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) |
2016/Total | 2017/Q1 | 2017/Q2 | 2017/Q3 | 2017/Total | ||
|---|---|---|---|---|---|---|---|
| Applications | 10 | 1 | 0 | 1 | 2 | ||
| Orders | 3 | 0 | 0 | 0 | 0 | ||
| Variations & Exemptions | 0 | 0 | 0 | 0 | 0 | ||
| Administrative Penalties | 0 | 0 | 0 | 0 | 0 | ||
| Total | 13 | 1 | 0 | 1 | 2 | ||
| * Includes instances where application is pending, not approved or was withdrawn |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 Assets | January 1, 2015 |
| Bay Credit Union Limited (P) APPLE Community Credit Union Limited (V) | Purchase of Assets | May 1, 2015 |
| Mainstreet Credit Union Limited (P) Goderich Community Credit Union Limited (V) | Purchase of Assets | June 30, 2015 |
| Libro Credit Union Limited | Establishment of a Subsidiary | August 1, 2015 |
| Libro Credit Union Limited (P) Hald-Nor Community Credit Union Limited (V) | Purchase of Assets | August 1, 2015 |
| Mainstreet Credit Union Limited | Establishment of a Subsidiary | August 25, 2015 |
| Northern Credit Union Limited (P) Saugeen Community Credit Union Limited (V) | Purchase of Assets | August 31, 2015 |
| Northern Credit Union Limited (P) Espanola & District Credit Union Limited (V) | Purchase of Assets | December 31, 2015 |
| Alterna Savings and Credit Union Limited (P) Peterborough Community Credit Union Limited (V) | Purchase of Assets | March 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 Assets | May 31, 2016 |
| Comtech Fire Credit Union Limited (P) Limestone Credit Union Ltd. (V) | Purchase of Assets | July 31, 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 | Establishment of a Subsidiary | November 1, 2016 |
| Alterna Savings and Credit Union Limited (P) Nexus Community Credit Union Limited (V) | Purchase of Assets | December 1, 2016 |
| Alterna Savings and Credit Union Limited | Capital Variation | December 1, 2016 |
| Pace Savings & Credit Union Limited (P) Durham Educational Employees' Credit Union Limited (V) | Purchase of Assets | June 30, 2017 |
| (P) = Purchaser; (V) = Vendor |