Alberta credit union system statement on Bill 32: Credit Union Amendment Act

CALGARY, Nov. 23, 2016 /CNW/ - Graham Wetter, President and CEO of Alberta Central, issued the following statement today in response to the Alberta government's introduction of Bill 32: Credit Union Amendment Act: 

"With the introduction of Bill 32, the Alberta government is moving forward with its commitment to enhance credit union legislation. The Alberta credit union system believes that Bill 32, if passed, will serve to further enhance the competitiveness and sustainability of Alberta credit unions, which in turn will provide further benefits to Albertans, Alberta small and medium-sized businesses, and the provincial economy.

In the last 30 years, credit union legislation in Alberta has not been materially amended. Meanwhile, the financial services sector has undergone significant change. In order to continually serve Albertans by providing them with competitive and innovative financial products and services, credit union legislation must reflect the rapid pace of change impacting the financial services industry and the needs of the Albertans we serve. The introduction of Bill 32 by the Alberta government is a significant step forward in achieving this objective.

On behalf of the Alberta credit union system, I would like to express our appreciation to the Alberta government for its support of our industry. Credit unions are confident that the legislative amendments proposed in Bill 32 will assist credit unions in continuing to effectively serve Albertans and the Alberta communities in which we operate."

Alberta Central is the industry association and central liquidity provider for the Alberta credit union system. There are 23 credit unions in Alberta with over 625,000 members and assets exceeding $24.3 billion. For more information please visit www.albertacentral.com and @ABCreditUnions.

SOURCE Credit Union Central Alberta Limited

Image with caption: "Credit Unions of Alberta (CNW Group/Credit Union Central Alberta Limited)". Image available at: http://photos.newswire.ca/images/download/20161123_C5714_PHOTO_EN_825487.jpg



For further information: Media inquiries may be directed to: Colleen Fortuna, Director, Communications, Alberta Central, Cell: 403-585-7729, Email: colleen.fortuna@albertacentral.com

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Credit Union Central Alberta Limited

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