Great news for Canadian Credit Unions!

Great news for Canadian #creditunions! Credit Unions will have flexibility using terms ‘bank’ and ‘banking’ while serving Canadians. Finance Minister Bill Morneau announced the decision to amend the Bank Act in the Federal Budget.

Last year, CCUA asked the federal government to review Bank Act restrictions around the use of banking terminology. This week, Finance Minister Bill Morneau announced the decision to amend the Bank Act and allow credit unions flexibility using terms such as ‘bank’ and ‘banking’. A great victory for credit unions and Canadians alike.

#ICYMI: “Banking” with a credit union is no longer disputed. Finance Minister Bill Morneau announced the decision to amend the Bank Act. Credit Unions will have flexibility using terms ‘bank’ and ‘banking’ while serving Canadians. Learn more.

 

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