The Voice of Canadian Credit Unions

News Categories: Banking

Banking / Human Interest /  • October 2, 2017
BC wildfires force closure of credit union branches

Williams Lake & District Credit Union (14,000 members and $250 million in assets) was forced to close its 100 Mile House and Williams Lake branches this past July due to wildfires in British Columbia’s Cariboo-Chilcotin Region.  ...

Banking / Economics /  • September 21, 2017
Interest rate hike affects variable rate mortgages

The Bank of Canada raised its key interest rate to 0.75 percent, up one-quarter of a percentage point from 0.50 percent — the first increase in seven years — initially affecting variable-rate mortgages and lines of credit. In re...

Banking / Mergers /  • April 4, 2017
Credit union numbers drop over two decades

In 2012, credit union mergers were a hot topic of conversation — just as they are today, having become an attractive management strategy to avoid service duplication. [NOVEMBER 2012] Credit Union Central of Canada reports t...

Banking /  • March 23, 2017
Concentra boosts credit union competitiveness

On the recommendation of the Office of the Superintendent of Financial Institutions (OSFI) and after receiving approval from Ottawa’s Minister of Finance, Canada’s newest bank, Concentra Bank, began operations under the Bank Act on Jan....

Banking / Finance /  • March 7, 2017
Mortgage fraud on the rise

Equifax is reporting that mortgage fraud is on the rise in Canada — especially in Ontario and British Columbia — due in large part to rising home prices. The agency, which maintains credit reports on consumers and businesses, states ...

Banking /  • December 6, 2016
Conexus offers enhanced Open Anywhere

In early October, Saskatchewan’s largest credit union became the first in Canada to launch the enhanced version of Open Anywhere, a new system of member onboarding. Developed by Central 1 Credit Union, Open Anywhere streamlines the new me...

Banking /  • December 6, 2016
FirstOntario launches wealth-management website

FirstOntario Investments is offering its members a high-tech approach to wealth management, by providing them with online access to its IIROC-licensed team of financial advisers. “We welcome everyone regardless of your portfolio, t...

Banking / Human Interest /  • September 27, 2016
Nepal credit unions rebuilt

Forty-one credit unions, or Savings and Credit Cooperative Societies (SACCOS) as they’re known in Nepal, have been rebuilt after a 7.8-magnitude earthquake struck the country on April 25, 2015.

Banking / Technology /  • August 22, 2016
B.C. credit unions foster FinTech

As part of the BC Technology Industry Association’s new FinTech Program, Central 1 Credit Union, Coast Capital Savings, Ficanex Services Limited Partnership, and PayPal Canada have joined forces as founding members of the program to foster the FinTech sector and support small business in B.C.

Banking / Community Development /  • July 26, 2016
Time Machine July 1945: What’s a credit union?

The follow excerpt comes from an entertaining article written by Jean Archibald and published in the Woman’s Point of View section of B.C. Credit Unionist in July 1945. It’s an interesting exchange, edited for brevity, that’s still relevant 71 years later!

Banking / Finance /  • July 14, 2016
New debit cards for the Emerald Isle
Emerald Isle issues debit cards

Eleven credit unions in Ireland have teamed up to form a not-for-profit organization, DCG Card Services, to manage a new product demanded by 84 per cent of its members: debit cards. Although debit cards aren’t exactly new, DCG Card Services was for...

Banking / Risk Management /  • May 12, 2016
Number Cruncher: $61 million

The amount of money scammed from an estimated 14,000 Canadians in 2015, according to the Canadian Anti-Fraud Centre....

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