Vaughan credit union launches new securities business

Vaughan Citizen
January 21, 2014
By Adam Martin-Robbins

A Vaughan credit union has launched a new securities firm.

PACE Savings and Credit Union Ltd. announced Monday that its wholly-owned subsidiary, PACE Securities Corp., is up and running.

“The new PSC will give members easy access to experienced advisors to help them make the most of their investments. We aim to provide the exceptional level of service, fees and product offerings that people have come to expect from the PACE brand,” Joseph Thomson, Pace Securities Corp. president and CEO, said in a news release.

Investment Industry Regulatory Organization of Canada (IIROC) approved the firm as a regulated investment dealer back in October, making it the first securities firm to be owned by an Ontario Credit Union, according to a news release.

Former Ontario Premier Ernie Eves is expected to serve as PACE Securities Corp.’s board chairperson pending IIROC approval.

PACE Credit Union currently serves 40,000 members through 15 locations in the Greater Toronto and Hamilton Area.