Consultation on Draft Commercial Lending Guideline for B.C. credit unions

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BCFSA has consulted on a draft Commercial Lending Guideline (“Guideline”) for B.C. credit unions. The consultation gathered feedback on proposed high-level principles and specific expectations for all B.C. credit unions participating in commercial lending. 

The Guideline will help credit unions follow prudent commercial lending practices that will promote financial stability and consumer protection. Commercial lending poses heightened risk in the current market climate, and BCFSA prioritized the release of the Guideline to ensure credit unions are appropriately managing these risks.

BCFSA values the feedback it receives during consultations and thanks all the credit unions who participated in the consultation on the Commercial Lending Guideline.

Background

The draft Guideline was developed to align with BCFSA’s Commercial Lending Assessment Criteria, providing credit unions with more clarity on BCFSA’s expectations for completing assessments.

Consultation Timeline

Phase 1: Public Consultation
(November 2024 — February 2025)
Phase 2: Implementation
(2026)

Phase 1: Public Consultation (Complete)

BCFSA invited input on the Guideline from B.C. credit unions, industry partners and the public from November 18, 2024 to February 28, 2025.

Responses and comments received during the consultation were used to inform the final version of the Guideline.

BCFSA values the feedback it receives during consultations and treats submissions as confidential records and will not publish individual submissions or attribute content. However, please note that all submissions are subject to the Freedom of Information and Protection of Privacy Act.