Privacy Policy

Last updated: September 21, 2026

This Privacy Policy explains how Stabilization Central Credit Union of British Columbia (“Stabilization Central,” “we,” “us,” or “our”) collects, uses, discloses, and safeguards personal information and (B) governs access and use of our website [stabilizationcentral.com] (the “Website”).

1. About Us and Purpose of this Policy

Stabilization Central is a central credit union incorporated in British Columbia and regulated by the BC Financial Services Authority (BCFSA). Stabilization Central’s members are credit unions, rather than individuals.

This Privacy Policy explains how we collect, use, disclose, and safeguard personal information in the course of:

• Providing stabilization and related services to member credit unions
• Maintaining a stabilization fund for financial assistance and depositor protection purposes
• Administering the Master Bond Program
• Acting as the stabilization authority under the Financial Institutions Act (British Columbia) and exercising statutory powers delegated by BCFSA or the BC Superintendent of Financial Institutions
• Monitoring emerging risks facing credit unions
• Providing advisory and elective services to credit unions
• Providing support programming to assist credit unions in satisfying regulatory requirements and mitigating risks
• Meeting governance, regulatory, supervisory, and risk‑management obligations
• Operating and administering our Website and social media platforms;
• Communicating with individuals acting on behalf of member credit unions, service providers, regulators, and other organizations

Stabilization Central is accountable for compliance with the Personal Information Protection Act (British Columbia) (“PIPA”) and for the personal information in its custody or under its control. PIPA sets out rules for how organizations collect, use, and disclose personal information.

Where information is provided to Stabilization Central by BCFSA or other British Columbia governmental authority, Stabilization Central is also accountable for compliance with the Freedom of Information and Protection of Privacy Act (British Columbia).

Stabilization Central is committed to being accountable for how it collects, uses, discloses, and protects personal information, and for ensuring that its practices are consistent with applicable privacy legislation and with the rules and procedures set out in this Privacy Policy.

2. Applicable Privacy and Financial Services Framework

Stabilization Central collects, uses, and discloses personal information in accordance with applicable laws, including:

• Personal Information Protection Act (British Columbia)
• Credit Union Incorporation Act (British Columbia)
• Financial Institutions Act (British Columbia)
• Personal Information Protection and Electronic Documents Act (Canada)
• Freedom of Information and Protection of Privacy Act (British Columbia)
• Applicable guidance issued by the Office of the Information and Privacy Commissioner for British Columbia (OIPC)

In addition, we may collect, use, and disclose personal information:

• Pursuant to information sharing agreements, protocol agreements, and other agreements with BCFSA and the Superintendent of Financial Institutions
• In accordance with letters of stabilization services, engagement letters, and other agreements entered into between Stabilization Central and its member credit unions from time to time
• In accordance with other agreements entered into between Stabilization Central and other credit unions or credit union organizations from time to time

These agreements do not override applicable privacy legislation but operate within and in support of Stabilization Central’s statutory mandate, regulatory obligations, and lawful authority to collect, use, and disclose personal information.

If there is any inconsistency between this Privacy Policy, an agreement and applicable legislation, the legislation will prevail.

3. Definition of Personal Information

In this Privacy Policy, “personal information” means any information about an identifiable individual, including information that can be combined with other information to identify that individual. Personal information may include information relating to an individual’s identity (such as name, age, date of birth, or gender), personal contact details (such as home address, personal email address, or personal telephone number), financial circumstances, regulatory history, personal communications, online activities, and assessments or opinions about an individual.

Personal information does not include information used to contact an individual at their place of business, including the individual’s name, position name or title, business address, business telephone number, or business email address. In addition, information that has been anonymized so that an individual cannot reasonably be identified is not personal information.

4. Scope of This Privacy Policy

This Privacy Policy applies to all personal information that Stabilization Central collects, uses, or discloses in the course of carrying out its mandates, activities, and operations, such as personal information relating to:

• Individuals who work for or represent our member credit unions, such as the directors, officers, employees, agents, and authorized representatives of our member credit unions
• Individuals associated with the service providers, contractors, auditors, insurers, consultants, and other credit unions or credit union organizations with whom we work
• Regulatory or supervisory contacts
• Visitors to our Website and social media platforms
• Individuals who communicate with Stabilization Central by electronic or other means

This Privacy Policy does not apply to information that does not constitute personal information under applicable privacy legislation, including information about member credit unions or other organizations that is not information about an identifiable individual.

