CCUA continues advocacy efforts to unlock more credit union financing for housing
CCUA continues to engage with the Ontario government on housing development and on supporting larger-scale projects. Credit unions across Ontario are financing
Armed Robbery Alert
Please be aware that an armed robbery occurred this past week within the GTA/Hamilton region. The characteristics of this event match those of previous robberies over the past year and a half within Ontario. Police are reviewing the incident and CCUA has made itself available to support the investigation.
Credit unions and their members' security and safety are paramount to the Canadian Credit Union Association. We urge all credit unions to follow their own safety procedures. We also offer an online robbery preparedness class that can be accessed on CCUA Campus (login required.)
We will continue to monitor the situation and update you with any relevant information. Please don't hesitate to reach out if you have any questions or concerns.
FSRA Roundtable Recap
On February 27th CCUA alongside smaller credit union members met with FSRA to discuss sectoral issues and the upcoming FSRA White Paper. The meeting with both the FSRA Consumer Affairs Office and the Credit Union Team was productive with discussions on consumer protection, vulnerable consumers, market conduct, regulatory items, FSRA’s work plan, challenges heading into 2024, as well as feedback on the White Paper. The meeting was positive and focused on lots of sectoral issues facing all credit unions. CCUA will continue to look for opportunities to bring our members to the table with FSRA through a variety of discussions and opportunities moving forward.
Market Conduct Code – Product Suitability Draft Language
FSRA has reached out to CCUA to advise that they are seeking enhancements to our Market Conduct Code focusing on product suitability for members. CCUA took the opportunity to offer to FSRA a draft and FSRA agreed. Please find a copy of current draft language attached here. We are seeking input from the entire sector on the potential additions to the Ontario Market Conduct Code. Your credit unions feedback is welcomed on the draft language. Please reach out to Brent Furtney to share any feedback or direct edits. We are also available to discuss via Teams call.
Ontario Budget Day
The Ontario Government will be releasing the Ontario Budget on March 26th. Following this announcement, CCUA will provide a full summary of the Budget and highlight any areas that may impact products, services, or your members relating to financial services. Please keep an eye out for post-budget release update.
