UNI becomes the first Canadian Credit Union to obtain a federal charter.
Posted on Monday July 04, 2016
Nearly 18 months after having received a merger approval from its members, UNI begins a new chapter in its history by becoming the first Canadian Credit Union to obtain a federal charter.
The news was confirmed at UNI’s head office, in Caraquet, when CEO Camille Thériault was informed by the office of the Minister of Finance, the Honourable Bill Morneau, that the continuance request as a federal credit cooperative had been officially approved. This will allow UNI to be legally regulated by one of the most reliable and safe banking systems in the world.
“It is an historical moment that fills me with joy since we are witnessing the culmination of this ambitious project after months of hard work. It is here, in New Brunswick, that we gave ourselves the means, as an institution, to increase our agility and better answer the needs of our members and customers. This is without a doubt a testament of UNI’s courage and audacity. We are once again reaffirming our position as a leader”, pointed out CEO Camille Thériault.
When the collective bridging project was submitted to the vote of its members in November 2014, the transfer of the new merged entity to a federal charter had been identified as an essential requirement that would allow members and communities to take advantage of greater benefits. By merging, the institution is now ranked among the 10 most important Credit Unions and caisses populaires in the country.
“Our institution was able to hold its own as a collective development tool for more than 75 years in Acadie. By transferring to a federal charter, on July 1, we are embarking on a road that will lead us to change and modernization. We have met all requirements that will allow us to meet our members’ expectations, particularly for new generations”, added Camille H. Thériault.
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About UNI Financial Cooperation
Since 1936, UNI Financial Cooperation has been the most important Acadian financial institution, armed with its $3.7 billion in assets and its 1,000 employees. Thus, every day, the institution strives to inspire, support and fund the individual and collective assets of New Brunswickers. For more information, visit www.uni.ca
For additional information:
Communications and Public Relations Consultant
Telephone: 506 726-4785 Cell : 506 724-0078