Credit Union Structure

Primary Tier - Local Credit Unions

At the local level, most credit unions are full-service financial institutions with a wide rage of products to match member needs. Although linked provincially and nationally to other credit unions, each credit union, including GVC Credit Union, operates independently, under the direction of a Board of Directors elected by their members.

Provincial Tier

Provincially, local credit unions are members of "central" credit unions, which provide them with corporate financial services and development support. Centrals also constitute important links to government and to national cooperatives. GVC Credit Union belongs to Central 1 Credit Union and Stabilization Central Credit Union of British Columbia.

National Tier

The third tier is at the national level, consisting of a number of financial cooperatives and the Canadian Credit Union Association, the national trade association for credit unions in Canada.

 

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