Credit Union Members

Credit Union Members

The Credit Union Act, 1998 (Act) 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.

A listing of credit unions authorized to operate in Saskatchewan pursuant to the Act is available at:https://www.cudgc.sk.ca/the-role/saskatchewan-credit-unions/

For information about credit unions select from the options below.

• Purpose of credit unions
• File a complaint
• Registered Credit Unions in Saskatchewan
• 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 Banking Services and Investments
20 Queen Street West, Suite 2400
P.O. Box 8
Toronto, ON M5H 3R3
Toll-Free Phone: 1-888-451-4519
Email: ombudsman@obsi.ca
Website: www.obsi.ca

 

Registered Credit Unions in Saskatchewan 

In addition to the credit unions authorized to operate in Saskatchewan  under the Act, extra-provincial credit unions are eligible to be registered pursuant to The Credit Union Act, 1985. The activities of these credit unions are limited to becoming eligible for membership in the Co-operative Superannuation Society, registering a security in Saskatchewan, or taking steps for the purposes of collecting a loan that is owed to it.  

Official registry information of all credit unions registered in Saskatchewan is available from the corporate registry at https://www.isc.ca/corporateregistry 

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.