Indigenous Inclusion and Economic Reconciliation 

CCUA's BC Government Relations team, has submitted a quote from Jeff Guthrie, the CCUA CEO, supporting Indigenous inclusion and reconciliation for upcoming amendments to the BC Land Title Act, giving non-Treaty First Nation Governments an option for listing fee simple land for sale or purchase. It is not expected to have a material impact on credit unions as it is common for First Nations Governments to use holding companies to sell and buy land to limit their liability exposure. The full government press release and CCUAs quote can be found here. 

Please contact ksingh@ccua.com if you have any questions. 

BCFSA Releases their Updated Regulatory RoadMap 2024 -2027 

During the week of April 1st, BCFSA released an updated Regulatory Road Map for the years 2024 to 2027. The consultations for Loan Data Reporting Requirements, the Commercial Lending Guideline, the Residential Mortgage Underwriting Guideline, AML and the Natural Catastrophe and Climate Risk Guideline (NCCR) are of interest to BC credit unions. Also, the Loan Data Reporting Requirements Consultation in the fall of 2024 is expected to cover the Capital Modernization consultation data requirements. 

Please contact ksingh@ccua.com if you have any questions. 

BCFSA-CCUA Webinar on Physical Risk 

As part of CCUA’s effort to prepare BC credit unions for the next phase of the BCFSA Natural Catastrophe and Climate Risk (NCCR) discussion, CCUA will organize a webinar on May 23rd from 11 am to 12 pm to give CROs, Climate Managers, CEOs and Board Members an introduction to physical risk management. BCFSA, Vancity, and Salmon Arm Savings Credit Union will present their approaches to physical risk management, and the webinar will be open to questions from BC Credit Unions.  An invitation will be sent out in early May, but if you have a board member or staff that is interested, please contact ksingh@ccua.com and we will add them to the invitation list.