In this section:
| FSRA is actively reviewing all DICO regulatory direction, including but not limited to forms, guidelines and FAQs.Until FSRA issues new regulatory direction, all existing regulatory direction remains in force. |
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) |
2018/Total | 2019/Q1 | 2019/Q2 | 2019/Q3 | 2019/Total | ||
|---|---|---|---|---|---|---|---|
| Applications | 7 | 1 | 0 | 0 | 1 | ||
| Orders | 4 | 0 | 0 | 0 | 0 | ||
| Variations & Exemptions | 0 | 0 | 0 | 0 | 0 | ||
| Administrative Penalties | 0 | 0 | 0 | 0 | 0 | ||
| Total | 11 | 1 | 0 | 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| * Includes instances where application is pending, not approved or was withdrawn |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 |
|---|---|---|
| Alterna Savings and Credit Union Limited (P) City Savings & Credit Union Limited (V) | Purchase of Assets | April 30, 2019 |
| Tandia Financial Credit Union Limited | Establishment of a Subsidiary | December 10, 2018 |
| Alterna Savings and Credit Union Limited (P) Toronto Municipal Employees' Credit Union Limited (V) | Purchase of Assets | December 1, 2018 |
| Caisse populaire Alliance Limitée (P) L'Alliance des Caisses populaires de l'Ontario Limitée (V) | Purchase of Assets | October 31, 2018 |
| Pace Savings & Credit Union Limited | Administration | September 28, 2018 |
| Meridian Credit Union Limited | Establishment of two Subsidiaries | August 1, 2018 |
| FirstOntario Credit Union Limited | Establishment of two Subsidiaries | July 5, 2018 |
| Windsor Family Credit Union Limited (P) Utilities Employees' (Windsor) Credit Union Limited (V) | Purchase of Assets | June 30, 2018 |
| Ukrainian Credit Union Limited | Establishment of a Subsidiary | May 22, 2018 |
| Creative Arts Savings & Credit Union Limited | Supervision | March 14, 2018 |
| Luminus Financial Services & Credit Union Limited (P) Victory Community Credit Union Limited (V) | Purchase of Assets | December 29, 2017 |
| Pace Savings & Credit Union Limited (P) London Fire Fighters' Credit Union Limited (V) | Purchase of Assets | November 30, 2017 |
| Tandia Financial Credit Union Limited (P) MemberOne Credit Union Limited (V) | Purchase of Assets | November 30, 2017 |
| Pace Savings & Credit Union Limited (P) Durham Educational Employees' Credit Union Limited (V) | Purchase of Assets | June 30, 2017 |
| Alterna Savings and Credit Union Limited | Capital Variation | December 1, 2016 |
| Alterna Savings and Credit Union Limited (P) Nexus Community Credit Union Limited (V) | Purchase of Assets | December 1, 2016 |
| Pace Savings & Credit Union Limited | Establishment of a Subsidiary | November 1, 2016 |
| Pace Savings & Credit Union Limited (P) All Trans Financial Services Credit Union Limited (V) | Purchase of Assets | October 31, 2016 |
| Pace Savings & Credit Union Limited (P) All Trans Financial Services Credit Union Limited (V) | Purchase of Assets | October 31, 2016 |
| Comtech Fire Credit Union Limited (P) Limestone Credit Union Ltd. (V) | Purchase of Assets | July 31, 2016 |
| PenFinancial Credit Union Limited (P) Dunnville and District Credit Union Limited (V) | Purchase of Assets | May 31, 2016 |
| Meridian Credit Union Limited | Establishment of a Subsidiary | April 30, 2016 |
| Windsor Family Credit Union Limited | Establishment of a Subsidiary | March 9, 2016 |
| Alterna Savings and Credit Union Limited (P) Peterborough Community Credit Union Limited (V) | Purchase of Assets | March 1, 2016 |
| (P) = Purchaser; (V) = Vendor |