Credit Union Members

Credit Union Members

The Credit Union Act, 1998 provides the overall framework for the incorporation and regulation of credit unions in Saskatchewan. The Act describes the responsibilities, obligations and powers of credit unions, the Registrar of Credit Unions, and the Credit Union Deposit Guarantee Corporation.

For information about credit unions select from the options below.

 

• Purpose of credit unions
• File a complaint
• Credit Union Central of Saskatchewan

 

Purpose of Credit Unions

• provide financial and other services;
• operate on co-operative principles;
• must use "credit union" or "caisse populaire" in their name;
• are responsible for the prudent management of their business, including compliance with legislation and standards of sound business practice; and
• are governed by locally elected boards of directors.

 

File a complaint

If you have a complaint about a credit union, we encourage you to take the following steps to resolve it.

Step 1: Talk to your Credit Union

If you have a complaint or concern, the first place to make it known is at the credit union. This process is:

• free of charge and
• available to you by contacting the credit union and asking for the Compliance Officer or employee that handles complaints.

 

Step 2: Ombudsman for Banking Services and Investments (OBSI)

If you are dissatisfied after dealing with your credit union, you may contact OBSI. OBSI is an independent, national organization that investigates customer complaints against financial service providers, including credit unions. This service is available to customers free of charge. OBSI can be contacted at:

Ombudsman for Bank Services and Investments
401 Bay Street, Suite 1505
P.O. Box 5
Station Adelaide
Toronto, ON M5H 2Y4
Toll-Free Phone: 1-888-451-4519
Email: ombudsman@obsi.ca
Website: www.obsi.ca

 

 

Credit Union Central of Saskatchewan (CUCS)

Credit unions own Credit Union Central of Saskatchewan also known as SaskCentral, which functions as liquidity manager for Saskatchewan credit unions.