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The Market Code of Conduct for Credit Unions

The Market Code of Conduct for Credit Unions

Introduction: Principles in the code

Credit unions are unique institutions. Operating in Canada for over 100 years, credit unions are financial cooperatives that are governed and financed differently than banks. At credit unions, members are shareholders. Being a member means sharing in the credit union’s success. 

Our primary motivation is providing quality products and services to our members. We are committed to ensuring that our members are completely satisfied with the level of services they receive.

Our Market Conduct Code

The Code recognizes the best practice principles we pledge to follow for soliciting, promoting, advertising, marketing, selling or distributing our products or services. The Code demonstrates our commitment to the fair treatment of all those who use our services. We believe in fair sales practices, comprehensive access to banking services, transparency and openness, and a reasonable approach to settling complaints. Individuals are entitled to the best possible care of their financial interests. We respect all our provincial regulatory obligations, and continually practice absolute excellence in consumer protection. Our best practices can be summarized in five key principles: 

Business practices Fair treatment Service access Transparency Complaints

Business practices

We are committed to providing fair treatment to all our members and customers using our products and services. It is a core component of our governance and corporate culture.

Fair treatment and fair sales

Treating members and customers fairly and demonstrating fair sales practices at all times are integral parts of our business practices.

Access to banking services

We ensure that all credit union members and customers are granted access to fundamental financial services.

Transparency and disclosure

The credit union uses plain-language descriptions of products and services in its communications to ensure people make informed decisions.

Complaint handling

We examine complaints and work to settle them fairly, and we track complaints to help ensure our practices continue to improve.