Attention: Fee changes for credit unions are coming
Changes are coming to the fees that credit unions pay, and the Financial Services Regulatory Authority of Ontario (FSRA) is providing advanced notice. These changes were made to better reflect the actual costs of the services FSRA provides to specific credit unions. It would be unfair to have the entire sector bear some of these specific costs.
FSRA’s final Rule 2022 – 001 Assessments and Fees (Fee Rule) will come into effect next month.
Section 3.2 in the Fee Rule for the credit union and caisses populaires sector has changed and will become effective on December 1, 2023.
Assessment fees (section 3.1 in the Fee Rule) remain the same until early next year. FSRA will notify you of changes in assessment fees then.
If you have any questions or concerns, please don’t hesitate to contact your relationship manager.
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.