Welcome to Risk Management Agency
On this website you will view pertinent information on Risk Management Agency’s stabilization and oversight activities. We encourage you to visit any area of our site and to contact us, at your convenience.
To ensure the establishment of responsible corporate governance for the financial stability of member Credit Unions.
RMA's mission is to promote, support, and regulate sound risk management solutions to preserve and strengthen the economic stability of New Brunswick's Credit Unions.
Our Statement of Purpose
The role of the New Brunswick's Credit Union's Risk Management Agency is to act as part of a tripartite system of Credit Union regulation which includes the Office of the Superintendent of Credit Unions (OSCU) and Credit Union external auditors. RMA's overall responsibilities are closely linked and are directed to the maintenance of public and member confidence in Credit Unions.
Credit Unions Act -
The purposes of a Stabilization Board are:
(a) to protect its member Credit Unions against financial losses and insolvency
i) by promoting the development and implementation of sound business and financial
policies and procedures by Credit Unions,
ii) by establishing and implementing loss prevention programs and other controls, and
iii) by establishing and maintaining a stabilization fund in accordance with this Act,
(b) to provide financial assistance to its member Credit Unions for the purposes of stabilization,
(c) to do such things as may be required or authorized by this Act or the regulations.