The federal government has given the go-ahead to one of credit unions’ top asks.  When CU Nation advocates met with MPs during our "Hike the Hill" in November, we asked them to urge the government to publish the final regulations and proclaim federal credit union legislation into force.  In early December, Canadian Central got word that Finance Canada was preparing to do just that.

On December 19th, the federal government finally brought into force federal credit union legislation that was contained in the 2010 federal budget.  As a result, credit unions will be allowed to continue or incorporate as federal credit unions under the Bank Act.  Having this enactment occur before the end of 2012 is a win for CU Nation advocates, the credit union system, and financial consumers across Canada.

A new study confirms what CU Nation advocates have been telling legislators about Farm Credit Canada.  Namely, that among Crown financial corporations, FCC’s business practices are “farthest removed from a complementary role” with credit unions.  The new report by the influential C.D. Howe Institute says that instead of acting in a complementary way, FCC has grown its share of farm lending by competing directly with other financial institutions.

Based on analysis of financial data and stakeholder interviews, the study recommends that Parliament require that the FCC “have a clearly articulated mandate that focuses on the need to be complementary to private institutions” and be subject to regular statutory review just like other Crown financial corporations. Canadian Central is making sure that legislators are made aware of this research. As part of this effort, this blog post by CEO David Phillips outlines Canadian Central's position in light of the report.

When was the last time you sent your MP a birthday card? 

Sounds corny, right?  But a political staffer we spoke to said his boss took notice of birthday greetings she received from constituents.  It made a difference, precisely because it was unexpected.  It also mattered that the message was brief and genuine and that it came from a person she had met a few times in the riding.

If you’re already building a good relationship with your MP, consider using this pro-tip to really stand out.  You can look up your MP’s birthdate by finding and clicking on their name here.