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.
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