5. Personal Information We Collect

The categories of personal information described in this section reflect the types of information that may be required for Stabilization Central’s purposes and do not represent an exhaustive list of all personal information that may be collected in every circumstance.

5.1 Information Collected Through Our Operations

In the course of carrying out our mandates, activities, and operations, we may collect personal information including:

• Name and contact information
• Authorized signing authority and delegate information
• Identification or verification information required for regulatory, risk‑management, or security purposes
• Personal information of personal members of our member credit unions or other credit unions
• Professional or employment‑related information
• Communications and correspondence
• Information required to meet governance, audit, supervisory, or compliance obligations

We limit the collection of personal information to what is reasonable and necessary for carrying out our activities and conducting our business, including for the purposes described above.

We may also collect personal information from BCFSA and from credit unions and other organizations in accordance with applicable information sharing agreements, protocol agreements, letters of stabilization services, engagement letters, and other contractual arrangements, for purposes that are consistent with our mandates and applicable law.

In some circumstances, Stabilization Central collects personal information about individuals indirectly, from sources other than the individual to whom the information relates. Indirect collection may occur where:

• the individual has consented to collection from a third party;
• collection from a third party is necessary to provide a service or fulfill an obligation to the individual and it is not reasonably practicable to collect the information directly;
• the information is collected from a source that is publicly available within the meaning of applicable law; or
• collection from a third party is permitted or required by law.

Stabilization Central will collect personal information from third parties only to the extent necessary for, and consistent with, the purposes identified at or before the time of collection. Personal information collected indirectly will not be used or disclosed for purposes that go beyond those for which it was obtained, except where required or authorized by law or with the consent of the individual.

When Stabilization Central collects personal information indirectly, it will:

• document the purposes for which the information was collected;
• take reasonable steps to verify that the third-party source had the authority to disclose the information and that the information was collected in accordance with applicable law; and
• make information about the purposes of indirect collection available to individuals upon request.

5.2 Information Collected Through Our Website

a. Automatically Collected Information

When you the Website, we may automatically collect:

• Internet Protocol (IP) address
• Browser type, device type, and operating system
• Date and time of access
• Pages viewed and referring website addresses

This information is used for website security, analytics, performance monitoring, and system administration.

b. Information Provided Through Forms or Downloads

We may collect personal information when Website visitors:

• Submit inquiries or contact forms
• Register for events, briefings, or webinars
• Subscribe to updates, notices, or publications
• Download reports, guidance materials, or other resources

This information may include name, email address, and other contact details. When you access the secured member area of the Website and download forms, templates, or advisory toolkit materials, we collect and log information about that activity, including your account credentials, the date and time of access, and the specific documents downloaded. This information is used solely to administer your membership, verify authorized access, and enforce the terms governing use of our proprietary materials. We do not share, sell, or otherwise disclose your download activity to third parties except as required by law or as necessary to investigate suspected unauthorized use or redistribution of our protected materials.

c. Cookies

By using the Website, you consent to the use of cookies.

What are Cookies?

Cookies are small text files placed on your device when you visit the Website. They help us remember your preferences, understand how you use the Website, and deliver a better experience. In addition to cookies, we may use:

• Web beacons (also called pixel tags), which are tiny images embedded in web pages or emails that track whether a page has been viewed;
• Session identifiers, which are temporary codes that keep track of your activity during a single visit;
• JavaScript tags, which are small scripts that collect data about how you interact with the Website; and
• Local storage, which are similar to cookies but stored in your browser’s local storage rather than as a file.

