CUDIC Comprehensive Fund Size Review

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BC Financial Services Authority (“BCFSA”) has undertaken a comprehensive review (“Review”) of the size of the Credit Union Deposit Insurance Corporation of British Columbia (“CUDIC”) deposit protection fund (“Fund”). A periodic Review ensures the Fund is appropriate for the financing conditions and operating environment of BCFSA’s authorized credit union sector.

BCFSA developed and released a consultation paper, inviting feedback during a 30-day consultation period, from November 18, 2021 to December 17, 2021. The period for providing feedback has now closed.

BCFSA wishes to thank those credit unions that provided feedback on the Comprehensive Fund Size Review – Consultation Paper issued in November 2021 and credit union participants at the Comprehensive Fund Size Review Working Group sessions in January and February 2022. BCFSA also wishes to acknowledge support provided by the Canadian Credit Union Association for their role in organizing attendance at the working group sessions.

BCFSA treats submissions of feedback as confidential records and does 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.