Credit Unions

There are many challenges facing credit unions in today’s environment, from increased regulation to compressed margins and more competition. EKB’s lawyers understand the system and know the people in it.

Credit union law is not the same as the law in other industries. Your lawyer needs to understand what is important to credit unions and what drives them. He or she needs to recognize the unique cooperative nature of credit unions and the importance of doing what is best for the members. Just having “any lawyer” will not do.

We have acted for over half of the credit unions in BC’s credit union system. We have acted for some of the largest credit unions and for some of the smallest. We have been involved with almost every merger in BC since 2000. We also act as General Corporate Counsel for a number of credit unions, including Stabilization Central Credit Union of British Columbia.

We are also at the forefront of helping credit unions cooperate together by setting up and operating credit union service organizations (CUSOs). We have done extensive work with the Solutions Centre and many other CUSOs.

In addition to providing general legal advice to credit unions, we help credit unions in the following areas:

  • Mergers
  • Banking systems
  • Credit card suppliers
  • Securitizations and financings
  • Purchase and sale of mortgage portfolios
  • Employment and wrongful dismissal
  • Leasing
  • Privacy compliance
  • Corporate governance
  • Advice to boards of directors
  • Drafting of rules
  • Purchase and sale of insurance and financial planning agencies
  • Interaction with FICOM
  • General regulatory compliance

Case Study

Sunshine Coast Credit Union

Based on the Sunshine Coast for more than 80 years, Sunshine Coast Credit Union aims to grow a vibrant future for its community, with EKB's support.
Read the full case study