Credit unions are unique institutions. Operating in Canada for over 100 years, credit unions are financial cooperatives that are governed and financed differently than banks. At credit unions, members are shareholders. Being a member means sharing in the credit union’s success. Our primary motivation is providing quality products and services to our members. We are committed to ensuring that our members are completely satisfied with the level of services they receive.
This is our Market Conduct Code.
This is our Market Conduct Code.
The Code recognizes the best practice principles we pledge to follow for soliciting, promoting, advertising, marketing, selling or distributing our products or services. The Code demonstrates our commitment to the fair treatment of all those who use our services. We believe in fair sales practices, comprehensive access to banking services, transparency and openness, and a reasonable approach to settling complaints. Individuals are entitled to the best possible care of their financial interests. We respect all our provincial regulatory obligations, and continually practice absolute excellence in consumer protection.
Our best practices can be summarized in five key principles:
Our best practices can be summarized in five key principles:
Business Practices: We are committed to providing fair treatment to all our members and customers using our products and services. It is a core component of our governance and corporate culture.
Fair Treatment and Fair Sales: Treating members and customers fairly and demonstrating fair sales practices at all times are integral parts of our business practices.
Access to Banking Services: We ensure that all credit union members and customers are granted access to fundamental financial services.
Transparency and Disclosure: The credit union uses plain-language descriptions of products and services in its communications to ensure people make informed decisions.
Complaint Handling: We examine complaints and work to settle them fairly, and we track complaints to help ensure our practices continue to improve.
Click here to read our complete Market Conduct Code.
Code of Conduct for the Payment Card Industry in Canada
Your Neighbourhood Credit Union (YNCU) adheres to the Canadian Code of Practice for Consumer Debit Card Services and the Code of Conduct for the Payment Card Industry in Canada. These codes are designed to protect members’ interests in relation to payment card services, including the issuance and acceptance of payment cards and the operation of payment card networks.
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Your Neighbourhood Credit Union (YNCU) is a licensed credit union operating in, and under the laws of, the province of Ontario. Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA) .
