Founded in 1953, it rebranded to its current name in January 2016 to reflect its "evolving role as an association that is focused on growing a stronger... credit union industry.

By the early 1950s the Canadian credit union system saw the development of two different but related types of organizations: a national trade association to be a convening body and voice for the system, and a national finance facility to provide liquidity to support a distinctly Canadian credit union organization.

Beginning in 1908 and accelerating in the 1930s, credit unions were incorporated provincially in small communities and rural areas of the Maritimes, Ontario, the Prairies and British Columbia, while in Quebec, a federated caisse populaire network developed very differently from the rest of the country.

In response to the growth of credit unions in communities across Canada, centrals began to be created in the 1930s at the provincial level to provide liquidity, risk management and shared services.

In 1977, reflecting "a desire within the Canadian co-operative movement to create a true national liquidity pool",[5] CCCS was restructured to include nine (up from five) provincial centrals.

It was led by five chief executive officers: Brian F. Downey (1986–1995), Bill Knight (1995–2001), Joanne De Laurentiis (2001–2006), David Phillips (2006–2014) and Martha Durdin (2014–2015).

In 2010, Credit Union Central of Canada began the process of replacing or transferring its regulated responsibilities as a finance facility in order to focus on its activities as a national trade association.