‘We need more competition’: How overregulation is holding Canada’s credit unions back

Jeff Guthrie, the president and CEO of the Canadian Credit Union Association, discusses the significant but underutilized role of Canada’s credit union network in the country’s financial services ecosystem. Ahead of their Hike the Hill event in Ottawa this week, Guthrie explains how the unions are being constrained by provincial regulations that prevent them from operating nationally and competing effectively with major banks, and argues that streamlining federal continuance processes and embracing regulatory proportionality could unleash credit unions as a homegrown source of financial competition.