Credit union regulations change means more clients can avail of financial support amid threats of U.S. tariffs

    Monday, 17 March 2025 12:00

    By Tonya Organ

    Through the Trade Investment Program, an additional $5 billion will be provided over the next two years to help eligible companies navigate the current economic situation. 

    A change to the Credit Union Regulations allows credit unions and their clients throughout Newfoundland and Labrador to avail of financial support through a Government of Canada program announced last week in response to recent American tariffs. Export Development Canada is increasing its financial support to eligible Canadian exporters in anticipation of heightened demand.  Through the Trade Investment Program, an additional $5 billion will be provided over the next two years to help eligible companies navigate the current economic situation.  Funding will be administered through financial institutions, including credit unions. Program regulations have been changed to enable credit union members to avail of the newly announced program, or in potential future programs designed to mitigate financial disruptions for businesses. The credit union system in Newfoundland and Labrador is comprised of 6 credit unions with offices in 36 locations, approximately 61,000 members and employs approximately 320 people.

     

     

     

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Heavy snow

      High: -4°C | Low: -16°C

    • Deer Lake

      Heavy snow

      High: -4°C | Low: -19°C

    • Stephenville

      Heavy snow

      High: -3°C | Low: -11°C

    Recently Played

    Podcasts

    • BayFM On-Demand

      Singer Songwriter Rebecca Hampton on Bay Fm

      Singer Songwriter Rebecca Hampton visits Bay Fm

    • Sunday Night Geek

      Sunday Night Geek, March 29, 2026

      Sunday Night Geek, March 29, 2026

    • Trash Talk

      TRASH TALK THURSDAY

      On this Trash Talk! We welcome a special guest from the City of Corner Brook to talk about their new recycling program! #sortit #trashtalknl #sortitwestern