Credit Union Deposit Guarantee Corporation - Saskatchewan

Credit Union Deposit Guarantee Corporation (CUDGC) was the first deposit guarantor in Canada, and has successfully guaranteed the full repayment of deposits held in Saskatchewan credit unions since 1953. Over six-decades, CUDGC has evolved to an organization that has played a significant role in the shift to a prudential regulatory model for Saskatchewan credit unions. Since its inception the Corporation has established an exceptional record in deposit security. The Corporation's mandate is established by provincial legislation. In 2014 federal legislation was enacted that shifted regulatory responsibility for the provincial credit union centrals from federal to provincial legislation. Accordingly the provincial government passed The Credit Union Central of Saskatchewan Act, 2016 assigning responsibility for the regulation of SaskCentral to CUDGC. Strong governance practices are an important way the corporation demonstrates the strength of its regulatory regime. A director competency framework has been developed and a selection committee established to select new directors. "Mission"​ As the primary regulator of the Saskatchewan credit union system we guarantee deposits, promote responsible governance practices, ensure sound business and financial practices and support credit union strength and stability