Why Switch?

Find a
Credit Union

Credit Union Central of Canada Welcomes Federal Government’s Announcement of Intent to Proceed with Federal Credit Union Legislation

(March 4, 2010 – Toronto)  Today, Finance Minister Jim Flaherty made an historic announcement for the evolution of the credit union system in Canada by stating the federal government’s intention to proceed with federal credit union legislation. 

“Credit Union Central of Canada supports the availability of a federal option for credit unions.  We welcome today’s announcement as a step toward enabling credit unions to choose a new option to address growth opportunities and enhance service to their members”, said David Phillips, President and CEO of Credit Union Central of Canada.

The main purpose of a federal credit union charter is to accommodate growth and expansion of the Canadian credit union system.  It will enable those credit unions that so choose to reach beyond provincial boundaries and pursue business strategies that are not constrained by provincial incorporation.

As today’s announcement does not contain details beyond the government’s intention to proceed, Credit Union Central of Canada looks forward to working with the federal government on this initiative.

For more information please contact:

Veronica Feldcamp
Director, Trade Association Services
(416) 232-3417