Credit Union Central of Ontario yesterday welcomed Howard Bogach as its new president and CEO.

Credit Union Central of Ontario is the central bank and trade association for 90% of the province’s credit unions.

“There is a real need in Ontario for community-based financial institutions, especially when you consider that the large banks are likely to merge in the future,” said Bogach in a news release. “I’m excited about the opportunities this presents for credit unions.”

Bogach is the former CEO of Toronto-based Metro Credit Union. Under his leadership, assets at the financial institution have nearly tripled to $490 million, and membership has grown to 43,000 people throughout the GTA. Previously, Bogach was a vice-president with Capital City Savings in Edmonton, and also worked for the Credit Union Deposit Guarantee Corp. of Alberta.

Credit Union Central of Ontario is a $1.7 billion financial and trade services organization that represents almost 200 credit unions with more than 1 million members.