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) |
2009 | 2010/Q1 | 2010/Q2 | 2010/Q3 | 2010 YTD | Cumulative Total |
|---|---|---|---|---|---|---|
| Applications | 3 | 5 | 5 | 3 | 13 | 16 |
| Orders | 1 | 2 | 4 | 0 | 6 | 7 |
| Variations & Exemptions | 1 | 1 | 0 | 1 | 2 | 3 |
| Administrative Penalties | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5 | 8 | 9 | 4 | 21 | 26 |
| * Includes instances where application is pending, not approved or was withdrawn | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Orders Issued and Approvals Granted | ||
| Credit Union Name | Type of Activity | Effective Date |
|---|---|---|
| Education Credit Union Limited (P) Canadian General Tower Employees (Galt) CUL (V) | Purchase of Assets | Nov 30, 2009 |
| Railway Credit Union Limited | Administration | Nov 30, 2009 |
| Prime Financial Savings & CUL (P) Nasco Employees' CUL (V) | Purchase of Assets | Dec 31, 2009 |
| FirstOntario Credit Union Limited | Increase in Lending Limits | Jan 29, 2010 |
| Anishinabek Nation Credit Union Inc. | Supervision | Mar 17, 2010 |
| Margosa Credit Union Inc. | Supervision | Mar 26, 2010 |
| Victory Community CUL (P) Moore Employees' CUL (V) | Purchase of Assets | Mar 31, 2010 |
| APPLE Community CUL (P) Thunder Bay Elevators Employees CUL (V) | Purchase of Assets | Apr 16, 2010 |
| Starnews Credit Union Limited (P) King-York Newsmen Toronto Credit Union Limited (V) | Purchase of Assets | Apr 30, 2010 |
| Prime Financial Savings & CUL (P) Brewers Warehousing Employees (Hamilton) CUL (V) | Purchase of Assets | Apr 30, 2010 |
| Arnstein Community CUL | Supervision | May 27, 2010 |
| Campbell's Employees' (Toronto) CUL | Supervision | June 21, 2010 |
| Domtar Newsprint Employees (Trenton) CUL | Supervision | June 25, 2010 |
| Rochdale Credit Union Limited (P) Polish Alliance (Brant) CUL (V) | Purchase of Assets | June 30, 2010 |
| Victory Community CUL (P) Crown Cork & Seal Employees CUL (V) | Purchase of Assets | June 30, 2010 |
| Canal City Savings and Credit Union Limited | Administration | July 5, 2010 |
| Canadian Transportation Employees' CUL (P) Brewers Warehousing Employees (Kitchener) CUL (V) | Purchase of Assets | July 15, 2010 |
| Meridian Credit Union Limited (P) Sunnybrook Credit Union Limited (V) | Purchase of Assets | July 31, 2010 |
| Starnews Credit Union Limited (P) Air-Toronto Credit Union Limited (V) | Purchase of Assets | August 31, 2010 |
| (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.