Privacy Policy

Privacy Statement

Levels Of Protection

Owners with New Brunswick Credit Unions enjoy a comprehensive program where three levels of protection safeguard deposits. 


At The Credit Union Level 


To provide protection against potential financial loss, the Credit Unions Act requires that each Credit Union maintain a level of equity in an amount not less than 5% of its total assets.


At The Risk Management Agency Level


Legislation in New Brunswick requires, among other matters, that Credit Unions pay an annual assessment for the purposes of establishing a stabilization fund which is to be maintained at a minimum of 1.50% of total Credit Union system assets


The stabilization fund is available to provide financial assistance to Credit Unions who have depleted their equity base below the legislated (5%) level.

Under the Credit Unions Act, Risk Management Agency is governed by an eight-member Board of Directors, comprised as follows:



In addition to administering the stabilization fund, the Board of Directors of Risk Management Agency ensure the purpose and mandate of the organization, as established under the Credit Unions Act, are executed in an effective and diligent manner.


At The New Brunswick Credit Union Deposit Insurance Corporation (NBCUDIC) Level  


The New Brunswick Credit Union Deposit Insurance Corporation (NBCUDIC) is a Crown corporation established under the Credit Unions Act of New Brunswick. The Corporation provides deposit insurance to members of New Brunswick credit unions. For information on deposit insurance coverage refer to www.assurance-nb.ca or call (506) 453-2315.


Additional Safeguards


The Credit Unions Act provides Risk Management Agency with the regulatory power to fulfill its obligations to Credit Union depositors. Deposit protection within New Brunswick Credit Unions is predicated on a healthy provincial system, where sound business and financial policies and procedures are in place and effective. A comprehensive loss prevention program with the appropriate controls at every level of its operation instills a solid risk management mandate within the Credit Union. As mandated under the Credit Unions Act, each Credit Union must undertake an independent external audit to provide assurance to depositors on the integrity of the financial reporting.