WOCCU urged the International Association of Deposit Insurers (IADI) to consider credit unions when establishing their public policy objectives. These comments were submitted in response to the IADI’s draft Guidance Paper, ‘Public Policy Objectives for Deposit Insurance Systems’. WOCCU stressed the contributions credit unions have made to financial inclusion through the support of the under-banked communities within their respective jurisdictions and asserted that a proportional approach to deposit insurance PPOs will aid in upholding IADI’s primary principals. WOCCU supported IADI’s primary principles of deposit insurance which are to protect depositors and contribute to financial system stability. Comment Letter to IADI on ‘Public Policy Objects for Deposit Insurance Systems’ can be viewed here.
October 18, 2019