Citizens Credit Union
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Credit Unions in Canada are provincially regulated. In the Province of New Brunswick, they are governed by the NB Credit Unions Act and Regulations which may be viewed at the Provincial Web Site under Department of Justice: www.gnb.ca Residents of communities invest in their local credit unions by purchasing shares, thereby becoming owners. You will find in this site, that the terms ‘investor’ or ‘owner’ are used rather than ‘customer’. Citizens Credit Union Limited History When residents of Fredericton Junction and surrounding areas learned that their financial institution would be closing its doors in May of 1996, they could not see how they would survive without a financial institution. A core group of people formed a ‘steering committee’ to investigate the viability of a credit union in the area. After much hard work, the newest charter in over 15 years was approved by the Department of Justice for Citizens Credit Union to open its doors. The credit union opened April 2, 1997.
Author: Prostobank Consulting
Source: banks website