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

      Sunny intervals

      High: 26°C | Low: 14°C

    • Deer Lake

      Sunny intervals

      High: 23°C | Low: 13°C

    • Stephenville

      Sunny intervals

      High: 26°C | Low: 16°C

    Recently Played

    Podcasts

    • Center Stage with Stella

      Center Stage with Stella

      Center Stage with Stella, Wednesday July 29, 2026

    • NL Summer Games 2026

      Blaze's Corner, Thursday July 30, 2026

      Just over a week away from the Opening Ceremonies for the NL Summer Games

    • BayFM On-Demand

      Elder Dog Canada, Corner Brook Pawd

      They will be at the Best on West Car Show on Saturday August 1