Page 19 - CCFA Journal - Fifth Issue

监管 Regulation
金融科技的发展使得越来越多的银行服务数字化，让大
型银行能够为以前因成本或距离而无法接触到的客户提
供优质的服务；金融服务的数字化其实使信用合作社与
银行发生了冲突，但是信用合作社对有些人来说仍然具
有吸引力，因为信用合作社通常会提供更低的费用、更
高的储蓄率以及更亲民和个性化的服务方式。同时，由
于信用合作社和银行处于不同的监管下，同时也拥有着
不同的风险偏好，那些未能从大型银行获得贷款的用户，
往往会寻找包括信用合作社来寻求资金融资。另一个关
键区别是存款保险范围，特别是对老年成员； FSRA 会为
每位客户提供 25 万加币的存款保险，而 CDIC 仅提供
10 万加币在大型银行的存款服务。
信用合作社在与银行正面竞争时面临着各种挑战。在便
利性（使用 ATM 和分支机构）和手机银行等技术方面，
大多数信用合作社都无法与银行竞争；比如说，许多信
用合作社在技术方面无法与网上银行竞争；信用合作社
虽然可能会提供较低的贷款利率，但与大银行相比，金
融产品的范围可能有限，以下是从信用合作社的角度列
出的缺点：
1. 方便程度方面——分行、ATM机或服务中心数量少
2. 资金成本方面——信用合作社在资金选择方面的
灵活性较低；大多数信用合作社没有参与回购市
场，这是银行的一个重要的低成本资金来源。由
于规模较小，信用合作社无法使用债券市场。信
用合作社历来依赖定期存款、表内证券化（担保
债券）、表外证券化或经纪存款。融资选择的限
制使了信用合作社的平均融资成本更高。
3. 由于地点、薪酬或职业发展考虑等多种原因，信
用合作社在吸引和留住人才方面面临挑战。
4. 与提供全套服务的大型银行相比，信用合作社的
服务在大多数是非常基础的。一般的信用合作社
也没有批发银行业务(这是大多数主要银行的重要
收入来源)。
5. 鉴于规模，信用合作社通常没有足够的资源投资
于其基础设施，尤其是 IT。
6. 大多安大略人省的居民对信用合作社的了解相对
较少。
然而，在与大型银行竞争中，信用合作社也有一些优势：
1) OSFI 在 2017 年推出的 B-20 规则并不适用于信用合
作社，尽管许多信用合作社都自愿部分遵守 B-20 规则，
但是就总体而言，它们可以拥有更灵活的信用门槛。
2）由于信用合作社为会员集体所有，因此盈利能力不是
其首要任务，除了满足资本监管要求外，信用合作社还
可以为会员提供具有价格竞争力的产品。
3）对于农业贷款类型，信用社在地理位置、关系营销等
方面也有自己的优势。
CCFA JOURNAL OF FINANCE
加中金融
The development of Fintech brought more and more banking
services online and allows large banks to provide service to
customers who are beyond reach previously due to cost or
distance; the digitalization of financial services set the credit
unions on the collision course with banks, however, credit
unions are still attractive to some as credit unions typically
offer lower fees, higher savings rates, and a more hands-and
personalized approach to customer service to their members.
Meanwhile, since credit unions and banks are under different
regulatory frameworks and carry different risk appetites,
borrowers who failed to get loans from large banks often look
for alternative financing sources including credit unions. Finally,
another key differentiator is the deposit insurance coverage,
especially for elder members; FSRA offers $250K deposit
insurance per depositor while CDIC offers only $100K for
deposits saved in large banks.
That’s being said, credit unions are facing various challenges
when competing with banks head-to-head. Most credit unions
cannot compete with banks when it comes to convenience
(access to ATMs and branches) and technology like mobile
banking. Many credit unions cannot compete with online
banks in terms of technology. Credit unions may offer lower
interest rates on loans, but the array of financial products may
be limited in scope compared to big banks. Below is a list of
disadvantages from a credit union perspective:
1. Convenience - a smaller number of branches, ATM
machine or service center
2. Funding cost - credit unions are less flexible in terms of
funding choice; most credit unions didn’t participate in the
Repo market which is a significant low-cost funding source
for banks. Bond markets are not available to credit unions
either due to their smaller size. Credit unions historically
relied on regular deposits, on-balance-sheet securitization
(covered bond), off-balance sheet securitization, or
brokered deposits. The limitation with funding choices
leaves credit unions with higher average funding costs.
3. Credit unions have challenges attracting and keeping the
talents due to many reasons such as location,
compensation, or career development consideration.
4. Credit unions’ services in most cases are very basic
compared with large banks that provide a full suite of
services. Most credit unions don’t have wholesale banking
business which is an important source of income for most
major banks.
5. Given the size, credit unions usually do not have adequate
resources invested into their infrastructure, especially IT.
6. Credit unions are relatively less known to most Ontarians.
However, credit unions also have a few cards up its sleeve
when comes to competition with large banks:
1. The B-20 rule introduced by OSFI in 2017 doesn’t apply to
credit union sector. Although many credit unions
voluntarily comply to B-20 rules partially, they can have
more flexible credit criteria in general.
2. Since a credit union are collectively owned by its members,
profitability isn’t its top priority other than the need to
meet regulatory requirement on capital, credit unions can
still provide price-competitive products to its members.
3. For some loan types such as agricultural loans, credit
unions have their own advantages such as locations and
relationship marketing approach.
October 2021
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