Originally known as Union Center, the village is situated in Union Township. It was laid out in 1872 and then called Cory. When the Lake Erie & Western Railroad was extended there, the village was named for D. J. Cory, proprietor of the town site. The name was changed to Mt. Cory and the village was incorporated on May 10, 1887. The name change was intended to prevent confusion with the village of Carey in Wyandot County.
A proud part of the Cory-Rawson Local School District, the Fighting Hornets have two school buildings on a central campus. The village, located near Rawson, is home to the locally-famous Kaleidoscope Christmas Tree Farm and the Granary.