New Bank: Uni ( Caisse Populaire Acadienne) | General financial discussion | Discussion forum

There's an interesting sidebar to this. NB has a slightly weird insurance guarantee setup, with separate stabilization funds for the credit unions and the caisses (and I don't think one group could be called upon to fund losses in the other). The caisses have now grouped together and decamped to CDIC and federal regulation - and they seem to have been around 75% of insured deposits.

Aside from leaving a fairly small CU segment in NB, it would also mean that the caisse portion of the fund, around $100 million, no longer has any deposits it is insuring against. Seems like the guarantee corporation gets a big windfall! The CU portion is only $20 million, so the fund just became hugely solvent for the remaining rump of guaranteed deposits.

Later: Of course, the caisses might somehow be entitled to the dough, although I wouldn't think so. Or the provincial government may come and scoop some up in some way.

Even later: Actually, it looks like the two stabilization funds were somewhat separate from the main body of the guarantee corp. Since all the caisses left together and rolled up into Uni, I suspect the fund was rolled up with them, and the money stayed with the caisse system. Pity, NB could use the loot...