Types of Cookies We Use

We may use the following categories of cookies:

• Essential cookies, which are essential for the Website to function and cannot be disabled in our systems;
• Functional cookies, which enable enhanced functionality and personalization, such as remembering your preferences and customizing content. If you disable these cookies, some features may not function properly;
• Analytics cookies, which collect information about how visitors use our Website, such as which pages are visited most often, how long visitors stay, and where they came from. This information is generally aggregated and used to improve website performance. We use Google Analytics, provided by Google LLC, which may set cookies on your device. You can opt out of Google Analytics tracking at any time using Google’s opt-out browser add-on; and
• Advertising and targeting cookies, which are used to deliver content and advertisements that are more relevant to you and your interests, and to measure the effectiveness of our marketing campaigns. They may track your activity across different websites.

Information We Collect Through Cookies

Depending on the types of cookie used, we may collect the following categories of information:

Our collection of personal information through cookies is limited to that which is necessary for the identified purposes.

Third-Party Cookies and Services

We may allow third parties, such as Google Analytics, to place cookies on your device to provide services such as analytics, marketing and advertising, and embedded content (such as videos and social media).  These third parties operate under their own privacy policies. We are not responsible for the practices of third-party providers.

Managing Cookies

You may control and manage cookies through your browser settings. Refer to your browser’s help section for instructions. Please note that blocking all cookies through browser settings will prevent essential cookies from being set and may stop core website features from functioning correctly.

You may opt out of certain third party tracking systems by using tools provided by the third party. For example, Google offers a browser add-on that prevents Google Analytics from collecting data about your visits across any website that uses that service. These tools are managed by the applicable third party and we encourage you to review their instructions carefully.

Industry bodies such as the Digital Advertising Alliance of Canada (at youradchoices.ca) and the Network Advertising Initiative (at optout.networkadvertising.org) maintain centralized opt-out registries. Registering with these services signals to participating advertising networks that you do not want your browsing behavior used to serve you interest-based advertisements across the internet. Participation by ad networks is voluntary, so these tools may not cover every service.

Retention and Deletion of Cookie Data

Personal information we collect through cookies is not used or disclosed for purposes other than those for which it was collected, and is retained only as long as necessary for the fulfilment of those purposes.  Personal information that is no longer required to fulfil the identified purposes is destroyed, erased, or made anonymous in accordance with our data retention procedures.

5.3 How We Notify Individuals of the Purpose of Collection

Stabilization Central informs individuals of the purposes for which personal information is collected at or before the time of collection, except where otherwise permitted or required by applicable law.

Depending on the circumstances, notice of the purposes of collection may be provided in a variety of ways, including through written notices, posted privacy policies, agreements, forms, written or verbal correspondence, website notices, or other communications that are appropriate for the context in which the personal information is collected.

Where personal information is collected indirectly, including pursuant to an information sharing agreement, protocol agreement, letter of stabilization services, engagement letter, or other lawful authority, Stabilization Central will document the purposes for such collection and make that information available to individuals upon request.

6. Personal Information We Collect

Stabilization Central collects, uses, and discloses personal information only for purposes that a reasonable person would consider appropriate in the circumstances and that are necessary to carry out its mandate and activities, such as:

• Establishing and administering relationships with member credit unions, other credit unions, and other organizations
• Providing stabilization, support programming, and related financial or operational services
• Verifying authority, identity, and eligibility for our products and services
• Risk assessment, monitoring, and management
• Governance, audit, internal reporting, and record‑keeping
• Meeting legal, regulatory, supervisory, and reporting obligations
• Operating, maintaining, and improving our Website
• Responding to inquiries, communications, or requests
• Connecting with members, stakeholders and the public through social media platforms, such as LinkedIn, including managing our social media presence, responding to comments and messages, and delivering marketing communications through our social media accounts.
• Developing, providing, and supporting toolkits, guidance materials, and risk assessment information for member credit unions and other third parties, including in connection with risk management, financial stability, system resilience, and related operational or governance activities
• Administering and managing the Master Bond Program, including establishing and maintaining program participation, underwriting, compliance, reporting, monitoring, risk management, and related financial, legal, and operational activities
• Supporting credit union system risk mitigation and stability, including risk monitoring, analysis, reporting, coordination, and other activities necessary to identify, assess, and manage risks affecting member credit unions or the credit union system
• Supporting stabilization activities, delegated supervisory services, supervisory coordination, and risk management as contemplated by agreements with, or directions from, BCFSA and by letters of stabilization services, engagement letters and related agreements with member credit unions

Stabilization Central limits the collection, use, and disclosure of personal information to what is reasonably necessary to fulfill the purposes for which it was collected and does not collect more personal information than is required to achieve those purposes.

