How Is DICO Governed?

Statutory Objects

DICO'S Statutory Objects and Role as an Agency of the Province of Ontario

DICO's mandate is set out in the Credit Unions and Caisses Populaires Act, 1994 . The statutory objects of the Corporation under the Act are to:

  • provide insurance against the loss of part or all of deposits with credit unions;
  • promote and contribute to the stability of the credit union sector in Ontario with due regard to the need to allow credit unions to compete effectively while taking reasonable risks;
  • pursue the objects set out in clauses (a) and (b) for the benefit of persons having deposits with credit unions and in such manner as will minimize the exposure of DICO to loss;
  • collect, accumulate and publish such statistics and other information related to credit unions as may be appropriate;
  • perform the duties provided under this Act or the regulations or do anything DICO is required or authorized to do under this Act or the regulations; and
  • carry out such other objects as the Minister may specify in writing or as may be prescribed.