Loss Prevention Philosophy

Prevention is our key deposit protection strategy. We focus on supporting the strength of credit unions by working closely with credit union board members and managers. The Corporation relies on the skills and experience of these people to ensure credit unions provide an effective level of deposit protection at the local level. As a result, we make investments in programs that support the ongoing development of local decision makers at the credit union level.

We believe that frequent and open communication with credit unions contributes to our success in achieving our regulatory responsibilities. By sharing information and performance observations in a timely manner, the Corporation assists credit unions in identifying trends or potential risks and anticipating industry changes.

This proactive approach has proven to be an important contributor to the fact that no depositor has ever incurred a loss on deposits made in a Saskatchewan credit union.