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Enjoy quick hits of news on issues that matter to credit unions in Canada

Banking /  • November 5, 2018
An app for that

App-only banks are on the rise in Europe, The New York Times reports. Millions of customers across Europe, most of them in their 20s and 30s — millennials, or Generation Y, as well as Generation Z — have signed up to app-only ba...

Human Interest /  • November 2, 2018
Fore! charity

This past September, Coast Capital Savings Credit Union’s (555,000 members, $21 billion in assets) 17th annual charity golf tournament raised a record $300,000 for the VGH & UBC Hospital Foundation in support of mental health research...

Economics / Human Interest /  • November 2, 2018
Money laundering needs to be hung out to dry

When it comes to anti-money laundering and anti-terrorist financing measures, Canada is behind the eight ball, according to the report, Hidden Beneficial Ownership and Control: Canada as a Pawn in the Global Game of Money Laundering, releas...

Human Interest /  • November 2, 2018
Once burned, twice shy

This past July, Integris Credit Union (28,000 members, $800 million in assets), based in Prince George, BC, warned members on its blog that insurance companies were backing down from insuring homes in the region — for fear of getting burn...

Economics /  • November 1, 2018
Warnings of a looming financial crisis

Former British prime minister Gordon Brown, leader of the United Kingdom during the Lehman Brothers collapse in late 2008 to early 2009, told The Guardian this past September that the world is “sleepwalking into a financial crisis.” ...

Business / Economics /  • November 1, 2018
Higher mortgage rates predicted due to trade agreement

After 14 months of intense negotiations, Canada, Mexico and the United States inked a new trade deal this past September just hours before deadline. The United States-Mexico-Canada Agreement (USMCA), which replaces the North American Fre...

Finance /  • September 18, 2018
Milestone for FirstOntario Credit Union

FirstOntario Credit Union (118,000 members, $5 billion in assets) has launched its own independent insurance brokerage. This initiative means that FirstOntario has become the first credit union in Ontario to add auto and home insuranc...

Finance / Risk Management /  • September 18, 2018
Added stress

Mortgage Professionals Canada, which represents mortgage brokers and others working in the industry, released a report this past summer stating that an estimated 100,000 Canadians have been prevented from entering the real estate market du...

Finance / Human Interest /  • September 18, 2018
Big little lies

One in five Canadians admitted in a Manulife survey this past May that they have kept their level of debt secret from a married or common-law partner, the CBC reports. Meanwhile, one in nine people hide the price of a retail purchase fro...

Finance / Human Interest /  • September 17, 2018
Poverty insurance

A report from the CD Howe Institute supports the creation of a pooled risk savings program to protect seniors who run out of money in their old age. The report, authored by Bonnie-Jeanne MacDonald, recommends a broad government-led i...

Finance /  • September 17, 2018
Self-employed with a mortgage

On Oct. 1, it will be easier for the country’s self-employed to obtain a mortgage, thanks to Canada Mortgage and Housing Corp (CMHC). The housing agency is providing a broader range of documentation options to increase exibility fo...

Community Development / Human Interest /  • September 14, 2018
Money raised for Kenyan orphanage

CU Direct in Ontario and Alberta’s Servus Credit Union (363,000 members, $15.4 billion in assets) contributed to a fundraising effort at the 2018 World Credit Union Conference held in Singapore this past July to raise money for the Busia ...

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