Credit Unions are independent member owned financial institutions that provide financial services to most communities in Nova Scotia. Currently, 33 credit unions operating in 81 communities are incorporated under the
Credit Union Act.
All Credit Unions incorporated in the Province are regulated by the Office of the Superintendent of Credit Unions. The Office is responsible for approving the incorporation of credit unions, their by-laws and for the general administration of the Credit Union Act. The Act describes the responsibilities, obligations and powers of credit unions of the Superintendent of Credit Unions and the Credit Union Deposit Insurance Corporation.
The
Credit Union Central of Nova Scotia represents and supports the credit unions of Nova Scotia and Newfoundland and Labrador. This includes financial services to the credit unions of Nova Scotia and Newfoundland, as well as trade association and support services in Nova Scotia.
The role of the
Nova Scotia Credit Union Deposit Insurance Corporation (NSCUDIC) is to provide deposit insurance for credit unions and caisses populaires in Nova Scotia, Canada.
ComplaintsIf a member of the credit union has a concern or complaint with the service or products provided, they should first approach their own credit union to resolve the issue. If this does not satisfy the problem, the credit union system provides an avenue for dispute resolution through the services of an ombudsperson. The ombudsperson seeks a fair resolution and does not advocate for either the complaint or the credit union.
More information on the credit union ombudservice may be found on the Credit Union Central of Nova Scotia website.
LinksCredit Union: Incorporation (and Registration)
Credit Union Central of Nova Scotia
Nova Scotia Credit Union Deposit Insurance Corporation
Credit Union Central of Canada
Canada Deposit Insurance Corporation
Canadian Bankers Association
Publications and LegislationsConsumer Protection Act
Mortgage Brokers and Lenders Registration Act