Deposit Guarantee Corporation of Manitoba
Board of Directors Nominations/Applications

The Deposit Guarantee Corporation of Manitoba (DGCM), is a Government of Manitoba Other Reporting Entity, and is established by The Credit Unions and Caisses Populaires Act (the "Act").

DGCM's mandate and purpose is set out in the Act, to:

• guarantee deposits in Manitoba credit unions and the caisse populaire
• promote credit unions' and caisse development of sound business practices to protect them from financial losses
• ensure that credit unions and the caisse operate according to standards of sound business practice and ensure that the Credit Union Central of Manitoba (the central) operates according to prudential standards
• promote and otherwise contribute to the stability of and public confidence in the credit union system, the caisse system and the central.

DGCM is governed by a board of between five and seven members, all of whom are appointed by the Lieutenant Governor in Council (LGIC) on the recommendation of the Minister of Finance. The Deputy Minister of Finance also sits as a non-voting member of the board. Prior to recommending members for appointment to the LGIC, the minister must consult with the central and the caisse.

The LGIC must designate one appointed member as chair and may designate another as vice-chair.

DGCM must ensure that it is able to provide services in French to the caisse and its members.

Frequently Asked Questions

When are nomination forms due?

Nominations can be submitted at any time for future consideration in filling vacancies and the forms will be held on file for two years.

Where are nomination forms available?

Nomination forms are available at:

• Nomination Form for Appointment

Can I nominate myself?

Yes. Any candidate can nominate themself or be nominated by another person.

What information should be provided with the nomination form?

Please complete the full nomination form and supply a resume, CV or any additional information to support the nominee's qualifications. 

Do I need to live in Winnipeg to apply?

No. Anyone can apply, so long as they fit the requirements in the Act.

Who can be a board member?

Section 147 of the Act sets out the minimum requirements for a board member. A person may be a member of the board of DGCM (guarantee corporation) if they are 18 years of age or older and a resident of Canada and cannot be:

• an undischarged bankrupt;
• an employee of the guarantee corporation;
• an employee, director or officer of a credit union, the central or another entity with or in which a credit union makes deposits or investments to comply with its liquidity reserve requirements under this Act or the standards of sound business practice;
(c.1) a person who, at any time within 12 months before becoming a member of the board, was a director or officer of a credit union, the central or another entity described in clause (c);
• the guarantee corporation's auditor or a professional employee or member of the firm of such an auditor;
• the auditor of a credit union, the central or another entity with or in which a credit union makes deposits or investments to comply with its liquidity requirements under this Act or the standards of sound business practice, or a professional employee or member of the firm of such an auditor;
• the guarantee corporation's solicitor, or a professional employee or member of the solicitor's firm;
• an employee of the government whose official duties are concerned with the affairs of the guarantee corporation, or a person who was such an employee at any time within 12 months before becoming a member of the board;
• a real estate appraiser used by the guarantee corporation, or a professional employee or member of the appraiser's firm;
• a member of a credit union who is in arrears for more than 180 days under a debt obligation to the credit union;
• a member of a credit union who has a significant interest in a corporation or partnership that is in arrears for more than 180 days under a debt obligation to the credit union; or
• the spouse or dependent child of a member referred to in clause (i) or (j);
• [repealed] S.M. 2021, c. 24, s. 37.

This section does not apply to a non-voting member of the board, who is the Deputy Minister of Finance or their designate.

How long are the terms?

Members must be appointed for a term of no more than three years, and no member may serve more than 10 consecutive years. In appointing board members, consideration must be given to the need to ensure that the terms of office of not more than half of the board members expire in any one year.

Subject to section 150 of the Act, a member of the board of the guarantee corporation continues to hold office until the member is re-appointed, the appointment is revoked or a successor is appointed.

If at any time the number of appointed members is less than five, the LGIC must fill the vacancy. An appointed member of the board of the guarantee corporation ceases to hold office if the member is disqualified from holding the office under section 147 of the Act.

Where do I submit my application?

The completed and signed nomination form and additional information can be submitted by email to FINADM_CORPSERV@gov.mb.ca or by mail to:

Manitoba Finance
Corporate Services Division
824-155 Carlton St
Winnipeg MB R3C 3H8

Thank you to Alberta's Credit Union Deposit Guarantee Corporation for guidance on the creation of this process.