Bill 33 (The Credit Union Amendment Act, 2025)
Second Reading

From Hansard (12 November 2025)

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Hon. Tim McLeod: — Thank you, Mr. Speaker. I rise to move second reading of Bill No. 33, The Credit Union Amendment Act, 2025. This bill will modernize certain portions of The Credit Union Act, 1998.

In both 2020 and 2023, the Canadian Credit Union Association consulted the CEOs [chief executive officer] and general managers of Saskatchewan credit unions and compiled a list of priorities and concerns for possible amendments to the Act.

This bill will amend the threshold required for members to pass a special resolution from the current three-quarters to two-thirds to align with other provinces, except for certain matters in Quebec. It will authorize certain responsibilities to be delegated by a credit union board to employees. It will provide a definition for the term “professional adviser” to remove ambiguity about the eligibility for an individual to be on a credit union’s board of directors. It will create future flexibility to allow regulations to prescribe certain requirements or time frames. And it will clarify how deposits are paid out when a membership is terminated.

Additionally credit unions have requested changes to the membership termination process as they have found the current Act to be unclear. Amendments in this bill will revise the member termination and appeal process to clarify requirements. It will allow the board of a credit union in certain situations to direct the terminated member’s form of submissions to be made during an appeal to the members of a credit union. And it will authorize the board to replace the appeal to the membership with an appeal to the court, if the board reasonably believes an appeal to the membership cannot be done in any form without violating certain obligations of the credit union or an order of the court.

Mr. Speaker, I am pleased to move second reading of Bill 33, The Credit Union Amendment Act, 2025.

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