Where personal information is collected, used, or disclosed pursuant to an information sharing agreement or a stabilization‑related agreement, Stabilization Central does so only within the scope of the applicable agreement and in accordance with PIPA and other applicable legislation.

7. Consent

Stabilization Central obtains consent for the collection, use, and disclosure of personal information as required by PIPA and other applicable privacy legislation. Depending on the circumstances and the sensitivity of the information, consent may be express or implied.

Consent may be provided verbally, in writing, or electronically, depending on the context in which personal information is collected, used, or disclosed. In determining the appropriate form of consent, Stabilization Central considers the sensitivity of the personal information and the reasonable expectations of the individual.

In some circumstances, Stabilization Central may collect, use, or disclose personal information without individual consent, where permitted or required by law, including where such activities are carried out pursuant to agreements with BCFSA or letters of stabilization services or other engagements with member credit unions, and where consent is not required under PIPA or other applicable privacy legislation.

An individual may withdraw consent, subject to legal, regulatory, or contractual restrictions and reasonable notice.

8. Disclosure of Personal Information

Stabilization Central may disclose personal information for the purposes described above:

• To member credit unions and their authorized representatives
• To BCFSA in accordance with applicable agreements or pursuant to the Financial Institutions Act (British Columbia)
• To service providers who perform services on our behalf (including information‑technology, hosting, audit, and professional services)
• As required or permitted by applicable law

9. Cross‑Border Processing

We store and process personal information in secured locations in Canada. However, the disclosure of personal information in accordance with this Privacy Policy and applicable law may result in personal information being transferred outside of Canada, including to the United States. For example, some service providers engaged by Stabilization Central may store or process personal information outside Canada. The laws of other countries regarding the collection, use, and disclosure of personal information may be different from the laws of Canada.

10. Safeguards

Stabilization Central protects personal information using reasonable administrative, technical, and physical safeguards appropriate to the sensitivity of the information, including:

• Restricted and role‑based access controls
• Secure information systems and networks
• Confidentiality obligations
• Ongoing security monitoring and review

11. Retention and Disposal

Personal information is retained only for as long as necessary to fulfill identified purposes or to meet legal and regulatory requirements.

When no longer required, personal information is securely destroyed, deleted, or anonymized.

12. Accuracy

Stabilization Central takes reasonable steps to ensure that personal information is accurate, complete, and up to date for the purposes for which it is used.

13. Access and Correction

Subject to applicable legal restrictions, individuals may request access to, or correction of, their personal information by submitting a written request. Identity verification may be required. Where a correction request is granted, Stabilization Central will take reasonable steps to address the correction in accordance with applicable legislation.

14. Privacy Breaches

In the event of a privacy breach involving personal information, Stabilization Central will take reasonable steps to contain and mitigate the breach and will notify affected individuals and regulators as required by law. Where a privacy breach involves personal information shared pursuant to an information sharing agreement, letter of stabilization services, or other stabilization‑related agreement, Stabilization Central will also comply with any applicable notification and coordination requirements set out in those agreements, in addition to its statutory obligations.

15. Privacy Officer

Stabilization Central has designated a Privacy Officer who is responsible for overseeing compliance with PIPA and other applicable privacy legislation, and for the administration of this Privacy Policy. The Privacy Officer supports Stabilization Central in meeting its accountability obligations under applicable privacy legislation.

Questions, concerns, or requests relating to this Privacy Policy or Stabilization Central’s privacy practices may be directed to:

Privacy Officer
Stabilization Central Credit Union
Suite 100 – 1085 West Pender
Vancouver, BC V6E 2M6
Email: pwilford@stabilizationcentral.com
Phone: 604-730-5107

16. Changes to This Privacy Policy

This Privacy Policy may be updated from time to time. The most current version will be posted on Stabilization Central’s Website and is available upon request.