Consumers Beware: These businesses are not registered credit unions in Ontario

TORONTO, June 11, 2025 /CNW/ – The Financial Services Regulatory Authority of Ontario (FSRA) is warning consumers that businesses using the names Woodbridge Credit Union, Finch Credit Union and E-mobile Swift Credit Union are not registered credit unions in Ontario.

We encourage consumers to be careful if contacted by anyone claiming to be representing these businesses as there are potential risks. Your deposits are not covered by deposit insurance through FSRA if made with anyone not registered as a credit union or caisse populaire in Ontario.

These businesses appear to be using the following contact information:

If you believe you may have been a victim of financial fraud involving any of these businesses, please contact your local law enforcement.

Make sure to check FSRA’s website for the list of all credit unions and caisses populaires registered to do business in Ontario. Currently, Woodbridge Credit Union, Finch Credit Union and E-mobile Swift Credit Union are not on our list.

For reference, under the Credit Unions and Caisses Populaires Act, 2020, “No person, other than a credit union or person or entity prescribed by regulation, shall carry on business using a name in which ‘credit union’ or ‘caisse populaire’ is used.”

Deposit insurance helps protect the eligible deposits of consumers using the services of credit unions and caisses populaires. It also helps ensure the safety and soundness of Ontario’s credit union sector.

Visit FSRA’s website to learn more about credit unions and deposit insurance.

Contact

For media inquiries:

Ashley Legassic

Sr. Media Relations and Digital Officer

Financial Services Regulatory Authority

C: 647-719-8426

Email: ashley.legassic@fsrao.ca

For public inquiries: 

Toll free: 1-800-668-0128 

Email: contactcentre@fsrao.ca

SOURCE Financial Services Regulatory Authority of Ontario