Office address: Etobicoke Centre, 5300 Dundas Street West, Toronto, Ontario M9B 1B2, Canada
Website: www.icsavings.ca
Year established: 2000
Company type: Financial services
Employees: 70+
Expertise: alternative mortgage lending, credit union, branch banking, foreign exchange
Parent company: N/A
CEO and key people: Fausto Gaudio, President and CEO
Financing status: -
IC Savings serves as a full-service credit union dedicated to offering comprehensive financial solutions. Catering to both individual and business clients, the firm has established itself as a key player in the mortgage sector. IC Savings is also known for its commitment to community development and innovative financial services.
Founded as the Italian Canadian Savings & Credit Union, IC Savings opened its doors on September 28, 2000, in Woodbridge, Ontario. It began with a modest $3 million in risk capital and 130 founding members. The credit union experienced rapid growth, expanding its services and branches across Toronto and Vaughan. By 2006, its assets exceeded $100 million, and by the end of its first decade, membership grew to over 7,200. Today, IC Savings continues to thrive, with a strong focus on community support and financial innovation.
IC Savings offers a diverse range of products and services, tailored to meet the needs of its members, including:
IC Savings is deeply rooted in community engagement and support. The company has a history of contributing to various social causes and initiatives, reflecting a culture of giving back and adding value to the communities it serves. This ethos is evident in its support for healthcare, education, and local community projects.
Fausto Gaudio serves as president and CEO of IC Savings. He has been a pivotal figure in the organization's growth and community involvement. His leadership has steered the credit union through significant expansions and initiatives, particularly in supporting healthcare and community development projects.
Apart from his role in the company, Gaudio is a long-time member of the Humber River Hospital Foundation Board of Directors. He also chaired the hospital’s Capital Campaign Cabinet that brought in $81 million from individual and corporate donors. Following a brief break, Gaudio has returned to the board and currently chairs its Development Council.
IC Savings is poised for continued growth and innovation. With a strong financial foundation and a commitment to its members and community, the credit union is well-positioned to navigate the evolving financial landscape. It is also set to maintain its role as a key player in Canada's mortgage industry.
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