OTTAWA, Sept. 15, 2025 (GLOBE NEWSWIRE) — In a financial landscape increasingly dominated by big banks, FinTech disruptors, and global tech giants, Canada’s credit unions are working hard to remain competitive and community-focused. Today, the Canadian Credit Union Association (CCUA), with the support of MLT Aikins LLP, released a landmark report, Stronger Together, Sooner, a Roadmap for Faster and Fairer Credit Union Merger Reviews. The report issues a clear call to action: Modernize the outdated merger approval process that is slowing credit unions’ ability to grow, innovate, and meet the evolving needs of Canadians.
The report warns that the current merger review process is too slow, overly complex, and ill-suited to today’s digital-first economy. Multiple layers of regulatory approvals—often stretching over a year—create costly delays that hinder innovation, erode competitiveness, and risk leaving communities with fewer financial choices. The existing “one-size-fits-all” approach focuses too narrowly on competition between credit unions, ignoring the reality that they compete daily with banks, FinTechs, and tech giants.
“Every credit union …