From a solvency point of view, the risk is lower. Given that most credit unions, whether they're provincial or federal, would be engaged in what we would call plain vanilla activities, taking savings, simple loans, and credit; they're not involved in risky capital markets activity by and large. Some of the bigger ones are, but they largely do that for funding purposes. By and large, credit unions are simple financial institutions and they have a good track record that supports that.
On May 10th, 2016. See this statement in context.