In this section:
Regulatory Activities
To protect consumers and enhance public confidence in the credit union/caisse populaire sector, DICO takes appropriate regulatory action in situations where a credit union is
in non-compliance with the Act and Regulations governing the sector. Consistent with DICO's commitment to transparency, fairness and responsiveness, details of all
orders, administrative penalties levied, and other regulatory activities are available on DICO's website.
| Summary of All Regulatory Activities * | |||||||
| Category (hover over titles for descriptions) |
2010/Q4 | 2010 Tot. | 2011/Q1 | 2011/Q2 | 2011/Q3 | 2011/Q4 | 2011 Tot. |
|---|---|---|---|---|---|---|---|
| Applications | 4 | 15 | 2 | 3 | 3 | 3 | 11 |
| Orders | 0 | 7 | 1 | 4 | 2 | 1 | 8 |
| Variations & Exemptions | 1 | 3 | 1 | 0 | 0 | 0 | 1 |
| Administrative Penalties | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5 | 25 | 4 | 7 | 5 | 4 | 20 |
| * Includes instances where application is pending, not approved or was withdrawn |
| Orders Issued and Approvals Granted | ||
| Credit Union Name | Type of Activity | Effective Date |
|---|---|---|
| Sudbury Credit Union Limited (P) Community Saving and Credit Union Limited (V) | Purchase of Assets | January 1, 2011 |
| Sudbury Credit Union Limited | Capital Variation | January 1, 2011 |
| Anishinabek Nation Credit Union Inc. | Administration | January 19, 2011 |
| St. Stanislaus-St. Casimir's Polish Parishes CUL | Supervision | March 28, 2011 |
| Meridian Credit Union Limited | Invest in another CU | March 30, 2011 |
| Margosa Credit Union Inc. | Administration (Repealed) | April 27, 2011 |
| Holy Angel's and St. Anne's Parish (St. Thomas) CUL | Administration | May 9, 2011 |
| Scarborough Hospitals Employees' CUL | Supervision | May 25, 2011 |
| APPLE Community Credit Union Limited (P) C.N.R. Employees (Lakehead Terminal) CUL (V) | Purchase of Assets | June 30, 2011 |
| McMaster Savings and Credit Union Limited | Supervision | July 4, 2011 |
| Prosperity One Credit Union Limited (P) Sheridan Park Credit Union Limited (V) | Purchase of Assets | August 1, 2011 |
| Libro Credit Union Limited (P) 3M Employees' (London) Credit Union Limited (V) | Purchase of Assets | August 31, 2011 |
| Luminus Financial Services & Credit Union Limited (P) Food Family Credit Union Limited (V) | Purchase of Assets | September 30, 2011 |
| Prosperity One Credit Union Limited (P) Scarborough Hospitals Employees' CUL (V) | Purchase of Assets | October 31, 2011 |
| The Energy Credit Union Limited (P) Lasco Employees' (Whitby) Credit Union Limited (V) | Purchase of Assets | October 31, 2011 |
| Margosa Credit Union Limited | Administration | November 29, 2011 |
| Windsor Family Credit Union Limited (P) Hir-Walk Employees' (Windsor) CUL (V) | Purchase of Assets | December 31, 2011 |
| (P) = Purchaser; (V) = Vendor |
For Insured Institutions ONLY:
Further information is available in the secured part of our website, on the page Applications, Variations and Exemptions, Compliance Orders, Other Powers.