Canadians withdrew millions of dollars from banks after Trudeau ordered accounts frozen
‘Many Canadians made significant withdrawals from credit unions’ after Justin Trudeau authorized the freezing of accounts, said Martha Durdin, CEO of the Canadian Credit Union Association.
(LifeSiteNews) – Canadian bank executives have disclosed that millions of dollars were indeed withdrawn from credit unions shortly after the government of Prime Minister Justin Trudeau authorized the freezing of bank accounts linked to the trucker Freedom Convoy.
According to Blacklock’s Reporter, Martha Durdin, CEO of the Canadian Credit Union Association, told the House of Commons finance committee in early March that “in the early days, there was some degree of panic among some Canadians that their accounts may be frozen.”
Durdin noted that many of their “members expressed this concern, and many Canadians made significant withdrawals from credit unions as a result.”
“Sometimes in the hundreds of thousands, and on a few occasions in the millions of dollars,” added Durdin.
Durdin noted that many Canadians felt surprised “the government had that authority (to freeze people’s bank accounts),” but noted that the withdrawals did not “raise liquidity issues at all for credit unions.”
“Staff had to manage many very unhappy members,” added Durdin, noting credit unions had to answer many questions “under what circumstances the government can freeze accounts.”
“Many Canadians felt surprised,” she said.