Canadian Credit Union Association Gathers Financial Leaders in Ottawa to Advocate for Over 11 Million Credit Union Members

OTTAWA, ON, Nov. 18, 2024 /CNW/ - The Canadian Credit Union Association (CCUA) is proud to host its annual Hike the Hill this year on November 18-19, 2024. The two-day event brings together credit union leaders and policymakers to discuss the evolving needs of Canada's credit union sector.

This year's event will focus on ensuring Canadians continue to benefit from a competitive, dynamic, and community-oriented financial system.

"With over 11 million members nationwide, credit unions play a vital role in supporting Canada's economy," said Jeff Guthrie, President and CEO of CCUA. "As we engage with policymakers during Hike the Hill, we're advocating for a financial landscape that prioritizes consumer choice, innovation, and fairness — one that allows credit unions to continue driving local growth and delivering exceptional service."

Advocating for Competition and Consumer Choice

This year, credit union leaders will focus on two critical policy areas: enhancing options for credit union growth by expanding continuance and merger opportunities to improve competitiveness and provide Canadians with greater financial choice, as well as ensuring inclusion in federal programs to level the playing field and enable credit unions to fully support Canada's economic resilience.

In a recent op-ed published in The Hill Times, Michael Hatch, CCUA's Vice President of Government Relations, underscored the need for robust competition in Canada's financial sector.

"Credit unions provide some of the only competition to the large banks that dominate our market," Hatch said. "Further consolidation in the credit union sector strengthens — not weakens —competition, ensuring Canadians have access to affordable, consumer-focused banking options."

With 21% of the small business lending market and 16% of the mortgage market, credit unions are not just financial institutions — they are community builders. For two decades, credit unions have been ranked the best for customer service among all financial institutions in the Ipsos Financial Service Excellence Awards, reflecting their dedication to delivering profits for people.

About Canadian Credit Union Association

The Canadian Credit Union Association (CCUA) is the national trade association for Canada's credit unions and caisses populaires, excluding the Desjardins Group. Canada's 185 credit unions and caisses populaires are leaders in small business lending and hold $312 billion in assets.  Learn more at www.ccua.com.

SOURCE Canadian Credit Union Association Cooperative

Carla Wintersgill, Senior Manager, External Communications, Canadian Credit Union Association, [email protected], 416-574-4632