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)
2016/Total 2017/Q1 2017/Q2 2017/Total
Applications 10 1 0 1
Orders 3 0 0 0
Variations & Exemptions 0 0 0 0
Administrative Penalties0000
Total 13 1 0 1
* Includes instances where application is pending, not approved or was withdrawn


Orders Issued and Approvals Granted
Credit Union Name Type of Activity Effective Date
Caisse populaire des Voyageurs Inc. (P)
State Farm (Toronto) Credit Union Limited (V)
Purchase of AssetsJanuary 1, 2015
Bay Credit Union Limited (P)
APPLE Community Credit Union Limited (V)
Purchase of AssetsMay 1, 2015
Mainstreet Credit Union Limited (P)
Goderich Community Credit Union Limited (V)
Purchase of AssetsJune 30, 2015
Libro Credit Union LimitedEstablishment of a SubsidiaryAugust 1, 2015
Libro Credit Union Limited (P)
Hald-Nor Community Credit Union Limited (V)
Purchase of AssetsAugust 1, 2015
Mainstreet Credit Union LimitedEstablishment of a SubsidiaryAugust 25, 2015
Northern Credit Union Limited (P)
Saugeen Community Credit Union Limited (V)
Purchase of AssetsAugust 31, 2015
Northern Credit Union Limited (P)
Espanola & District Credit Union Limited (V)
Purchase of AssetsDecember 31, 2015
Alterna Savings and Credit Union Limited (P)
Peterborough Community Credit Union Limited (V)
Purchase of AssetsMarch 1, 2016
Windsor Family Credit Union Limited Establishment of a Subsidiary March 9, 2016
Meridian Credit Union Limited Establishment of a Subsidiary April 30, 2016
PenFinancial Credit Union Limited (P)
Dunnville and District Credit Union Limited (V)
Purchase of AssetsMay 31, 2016
Comtech Fire Credit Union Limited (P)
Limestone Credit Union Ltd. (V)
Purchase of AssetsJuly 31, 2016
Pace Savings & Credit Union Limited (P)
All Trans Financial Services Credit Union Limited (V)
Purchase of AssetsOctober 31, 2016
Pace Savings & Credit Union Limited Establishment of a Subsidiary November 1, 2016
Alterna Savings and Credit Union Limited (P)
Nexus Community Credit Union Limited (V)
Purchase of AssetsDecember 1, 2016
Alterna Savings and Credit Union LimitedCapital VariationDecember 1, 2016
Pace Savings & Credit Union Limited (P)
Durham Educational Employees' Credit Union Limited (V)
Purchase of AssetsJune 30, 2017
(P) = Purchaser; (V) = Vendor