FSRA warns consumers that HonoUno is not a registered Credit Union in Ontario
The Financial Services Regulatory Authority (FSRA) is alerting consumers that any entity using the name of “HonoUno Credit Union” or “HonoUno Credit Union Foundations” is not a registered credit union in Ontario.
In accordance with the Credit Unions and Caisses Populaires Act, 2020, “No person, other than a credit union or person or entity prescribed by regulation, shall carry on business using a name in which “credit union” or “caisse populaire” is used.
Consumers can find a list of all Credit Unions and Caisses Populaires registered to do business in Ontario on FSRA’s website. Currently, HonoUno Credit Union or HonoUno Foundations are not on the list.
Deposits made with anyone who is not registered as a credit union or caisses populaire in Ontario are not covered through the Deposit Insurance Reserve Fund (DIRF).
Deposit insurance is part of a comprehensive regulatory framework which protects consumers of credit unions and caisses populaires and helps ensure the safety and soundness of the credit union sector in Ontario. For more information on Deposit Insurance, visit FSRA’s Credit Union and Deposit Insurance page.
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.
For public inquiries, please email [email protected]