The Financial Services Commission of Ontario regulates registration of credit unions and caisses populaires under the Credit Unions and Caisses Populaires Act, 1994 (CUCP Act).

On June 24, 2009, the Ontario government announced that amendments to the CUCP Act have been proclaimed to come into effect on October 1, 2009. A new General Regulation under the CUCP Act will also come into force on the same date. New Cost of Borrowing and Disclosure to Borrowers requirements will take effect on October 1, 2010. Read the government's news release and backgrounder below:

Ontario Modernizes Credit Union Regulation – News Release

Ontario Modernizes Credit Union Regulation - Backgrounder

• Amended CUCP Act
• General Regulation
• Cost of Borrowing Regulation (effective 2010)

Background to CUCP Act Amendments

• Modernizing the CUCP Act: A consultation draft of amendments to legislation and regulation
• Modernizing the Credit Unions and Caisses Populaires Act: A Consultation Draft of Amendments to Legislation and Capital and Lending Regulation
• Cost of Borrowing Disclosure Draft Regulations Under: Credit Unions and Caisses Populaires Act, Insurance Act, Mortgage Brokers Act

Credit Union Information

• Ontario Credit Unions and Caisses Populaires Listing
• How to Register a Credit Union or Caisses Populaire
• Financial Action Task Force on Money Laundering
• Guidelines for Credit Unions and Caisses Populaires
• Deposit Institution Forms
• Enforcement Activities

If you have been unable to resolve a complaint with a credit union or caisse populaire, FSCO can be of assistance.

For further information:

Phone: (416) 250-7250
Toll free: 1-800-668-0128
Fax: (416) 226-7870
Attention: Licensing & Market Conduct Division

You may write to:

Licensing & Market Conduct Division
Financial Services Commission of Ontario
5160 Yonge Street, Box 85
Toronto, Ontario M2N 6L9