How credit unions are regulated
Credit unions in Canada are deposit-taking financial institutions that are either provincially or federally regulated. Regulators have oversight over individual credit unions; and credit unions are required to meet standards and work with public agencies to ensure they are among the country’s soundest financial institutions.
Your deposits are protected
All provinces have deposit guarantee frameworks that provide credit union members with deposit protection equal to, or higher than, the big banks (i.e. $100K). In some provinces that coverage is unlimited.
Advocating for real choice in the financial services sector
Credit unions believe that Canadians are best served by a financial services market that offers them real choices.
That’s why CCUA works with provincial governments, regulators, and the federal government to arrive at public policy that enables a competitive balance in the financial services sector – policies that recognize and support the credit union difference.
