The provincial government has amended Credit Union regulations to allow them to avail of the Canada Emergency Business Account program.

The federal initiative, announced March 27th, provides loans of up to $40,000 to businesses to help alleviate financial pressures caused by the pandemic.

As currently worded, the Credit Union Regulations could affect access to the program by some local credit unions.

The regulations have now been amended to provide all of the province’s credit unions with the ability to access the federal program.