Our history

Established in 1974 as the Credit Union Stabilization Corporation, we are a pillar of financial security for Albertans. We began with a simple goal – to insure 100% of Alberta’s credit union deposits. In 1976, we broadened our scope by including credit adjudication in our services.

The 1980s were challenging – marked by the Alberta real estate collapse in 1982 and a total Alberta Credit Union loss of $92 million in two years. These challenges sparked a restructuring of the credit union system, leading to the Government of Alberta providing financial backstops to the Credit Union Stabilization Corporation and appointing an independent Board of Directors.

In 1989, we adopted a new name – the Credit Union Deposit Guarantee Corporation. We have continued to innovate and modernize our regulatory practices, introducing standards of sound business practice in 1998, starting prudential regulation in 2008, and implementing stress testing in 2015.

In 2017, credit union legislation was modernized in Alberta, bringing us in line with global best practices. With every passing year, we remain committed to ensuring the financial well-being of Alberta’s credit unions.

Our Mandate

Our mandate is to provide risk-based regulatory oversight and a deposit guarantee to enable Alberta’s safe and sound credit union system.

Our Vision

Our vision is an Alberta credit union system that is safe, sound, and competitive within the evolving global financial services environment.

Our purpose is to enable safety and soundness through providing financial institution regulation to jurisdictions within which we operate by being an employer of choice, taking an agile and collaborative approach, and leveraging technology.

Core Values

We are driven by six core values that define who we are and what we stand for:

  • We act with integrity. We consistently and responsibly carry out our duties in a trustworthy, fair, and ethical manner.
  • We are curious. We ask questions and continually look for opportunities to innovate while managing risks.
  • We empower. We set clear expectations and empower others to do their best work.
  • We are collaborative. We embrace collaboration by respecting, encouraging and valuing diverse opinions and perspectives.
  • We are accountable. We take responsibility for our actions and hold ourselves accountable for delivering business results.
  • We care. We care for the psychological safety, health and well-being of one another.