Provincial Government Making Change to Credit Union Regulations

There are some changes to the Credit Union Regulations. Credit unions and their clients in the province can avail of financial support through a Government of Canada program announced in response to recent American tariffs.

Export Development Canada is increasing its financial support to eligible Canadian exporters in anticipation of heightened demand for its financing and insurance solutions, including loans, guarantees and working capital support. Through the Trade Investment Program, an additional $5 billion will be provided over the next two years to help eligible companies navigate the current economic situation.

Funding support for this program will be administered through financial institutions, including credit unions.

Before this change, regulations restricted the availability of unsecured commercial loans in excess of $25,000. The Regulations have been changed to allow credit unions and their members to avail of any relevant Federal or Provincial Government programs meant to alleviate financial hardship for businesses.