Allow Canadian credit unions to continue calling their services "banking"
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Credit Unions in Canada will no longer be allowed to refer to their services as "banking" thanks to an OSFI decision. This ridiculous order applies to websites by the end of 2017, print material by June 30, 2018 and signs by June 30, 2019.
It's been estimated that these changes will cost Credit Unions and their members upwards of $80 million. This initiative does nothing to help consumers understand the financial marketplace and only serves to help the Big Banks maintain their dominance.
Canadians have been using Credit Unions for over 100 years. We call it banking because there's no better word for it... not because we think Credit Unions are Banks.
Sign this petition and send a message to The Office of the Superintendent of Financial Institutions and the Finance Minister that this action is an unnecessary financial burden for Credit Union members.
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Daryl Plant needs your help with “Office of the Superintendent of Financial Institutions (OSFI): Allow Canadian credit unions to continue calling their services "banking"”. Join Daryl and 7 supporters today.