Summary

The Credit Union Amendment Act, 2025 modifies The Credit Union Act, 1998 to change procedures for members withdrawing from or being terminated by credit unions, including new appeal processes and timelines. It reduces the voting threshold for special resolutions from three-fourths to two-thirds, and updates administrative provisions such as notice methods and record retention rules.

This bill changes how Saskatchewan credit unions handle membership withdrawals and terminations. Members can now withdraw by oral notice, and if the credit union sends written confirmation, the withdrawal becomes effective unless the member objects within a timeframe set in regulations. For involuntary terminations, the bill creates three possible appeal paths: appeal to the credit union membership, appeal to membership with restricted submission format, or appeal to court. The board decides which path applies based on whether circumstances like employment law violations or court order breaches could occur. The bill also makes it easier to pass special resolutions by lowering the required approval from three-quarters to two-thirds of voting members. It updates several administrative processes, including allowing credit unions to charge fees for extra copies of bylaws beyond the first free copy, and removes references to certified mail, which no longer exists.