Policy

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FIA / CUIA Legislative Consultation - Empowering CUDIC - Beyond FICOM's Shadow

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FIA / CUIA Legislative Consultation - Empowering CUDIC - Beyond FICOM's Shadow

CUDIC has outgrown legacy legislation and FICOM’s shadow. CUDIC is responsible for deposit insurance of a C$77 billion industry that is used by almost half of British Columbians. Larger than most Canadian credit unions then it warrants full-time, permanent executive leadership. Larger than most B.C. Crown Corporations then it deserves independent, empowered and accountable governance oversight.

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Credit Union Deposit Insurance Policy - 1/2 - Overview, History, Pros & Cons

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Credit Union Deposit Insurance Policy - 1/2 - Overview, History, Pros & Cons

A policy of unlimited deposit insurance may have significantly supported system growth and membership confidence. But it is unknown outside of Western Canada, may cause moral hazard, and may be increasingly expensive to credit unions in terms of earnings, capital and compliance.