Mr. Speaker, the credit union system is an important part of the Canadian economy and contributes to competition in financial services. Credit unions are key suppliers of financing for small and medium-sized businesses, and also for Canadians from coast to coast to coast. We have encouraged the Office of the Superintendent of Financial Institutions to get in touch with the credit unions and to work collaboratively to ensure they come up with a solution that can work for both.
In the House of Commons on June 19th, 2017. See this statement in context.