This vision began to take shape in early 1926, when a group of prominent credit executives met, to lay the foundation for the establishment of the Credit Institute of Canada. At that time, the designations of A.C.I., M.C.I., and F.C.I. for members were established, subject to government approval.

By December of 1927, an application was made to the Dominion of Canada to formally incorporate and formally recognize the Institute as a non-profit professional association. On June 11, 1928, a Special Act of Parliament (Chapter 76 of the Statutes of Canada, 18-19 George V, Part 2) was passed, and the Credit Institute of Canada was born.

The first three chapters of the Credit Institute were established in 1929 and as the need for sound credit management began to win greater recognition, additional chapters sprang up across the country.