * Per annum rate. Rate subject to change at any time. Conditions apply.
    Daily Interest Savings account

    Balance
    Rate*

    Balance

    $0 – $1,000.00
    Rate*

    0.05%

    Balance

    $1,000.01 – $5,000.00
    Rate*

    0.05%

    Balance

    $5,000.01 – $10,000.00
    Rate*

    0.05%

    Balance

    $10,000.01+
    Rate*

    0.05%
    * Per annum rate. Rate subject to change at any time. Conditions apply.
    High Interest eSavings account

    Balance
    Rate*

    Balance

    $0 – $100,000.00
    Rate*

    0.60%

    Balance

    $100,000.01 – $200,000.00
    Rate*

    0.75%

    Balance

    $200,000.01+
    Rate*

    0.80%
    * Per annum rate. Rate subject to change at any time. Conditions apply.