Industry Challenges
At MNP, we design our financial services area based on the needs of our clients and the industry. Credit Unions continue to face a number of challenges, including:
- A low interest rate environment
- Liquidity tightening
- Increased regulatory requirements
- Banking system conversions
- Changing accounting standards
- Mergers and integration
- Human Resources, including recruitment and retention
Credit Unions will benefit from emerging opportunities in Canada. In the 2010 Federal Budget, Bill C-9 was introduced, proposing new legislation relating to the regulation of financial services which will enable Credit Unions to incorporate or continue existing operations federally. This will provide additional opportunities for diversification of business and ensure Credit Unions will be able to provide their members with a broader range of financial services.
By understanding the needs of our Credit Union clients and having dedicated resources across Canada in this area, we work together to share best practices with our clients.
To find out how MNP can help, contact Annette Kuckartz, CA, National Credit Union Leader at 1.877.500.0778 or any member of our Credit Union Team.