Real competition is needed in Canada’s banking sector

Credit unions are focused on providing service for generations, not this quarter’s profit target. They look after their members and their communities.

Credit unions are asking federal policy-makers to re-establish the competitive balance in the regulatory system to ensure that Canadian consumers continue to be served by sound financial institutions that put their needs first, writes Martha Durdin, president & CEO of Canadian Credit Union Association.Photograph courtesy of Pixabay

Opinion

BY MARTHA DURDIN

November 5, 2018

Decades of policy decisions at the federal level have helped cement the big banks’ dominant position in Canada. And while this has been beneficial for the banks, their executives and shareholders, Canadian consumers and businesses have paid the price.

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